Sports, Fitness, Healthcare, and Clothing are emerging as key industries for the early market success of wearable technology. Mind Commerce sees wearables in Sports and Fitness alone reaching $9.4 billion globally by 2020 with a CAGR of 103%. Wearable devices within these market segments typically represent an accessory that provides the user with information in support of various applications and/or personal services. For example, some wearables in healthcare help in monitoring blood pressure levels, heartbeat, body temperature and similar other evolving features. Wearables within these industries are also a key part of the Personal Internet of Things (PIoT) as they gather important data about personal habits, lifestyle, and physical attributes.
Wearable Robots, Exoskeletons at $36.5 million in 2015 are anticipated to reach $2.1 billion by 2021. All the measurable revenue in 2015 is from medical exoskeletons. New technology from a range of vendors provides multiple designs that actually work and will be on the market soon. This bodes well for market development.
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