The global retail revenue from smart wearable devices will touch $53.2 billion by 2019, said Juniper Research.
The next five years will see an increase in sales of premium smart watches and smart glasses.
The report says that the involvement of well known electronic vendors in the smart wearable market has encouraged other firms to develop such devices, which has lead to launch of many new devices in the increasingly crowded market.
The report suggests vendors to first think in terms of consumer benefits for an increased product adoption and focus on latest technology later.
Users are not sure about using the latest wearable devices such as smartwatches and glasses. The users seemed hesitant about adopting wearable companion devices with functionality that is very similar to that of smartphones.
Vendors have started focusing on platform promotions, such as Google’s Android Wear, Samsung’s SAMI data architecture or Intel’s Edison design platform.
Many of the more advanced technologies for wearables will be developed first for the enterprise and healthcare segments, which have clearer use cases. These segments will drive wearable technology forward, before being adapted for the consumer sector.
Smartwatches will be the most purchased wearable category by 2017 and will replace fitness wearables.
Wearables will remain companion devices, with many tied to specific operating systems to differentiate offerings.