Widening demand for wearable tech will see its value treble by 2022
Increasing sophistication, use cases and convenience are key factors behind the prediction that the wearable tech market will treble its 2016 value by 2022.
From healthcare to military and defence sectors, this technology is not only benefiting consumers on a personal level, but also large swathes of industry, helping businesses to save time, enable real-time data monitoring, and ensure operational efficiency.
Fitness tracking, security profiling, and network monitoring are some of the major factors contributing towards the higher adoption of wearable technology. The market is expected to reach a market value of $57.7 billion by 2022 from $19.6 billion in 2016, growing with a notable CAGR of 16.2 percent during the forecast period.
Increase in healthcare awareness, portable and convenient usage of wearables, and entry of large smartphone manufacturers are expected to drive growth in the wearable technology industry. Demand for sophisticated devices with innovative features further supplements the market growth.
However, factors such as security concerns and high cost of manufacturing in the global wearable technology industry are likely to hamper the market growth. Moreover, due to increase in smartphone penetration, the demand for wearable technology is expected to grow at a faster rate. Furthermore, the introduction of smart shirts and smart rings, owing to rapid technological advancements are expected to supplement the growth of wearable technology market.
Key players operating in the market include Apple, Fitbit, Garmin, Adidas, Nike, Samsung Electronics, Sony, Huawei, LG and Motorola.
Smart watches driving growth
The smart watch market is expected to grow with the fastest CAGR of 19.9 percent during the forecast period and is likely to reach a market size of $17.9 billion by 2022. Factors such as large players entering the global market, advancement in research and development, higher manufacturing cost, demand for high end devices, increasing competition, and standardization will have a significant impact on the smart watch market.
The key strategies adopted by various players in the wearable technology market are analysed based on the competitive scenario of the market. For instance, in September 2016, launched the vivofit jr., which is an activity tracker for kids to motivate and encourage them for fitness. The design for this product is durable and has a long battery life.
Many companies are collaborating with leading jewellery brands to enhance the appearance of wearable technology. For instance, in January 2016, Huawei and the jewellery brand Swarovski Zirconia, launched a new range of smart watches. These are available in two stylish options made exclusively for women. The watch comes with Italian leather straps and is compatible with both Android and IOS.
The full report, published by Allied Market Research, can be purchased at: www.reportbuyer.com/product/4883712
NetNumber: Time for a cloud-native transformation
NetNumber is accelerating the transition in the telecom industry to 5G as it starts a shift to cloud-native architecture to address the fast-paced demands of global subscribers and businesses.
NetNumber is offering the industry’s first cloud-native platform designed to ensure InterGENerational™ network performance addresses both the legacy and next-generation requirements of telecom networks.
“NetNumber has developed the industry’s most robust cloud-native, InterGENerational platform that addresses both the legacy and 5G requirements of telcos,” said Matt Rosenberg, Chief Revenue Officer of NetNumber.
The platform provides vertical and horizontal scale-out with low latency, coupled with a suite of data replication capabilities, which provide flexible architectural options that can evolve with the changing network over time.
“Cloud-based solutions from other vendors tend to be limited in terms of supporting particular network generations or protocols. We’ve created our latest platform TITAN.IUM to allow customers to take any generation of applications, any generation of legacy services and protocols and move them into the new world of cloud-native architecture,” said Rosenberg.
“This is a really important part for a carrier to harmonise their network, bring data services together, bring legacy with new together in order to make a more effective and efficient network, as well as reduce their cost as they scale forward,” he said.
Established in 1999, NetNumber has fostered a strong team environment that leverages the industry’s best skills to offer software solutions tailored for carriers of all dimensions. Based outside of Boston and with presence in over 20 countries, the company delivers a range of products that address all generations (2G, 3G, 4G, 5G) of network functions in the core network, deep rooted security products and services, STIR/ SHAKEN and set of options around data services in more than 90 countries.
Steeped in experience in building telecom solutions, software, protocol stacks, and integration of third party tools, the company’s development organisation has proven to supply to the industry with the most reliable and flexible solutions on the market.
“At NetNumber, we focus on our core competencies – we are dedicated to providing industry expertise in signaling, routing, security, subscriber management and data services. We provide customers a strong ROI through platform-based solutions that reduce Capex and Opex in the long-term,” commented Rosenberg.
Five reasons why customers choose NetNumber:
- Expertise - NetNumber has experts with deep knowledge in signaling/routing, security, and subscriber database management.
- Integration - An industry-first platform brings together domain services, applications, security, and global data services.
- Scale - NetNumber has the ability to seamlessly increase network efficiency using vertical and horizontal scaling.
- Speed - World-class solutions have the power to help companies create new service offerings and accelerate time to ROI.
- Savings - Customers enjoy significant savings in capex and opex, flexible deployment models, and investment protection.
NetNumber and Virgin Mobile MEA
“We're very proud of our partnership with Virgin Mobile MEA as they've taken the concept of the InterGENerational platform into their regional network strategy,” commented Rosenberg. “That’s accelerated how they develop exceptional services across the Middle East and Africa region.
“We work with them hand-in-hand to deliver multiple applications onto our platform which has enabled them to provide exceptional, advanced and innovative services to their customers across the Middle East, who demand high quality services.
“What they've really taken advantage of is scale. What I mean by that is they are putting multiple generations of applications and services onto the same platform and distributing that data across their network. That has resulted in an advantageous position of time to market and operational savings.
“Rather than having different applications for many different vendors that cause operational chaos, they've been able to consolidate that and reduce their operating costs by having everything on one common architecture. We’ve had a long-term relationship with Virgin Mobile in Saudi Arabia, and recently signed an agreement with Virgin Mobile in Kuwait.”
Rosenberg says that with these solutions, Virgin Mobile MEA can take advantage of getting to the market much quicker and faster—which is what today’s discerning customer demands.