Story image

Wearables are the latest disruptive technology, Frost and Sullivan says

01 Nov 14

The latest report by Frost and Sullivan raises the question, will wearables be the next enterprise game changer?

Wearables offer unique attributes and a range of applications that can suit a wide range of industries. Not only that, they offer a platform for continued innovation. Given this, wearables could very well be the latest disruptive technology to command attention and ignite change.

The Frost and Sullivan report looks at the state of this emerging technology and the potential impact it will have on enterprises.

“Wearables could seriously challenge the status quo in several industries and could substantially enhance process efficiency, customer experience and worker safety in hazardous work environments,” says Arvind Arun, Industry Analyst, ICT Practice, Frost and Sullivan.

The market for wearables is currently worth US$8.5 billion and is set to grow at an increasingly rapid pace, according to Arun.

Over the next five years, the market is estimated to grow to US$37 billion at a Compound Annual Growth Rate (CAGR) of around 34 percent.

The uptake of wearables in enterprises will happen at a particularly fast rate, the report says. Volume shipments are set to grow at a CAGR of around 75 percent from 2014-2018.

The report highlights three drivers that will propel the market forward. The explosion of the Internet of Things (IoT) ecosystem and the fact that wearables could potentially act as a gateway to the IoT world is one.

Another is the fact that wearables have the ability to provide contextual computing capabilities, opening up new avenues of growth and possibilities. Finally, wearables empower the wearer, giving this technology several disruptive attributes.

Arun says in order to fully realise the potential and promise of wearable technology, the industry must acknowledge challenges such as technical limitations, encouraging the app developer community and wearable data management.

By facing these challenges, the industry can find solutions and no longer face problems such as battery life, versatility, robustness of sensors and interoperability between devices and platforms, says Arun.

Arun also highlighted particular industries where wearables have a higher chance of becoming commonplace.

“Like all disruptive technologies, wearables will immensely benefit certain industries such as Healthcare which is likely to see a sharp increase in prophylactic therapy and preventive medicine," he says.

"On the other hand, wearables will increase the practice of “showrooming”, which could put additional stress on traditional retailers. Also, wearables could serve as an alternative to credit and debit cards and hence may further disrupt the payment industry.”

However, no matter the size of your organisation, the industry you operate in, or the nature of your customers, wearables are said to change the way businesses work, compete and deliver value to the marketplace.

Workday customers start deployments to AWS infrastructure
Business software vendor Workday has turned it's previously announced AWS partnership into a reality.
Royole's FlexPai: So bendable phablets are a reality now
A US-based firm called Royole is delivering on that age-old problem of not being able to fold up your devices (who hasn't ever wished they could fold their phone up...)
How to leverage cloud for data-driven business ops
The next gen of cloud-based data platform services are flexible and cost-effective so even small organisations can unlock data insights.
What MSPs can learn from Datto’s Channel Ransomware Report
While there have been less high profile attacks making the headlines, the frequency of attacks is, in fact, increasing.
Cisco expands security capabilities of SD­-WAN portfolio
Until now, SD-­WAN solutions have forced IT to choose between application experience or security.
IDC - Global digital transformation spend to near $2T by 2022
Hardware and services spending will account for more than 75% of all DX spending in 2019.
AlgoSec delivers native security management for Azure Firewall
AlgoSec’s new solution will allow a central management capability for Azure Firewall, Microsoft's new cloud-native firewall-as-a-service.
Gartner - Global RPA spending hitting its stride
The biggest adopters of RPA today include banks, insurance companies, utilities and telecommunications companies.