HomeLatest FeedsTechnology NewsThis year, wearable technology will change the world

This year, wearable technology will change the world



The revolution of wearable technology is on the verge, i.e. it can become an absolute must in everyone’s life. The concept has been around since the 1960s, when Casio released a watch that doubles as a calculator.

It was only in the 2010s that companies began to take wearable technology to a new dimension with the help of the Internet of Things (IoT). The release of Apple’s first smartwatch in 2015 broke new ground and created a wearable tech craze that used the IoT to track a person’s activity and enable collaboration between multiple devices.

Consumer IoT, which includes three distinct markets (automated home, connected car, and wearable technology), accounted for 27 percent of global IoT revenue in 2022. Wearable technology will be the largest and fastest growing segment by revenue in 2023, reaching a market size of $126 million.

In the first half of this year, consumer spending on expensive non-essential products such as smartwatches and VR/AR headsets will stagnate due to the looming threat of a global recession, rising unemployment and the depletion of disposable incomes. The situation is likely to improve in the second half of 2023, provided the recession and supply chain disruptions stabilize. Customers will also demand more compelling use cases for affordable wearables, such as holographic communication and remote asthma monitoring.

However, there are data protection issues for wearable device vendors. Wearable devices generate vast amounts of personal data about users, including biometrics, location, email passwords, app activity, and even recorded conversations. And the increasingly widespread use of augmented and virtual reality (AR and VR) tools to create the metaverse will only further increase the amount of data and the diversity of data.

The data will be stored on cloud servers, which are already vulnerable to hackers or potential abuse by advertisers and vendors. Thus, actions such as the use of consumers’ personal data for profit, or the inability to protect user data from illegal access, will increasingly be considered unethical on the part of any seller. This will jeopardize their commercial success, affect investor confidence, and draw attention to regulatory and control issues. Therefore, investing in privacy will be imperative for wearable device vendors.

Wearable technology will play a key role in the development of the metaverse, which is expected to develop massively in the coming years. Virtual glasses are required to experience the true metaverse, and this technology is at the heart of many companies’ plans. For example, Meta indicates this with the release of Meta Quest Pro. In 2023, VR-based collaboration and training are expected to be important use cases for emerging enterprise metaverses. Companies will be forced to use headsets for task-specific uses such as employee onboarding, virtual events and collaboration. Investing in headsets and VR will be essential in 2023 as they are critical tools in the metaverse, a megatheme that will revolutionize digital media.

Overall, like most other industries, it will be difficult for wearable technologies to increase demand during the economic downturn. Households will prefer to save instead of buying new products. However, the growth of the industry means that there are now many wearable technology products using IoT, from smart jewelry to smart implants. Many of these products can be used to save lives or improve fitness, it is expected that wearable technology will not be affected by the economic downturn – reports Verdict.

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Mr.Mario
Mr.Mario
I am a tech enthusiast, cinema lover, and news follower. and i loved to be stay updated with the latest tech trends and developments. With a passion for cyber security, I continuously seeks new knowledge and enjoys learning new things.

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