The potential and the appeal for wearable devices enabled with a wireless connectivity cuts across multiple segments by extending the reach of the network to automatically track and share an individual’s daily activities. ABI Research’s mHealth Research Service segments the wearable wireless device market into four primary markets. These are:
· Sports, Fitness and Wellness,
· Home Monitoring,
· Remote Patient Monitoring
· On-Site Professional healthcare monitoring.
This Competitive Assessment report focuses on the first category only: Sports, Fitness and Wellness devices.
Wearable wireless devices in the Sports, Fitness and Wellness market measure sports performance, daily activity, sleep patterns, and other related physical parameters. Another key factor that distinguishes this market is its consumer focus and that, unlike devices in the other healthcare markets, these devices do not require FDA or other national health regulator certification.
Wearable wireless sensors for sports and fitness have been available for more than thirty years, but the market has remained relatively specialized and niche. Wearable device and short-range wireless protocol vendors have supplied professional athletes, gyms, and dedicated amateurs who were not dissuaded by high-level entry costs and proprietary systems.
A range of factors are radically changing the market. New vendors, devices, applications, and a shift to standardized connectivity are all changing the market. In the last year alone, there have been a slew of new products looking to expand the reach and potential of wearable wireless devices bringing new applications, functions, and business models. New players include start-ups and major corporations drawn by the potential for wearable devices.