Wearables Promise to Increase the Revenue of Mobile Operators up to US$12 by 2022
Wearable devices service category will grow at a pace of 36 percent a year during the period between 2018 and 2012, SNS Telecom & IT reports. Shipments of wearables is said to increase at a CAGR of 22 percent during the same period. According to the consulting agency, the service revenue gained by mobile operators will skyrocket to more than US$12 billion by the end of 2021. By 2022, the overall wearable devices market value will reach US$45, with over 250 million items to be shipped annually. The leadership in the market will be held by Apple, Xiaomi, Fitbit, Samsung, and Garmin. These top 5 companies will account for more than 55 percent of the wearables market.
The consumer oriented wearables like smartwatches tend to be LTE-enabled, embracing also some advanced features, such as VoLTE (Voice over LTE). In future, new wireless connectivity technologies are expected to be adopted for the wearable devices, including 5GNR (New Radio), eMTC (Enhanced Machine-Type Communication, and NB-IoT (Narrowband Internet of Things).
Because wearables feature a number of modern tendencies, such as messaging and socialization, healthcare and fitness, etc., these devices currently gain interest of a number of market players, including health insurers, mobile operators, smartphone OEMs, and even the smallest startups.