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(Wireless-NewsWire.Com, August 10, 2016 ) Usage of wearable technology upholds enormous potential for process improvement and improving work effectiveness and efficiency. Wearable technology has wide application varied areas and can be used in various industries such as manufacturing, retail, healthcare & fitness, service industry and others. In retail industry wearable devices fosters sale processes, improve costumer purchasing speed and services. In manufacturing industry wearable technology helps in providing hands-free guidance tools, which ultimately helps in expediting production process, while streamlining processes, improving accuracy of information it can significantly decrease the healthcare costs in medical centers
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High prices of different kinds of wearable products are one of the factors that can hamper the growth of this market. Finding the right balance of price and value add is one of the major challenges that wearable companies are facing, but with the increasing number of new entrants in the market and further innovation in technology , the prices of new wearable is expected to lower down which will further increase its adoption in near future and end users affordability. High power consumption and limited battery life are also some of the factors that may slow down the growth and adoption of wearable devices among end users. As wearable devices comes in compact sizes, its batteries are quit small and lightweight, which requires frequent charges in case of continuous usage. Companies are working to improve battery technology and developing various convenient ways for charging batteries. Energy harvesting is one of the most promising technique and possess high potential which can be used for charging wearable batteries in coming years
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Rising data privacy concern is one of the prime challenges that companies are facing currently. In the coming years it is more likely to happen that there will increase in the usage of wearable in workplace for improving productivity and efficiency. Using wearable devices at work place will higher the risk of, unauthorized individuals recording critical and confidential business information. Making business vulnerable to risk.
Currently, wearable technology devices have witnessed a significant adoption in the APAC countries. Furthermore, with growth in disposable incomes and technology adoption trends, several growing economies in regions are expected to experience high adoption of wearable technology solutions and devices. APAC currently holds the significant market share in the global wearable technology market, and is expected dominate the market during the forecast period
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