Fast Facts: Still Young, But Wearables Changing Enterprise MobilityAdd bookmark
In the fast-paced IT industry, new statistics and data are released daily. Each week, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses.
The enterprise mobility sphere incorporates a wide range of devices, but one section growing quicker than most others is the wearable device market, poised to see certain pieces of hardware soar for enterprise use.
According to a new report conducted by VDC Research, the market for smart glasses, watches, and wearable speech technology will see rapid increases between now and 2022.
Wearable smart glasses expect to see unit shipments grow from 28,000 in 2017 to 1 million in 2022, with a 97.2% CAGR. Smart watches will increase from 2.3 million unit shipments to 9.7 million, with a CAGR of 32.7%, and wearable speech technology will also see an increase, albeit not as drastic, forecasting shipments from 16,000 units to 129,000 in the same time frame with a CAGR of 41.7%, the report said.
See related: Dressing Up Enterprise Mobility With Wearables
While the forecasted growth looks impressive, there are still some challenges for enterprises.
According to the report, “The market for wearable technology is fragmented, with even the largest solution providers for any one form factor facing stiff competition from rivals with meaningfully differentiated offerings. This market is still largely nascent, with high growth driven by the identification of new use cases and rapid technological advancement. Difficulty in identifying clear business benefits has held wearable adoption back, leaving many solution providers unsure as to how to position their offerings and prospective customers unsure as to how wearables can help them achieve objectives.”