Dr. Bhakta discusses the wearables market, its growth areas and the future.
Anthony Locicero, Associate editor04.06.20
The global wearables market is expected to be worth more than $67 billion by 2024, according to Market Watch.
In December 2019, the global market for wearables was on track to ship 305.2 million units, up 71.4% from the 178 million units shipped in 2018, the International Data Corporation (IDC) reported.
From there, total volumes will grow to 489.1 million units in 2023, resulting in a compound annual growth rate of 22.4%, according to IDC.
"Wearables encompasses all the leading categories of things people wear to solve certain problems," said Raj Bhakta, Ph.D., CEO and co-founder of Funxion Wear.
Fitness and health tracking had primarily been limited to medical use-cases until now, Dr. Bhakta said.
"The first wave of wearables came out of purely steps tracking," he said. "The prominent form factors were wrist-worn devices or clip-on devices with accelerometers.
"As the m
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