Juniper Research has issued a new report which predicts that tech giants including Apple and Samsung won't be disappointed at future consumer demand for smart watches.
The company forecasts that application-enabled smart watch shipments will reach 36 million units by 2018, a steep jump from a suggested rate of one million this year. Juniper argues that consumer demand will be driven by well-known companies steering towards app-enabled wearable technology, highlighting Apple and Samsung as major future players in the industry.
These kinds of companies are expected to act as a "catalyst" to bring wearable technology to the attention of other businesses.
In addition, the firm believes that applications -- found in smartphones and tablets -- which allow increased functionality including email checks, personal assistance, social media accessibility and games will be a key driver to entice consumers to buy such items. Fitness, sports activities and payment systems are predicted to be important drivers for the smart watch industry.
However, the report also states that smart watches with this kind of "multi function" capability will only appeal to a niche market in comparison to the popularity of smartphones and tablets -- therefore its overall growth potential is likely to be limited.
Application-enabled mobile wireless accessory shipments are expected to reach 170 million units by 2018, the report added.
Via: Juniper Research
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This post was originally published on Smartplanet.com