According to statistics portal, Statista, wearable tech is projected to be worth $7.1 billion in 2015, with shipments of devices is expected to top 68 million.
Some companies are moving beyond smart wristbands and watches, while others see a business opportunity in analyzing the data collected by wearables. CCTV America’s Chris Casquejo reported from Seattle.
Data from wearable tech worth billionsAccording to statistics portal, Statista, wearable tech is projected to be worth $7.1 billion in 2015, with shipments of devices is expected to top 68 million.
Many devices on the market can tell you how far you run. Sensoria, a Seattle-based company has developed a fitness smart sock that measures how well you run.
Equipped with textile sensors and an anklet weighing 28 grams, the smart sock relays information wireless to a mobile phone app, which tells you if you need to correct your stride and priced at $199.
“By actually having the right positioning for the accelerometer, and by combining that same technology with our unique and proprietary textile sensing technology, we have three ways to detect, basically, whether I’ve taken a step or not,” President and CEO of Sensoria Davide Vigano said.
Turning footprints into dollars, the company delivered its smart socks to its first group of crowdfunding backers over the Christmas holiday season.
Making hardware isn’t the only space where companies see the potential for making money. Some are developing software to boost health in the workplace. Chronic disease is responsible for more than half of all the deaths in the world, and cardiovascular disease is responsible for 20 million deaths worldwide.
Another Seattle-based company has developed a website and mobile apps that help companies track wellness, an effort to cut healthcare costs by keeping workers in shape, while encouraging daily use of wearable technology.
For more, CCTV America interviewed Min-Liang Tan, CEO of gaming and tech company Razer.