Wearables to hit stride in enterprises from 2017: Frost & Sullivan

Revenue from wearable technologies still overwhelmingly from consumer devices

Frost & Sullivan is predicting significant adoption of wearable technologies in Australian enterprises from 2017. However, the vast bulk of revenue in the category will be from consumer devices, according to the analyst firm.

Last year the consumer-focussed wearable tech was responsible for 99 per cent of revenue in the segment.

Australian revenue from wearables will reach $1 billion by 2018, based on a compound annual growth rate of 78 per cent from 2014, predicts Frost and Sullivan's Australian Wearable Technologies Report 2015.

In the enterprise space most wearable tech is at the prototype stage, but some companies particularly in the resources sector are looking to trial wearables, said Audrey William, head of ICT research, Frost & Sullivan Australia and New Zealand.

"For instance, new wearable technology sensors embedded within smart shirt/vests can enhance worker safety and safer working environments for field technicians in mines by recording and analysing data on temperature, air quality and gaseous leaks," William said in a statement

"Ultimately, wearable technologies has the potential to impact every industry in Australia, including mining, oil and gas, engineering, healthcare, education, manufacturing, logistics and leisure and entertainment."

Analyst firm Telsyte predicted earlier this year that the Australian smartwatch market alone will exceed $400 million by 2018, with 370,000 units sold last year and the release of the Apple Watch providing a mammoth boost to the segment.

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