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Recently, Berg Insight, a dedicated M2M/IoT market research firm based out Sweden released new findings on the connected wearables market.
15.4 percent growth expected in wearable shipment in 2023
According to the report, the shipments of connected wearables reached 116.8 million worldwide in 2018. Having said that, the total shipment of wearable including smartwatches and smart glasses is expected to reach 238.5 million units in 2023. Notably, 67.7 million of the wearables sold in 2023 are forecasted to incorporate embedded cellular connectivity.
Fitness & activity tracker leads wearable segment
At present, the fitness & activity tracker segment is led by Chinese Xiaomi, thanks to Mi Band fitness tracker, followed by Fitbit, Huawei and Garmin. Moreover, the report states that fitness & activity tracker faces fierce competition. On the other hand, the Cupertino giant accounted for almost half of the total 45.5 million smartwatches sold during 2018.
“Apple continues to hold a firm grip on the smartwatch market and is at the forefront of innovation in the industry,” says Martin Bäckman, IoT Analyst at Berg Insight.
Smartwatch expected to surpass!
The report from Berg Insight forecasted that the smartwatch segment is expected to surpass fitness & activity trackers and become the largest device category within wearable technology in terms of shipments in 2021.
Not so good future ahead for smartglass!
Other wearable sales such as smartglass, the head-mounted display is so far modest according to the research. In this case, Berg Insight forecasts that shipments of smart glasses and head-mounted displays will reach 11.9 million units by 2023. Annual shipments of medical devices and mobile telecare/mPERS devices are forecasted to grow from 1.8 million devices in 2018 to 6.9 million devices in 2023.
All said and done, there’s more to wearable than giants like Apple and Fitbit. There are more exciting startups in Europe with bold, innovative ideas in wearable tech genuinely helping people to solve life problems.
In no particular order, we have listed down the wearable startups to keep an eye on this 2019.
Wistiki (Paris)
Founders: Bruno Lussato, Hugo Lussato, Théo Lussato
Funding: €6.6M
Stop losing your items now with Wistiki! Wistiki is a small-sized Bluetooth tracker that can be attached to things that are commonly misplaced like keys, pets or even a phone. Through its app, available on iOS and Android, users can easily locate these items in seconds.
The company is on a mission to create an ecosystem of products and services that help you find your lost items via a strong community.
Tended (Lincoln, UK)
Founder: Leo Scott Smith
Funding: €1.6M
Founded in August 2017, Tended creates intelligent wearables and safety solutions that can detect accidents and immediately sends out an alert containing crucial information to the wearer’s emergency contacts or the emergency services. It is simple-to-use, intelligent and low-cost personal safety wearables and safety monitoring systems.
Deed (Turin, Italy)
Founders: Edoardo Parini, Emiliano Parini, Enrico Parini
Funding: €500K
Deed is a smartbridge bracelet in the wearable world that allows you to control the devices through an invisible and intuitive interface. It offers the functionality of a smartwatch and a fitness-tracker and connects to the smartphone via Bluetooth.
Vision Lab Apps ( Torri Di Quartesolo, Italy)
Founders: Federico Stefani, Guido Nardo
Funding: €200K
Vision Lab Apps is specialised in developing enterprise software for wearable technologies. The company mission is to support and empower the industrial workforce by significantly improving their productivity. Vision Lab Apps has developed ERA, a modular, scalable and easy-to-use augmented reality software platform designed for Smart Glasses and smart devices for the industrial workforce.
Elvie (London)
Founders: Alexander Asseily, Tania Boler
Funding: €44.6M
Elvie is a health and lifestyle brand developing smarter technology for women everywhere and at all stages of life. Elvie Trainer is an award-winning app-connected Kegel trainer that helps women strengthen the pelvic floor via fun, five-minute workouts. Last year, the company launched its second product, Elvie Pump, the world’s first silent, wearable breast pump.
8sense (Rosenheim, Germany)
Founders: Christoph Tischner, Ralf Seeland
Funding: €1M
8sense is an e-health startup providing a virtual back coach consisting of a sensor and mobile app. It gives constant feedback on the user’s posture, allowing him to strengthen or relieve back muscles and improve muscle memory.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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