Wearable device growth; a trend started in 2013 to continue bigger in 2014

Though wearable devices are in the market from several years, but it is in this year of 2013, we are seeing sudden rise of new product launches both for fitness purposes and also for communication and information purposes. The most interesting product launched this year is Galaxy Gear from Samsung. It is reported by market researcher Canalys that Samsung has shipped 800,000 units of Galaxy Gear in its first two months of sale. The highest shipment among wearable devices is now for fitness devices. Consumer Electronics Association (CEA) has forecasted nearly 27 million Americans expected to buy a fitness device in year 2014. CEA also finds the dedicated wearable fitness devices tripled its ownership from 3% in 2012 to 9% in 2013. More than 91% of potential buyers looking for health monitoring feature in smart watches, as per CEA. So the clear indication is the wearable devices are now increasingly finding use in health and fitness monitoring. Simple practical example is, the wearable Smart watch can act as a reminder to take their pill in right time. Along with smart watches and wearable fitness devices there are also other fast-emerging wearable devices such as wearable GPS and smart glasses. Market researcher Futuresource consulting has estimated wearable devices have generated a revenue of US$ 8 Billion in 2013, though in 2013 fitness devices constitute over 9...