ABI Research says enterprise wearable revenue will hit $55bn by 2020
Revenue from enterprise wearable devices will hit $55 billion (£42.7bn) by 2022, according to the latest study from ABI Research.
The figure is a significant increase from the predicted $10.5bn by the end of 2017, with a CAGR of 39%, the company added.
This may come as something of a surprise given the current state of the industry. Writing for sister publication IoT News at the start of this year, Laurent Le Pen, CEO and founder of wearable tech startup Omate, admitted 2016 had been a ‘tough’ year for the industry.
Yet the note from ABI insisted it was the platform plays which would bring enterprise wearables to the next step.
“Wearables have much less in-built security and authentication protocols than other devices and so require robust security platforms to ensure data safety,” said Stephanie Lawrence, research analyst at ABI Research in a statement. “Supporting platforms allow managers and IT teams to determine what information the wearables have access to, monitor their usage, create customised applications, and remotely control the devices. This ultimately safeguards the data from being compromised.”
Wearable platforms require specific applications that can support a wide variety of devices, the company argues, although adding ‘most’ wearable platforms can be supported by enterprise mobility management (EMM). VMware AirWatch, for instance, announced what was claimed to be the industry’s first unified solution for smart glasses management for augmented and mixed reality in October last year, while Good Technology – now of course part of BlackBerry – announced support for wearable devices as far back as the 2015 Mobile World Congress.
You can read the full ABI Research report here (paid access).
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