Hardware and service revenue generated by app-enabled smart wireless accessories is expected to surpass $23bn by 2018, compared to $2bn in 2013, Juniper Research’s latest report reveals.
According to report, the growth will be mainly driven by increasing adoption of software as a service delivery; integration of additional services within the app; rising deployment of ‘freemium’ model in fitness and healthcare wearables; and payment transaction revenue growth.
The latest ‘Smart Wireless Accessories: CE, Fitness, Health, Payments & Enterprise 2013-2018’ revealed that there are many business models within the smart wireless accessories market, defined by the segment to which they belong.
Juniper Research senior analyst with Nitin Bhas said that the development of a robust environment for the development of peripheral based business models would have impact on how revenue is generated within the market together with technology standards and regulations playing their part, especially with regard to payments and healthcare accessories.
"The wireless accessory ecosystem is still developing and will evolve over the next five years to become a reality for a much broader audience," Bhas added.
The report also forecasts that the smart wireless accessory shipments would reach 170 million by 2018 and the analysts suggest that the importance of multi-channel strategy for a better grip to capture a place in the new market.
