Category: Technology News

A new report issued by Transparency Market Research has revealed a very rapid wearables growth rate.

The figures published in a tech news report by Transparency market Research called “Wearable Technology Market – European Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” have shown that while the wearables market was estimated to be worth $308.69 million, last year, the predicted growth rate will bring that stat to $2.54 billion by the close of 2019.

That represents a compound annual growth rate (CAGR) of 42.1 percent from this year through 2019.

The wearable technology marketplace currently holds a kind of niche position that is dominated by a handful of strong players. That said, additional participants are regularly stepping into this sector and are adding their own product contributions along the way. Still, the selections for consumers remain somewhat limited – when compared to the rest of the mobile tech offerings – and the price tags are still considered to be high enough to be prohibitive to major blocks of shoppers.

Equally, wearable technology is working its way into many marketplaces, some of which are seeing rapid growth.

Wearables are finding their way into everything from military applications to industrial, and from medical and healthcare to fitness and wellness, and even simple infotainment. Moreover, as the number of wearable mobile devices continues to grow, so will their various applications. Development is rapidly continuing and the report predicts that this trend will be maintained throughout the forecast period.

Among the products that are currently making headway in the wearable device market are smartwatches, augmented reality headsets and glasses, smart sports glasses, activity and fitness monitors, sleep sensors, and health and biometrics trackers. Various types of jewelry and clothing are also trying to crack their way into the space, but they are typically quite small and are the product of limited startups.

That said, many of the wearable technology devices that are catching on are only starting with their primary design purpose but are branching off into many other applications as consumers use them in their everyday lives. Many combination purpose devices are starting to be worn by early adopters.

Rocket Internet receives sizeable investment from the Philippine Long Distance Telephone Company

Rocket Internet, an e-commerce incubator based in Germany, has announced that it has received an investment from the Philippine Long Distance Telephone Company. The investment means that the telecommunications company has taken a 10% stake in Rocket Internet. Through this deal, both companies will be able to tap into the other’s expertise, especially when it comes to mobile payments and e-commerce.

Companies will work together to develop new technologies and mobile-centric services, focusing on mobile payments

Together, the two companies shave plans to develop new mobile and online payment technologies. These technologies are meant to be put to use in emerging markets, where mobile commerce is beginning to show promising activity. The Philippine Long Distance Telephone Company has expertise in the mobile payments space and will be making use of technology from Rocket Internet to empower its position in the mobile commerce market.

Mobile commerce is growing quickly in emerging markets where smartphone and tablet penetration is on the rise

Mobile payments are becoming more important to consumers throughout the world. This has to do with the high penetration of mobile technology. More people are beginning to rely on smartphones and tablets in their daily lives and, as such, are beginning to demand access to comprehensive services that are mobile-centric in nature. Companies are beginning to understand this demand and take steps to accommodate the needs of consumers in many parts of the world.

Many of those in emerging markets do not have access to a bank account, but that may change as mobile commerce services become more available

Mobile commerce is becoming particularly popular among those without bank accounts. Many mobile platforms are able to digitize a person’s finances without having to be linked to a bank account. According to the World Bank, many of the world’s emerging markets are filled with people that do not have a bank account of any kind. Better mobile services may change this in the future, as people may see the value of the security that banks offer when it comes to their financial information.