LONDON, United Kingdom — On Friday, Credit Suisse issued a report on the rise of wearable devices — personal accessories with embedded sensors, displays and other digital technology, such as Nike’s FuelBand, Google’s Internet-connected eyewear and Apple’s rumoured iWatch — calling them “a mega trend” that has hit “an inflection point in market adoption” and will have “a significant and pervasive impact on the economy,” reports Barron’s.
The “wearables” market, currently concentrated in health and fitness and estimated to be worth between $3 billion to $5 billion, is set to explode, said the report, reaching $30 billion to $50 billion over the next three to five years, as sensors and battery life improve and an ecosystem of entrepreneurs start to build thousands of apps and services on top of wearable devices, just as they have done for smartphones.
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