Hearable tech to dominate wearables this year
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While hearable tech is expected to dominate wearable technology this year, analysts believe that the metaverse will be threatening to disrupt consumers and business.
According to data and analytics company GlobalData, hearable tech such as earbuds and smartwatches will be the largest and fastest-growing segment in the lucrative Internet of Things (IoT) consumer market.
“The explosion in interest for health and fitness monitoring shows no sign of declining,” GlobalData analyst Rachel Foster Jones said last Friday.
“Competition in the smart glasses and augmented reality (AR) space is also intensifying.”
But winners and losers are emerging in every sector, with winners investing heavily in next-generation technology unlike those who feel they do not have to.
Generating $US97.5 billion in revenues this year alone, wearable tech will make up almost half of the consumer IoT market. This is followed by gadgets for a more secure automated home and the increasingly 5G connected cars.
Meanwhile, Google will be making a comeback after acquiring smart glasses company North to help realise its dreams of “ambient computing” where devices all around us work together.
“Meta will also debut its AR-capable headset and Apple will compete by launching its AR headset later this year,” Ms Jones said.
GlobalData says another clear theme that will be happening this year is supply chain disruptions and rising labour costs bringing offshore operations home.
US manufacturers in the transport, electronics, and chemicals industries will “reshore” their production due to concerns over EV battery production and domestic semiconductor supply.
Aside from this, cloud computing and social media will experience significant developments in 2022.
However, GlobalData stated that the most disruptive, nascent themes that will be emerging this year are augmented reality, ambient commerce and the metaverse.
As companies data visualisation, collaboration, and training using the immersive 3D metaverse, it is expected that early tech prototypes will be emerging within the year.
Meanwhile, decentralised finance will not only disrupt banks and be “the killer use case” for cryptocurrency but will also force central banks to catch up through the introduction of Central Bank Digital Currencies and the adoption of stablecoins.
This year is also expected to bring an increase in signatories to the company-led Climate Pledge, in which over 200 signatories seek net-zero carbon emissions by 2040.
As its targets can be achieved through carbon offset schemes, there will be increasing pressure for the voluntary carbon market to be regulated.
“Companies with implausible net-zero targets risk harming their reputation,” GlobalData stated.
Consumers are also becoming more active in environmental and social concerns, which is translating into preferences for products such as energy-saving devices.
“Undoubtedly, smart thermostats will become the fastest-growing automated home segment in 2022,” Ms Jones said.
With AAP
Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.
