Developments in the Wearable Devices Market

News provided by

Jan 24, 2017, 08:00 ET

NEW YORK, January 24, 2017 /PRNewswire/ --

A new wave of wearable devices has been carried over and emerged in 2017. More and more wearable devices are created to adopt users' needs. According to ZDNet, more than 250 exhibitors at the 2016 Consumer Electronics Show (CES) fell in the wearable category. A research report published by Global Market Insights projects that the wearable devices market size is anticipated to exceed USD 12 billion by 2023 growing at a CAGR of over 24% from 2016 to 2023. Biotricity Inc. (OTCQB: BTCY), Fitbit Inc. (NYSE: FIT), Garmin Ltd. (NASDAQ: GRMN), Apple Inc. (NASDAQ: AAPL), Alphabet Inc. (NASDAQ: GOOGL)

The research report also indicated that rising demand for sophisticated devices combined with innovative features is expected to drive the industry demand. As technology advancements develop, wearable devices begin to be used in numerous sectors such as label reader infotainment, telemedicine, advertising, cycling and running (navigation), surgery, accessing patient records, project planning as well as remote patient monitoring. However, health & fitness still accounts for most of the wearable devices markets, as people's health awareness and spending capabilities improve.

Biotricity Inc. (OTCQB:BTCY) a healthcare technology company committed to delivering innovative, medically-relevant biometric remote monitoring solutions, earlier today announced that it, "will demonstrate its IoT-connected medical device Bioflux, powered by AT&T, at Mobile World Congress (MWC) 2017. One of the biggest annual showcases for connected technology, MWC will be held February 27 - March 3 in Barcelona. Biotricity will showcase how IoT- Connected Healthcare devices can assist in the diagnosis of heart conditions in AT&T's booth (#4A10). IDC predicts the global market for IoT will nearly triple, reaching $1.7 trillion by 2020. IoT has long been considered critical to wearable innovation and is becoming more prevalent in the medical space due to its numerous applications. Telecoms are encouraging the adoption of IoT by offering value-add services to help companies, such as Biotricity, go to market with fully connected devices.

"While great progress has been made in the treatment of cardiovascular disease, it is still listed as the underlying cause of the death of more than 800,000 people in the US each year, making it a perfect application for devices that support built-in IoT capabilities," said Waqaas Al-Siddiq, Biotricity founder and CEO. "Our medical-grade wearable is a superb example of how IoT devices can have a huge impact on healthcare. Bioflux will help diagnose patients by tracking and reporting on cardiac activity in real-time, 24/7. It will also allow physicians to monitor cardiovascular disease, especially arrhythmias, while helping to improve patient outcomes and curbing rising healthcare costs."

Consisting of an IoT-connected device, ECG-analysis software, and comprehensive remote monitoring center access, Bioflux generates customized reports tailored to a physician's individual patient for diagnostic purposes. Biotricity's goal is to develop multiple solutions for chronic illnesses by designing monitoring devices paired with chronic care management tools to improve patient compliance and empower the individual to take better care of their health. The Company's next-generation medical-grade wearables will pave the way for the adoption of preventive care measures into mainstream healthcare practices and help move from the current "reactive" model, where physicians diagnose and treat conditions and diseases after onset, to a proactive one. This is particularly true of managing heart-related illnesses because without any feedback mechanism or continuous monitoring, patients often fail to adhere to doctors' medical directives, dietary changes, exercise regiments, and lifestyle alterations.

Announced last summer, AT&T will power Biotricity's wearable medical devices with near real-time connectivity for data transmission. For an up close look at Bioflux while at MWC, visit AT&T's booth (#4A10), located in the Innovation City.

Provider of wearable health and fitness tracking devices, Fitbit Inc. (NYSE: FIT) ended 2016 by acquiring smartwatch startup, Pebble Technology Corporation, to help compete against other tech giants. In the statement, Fitbit said the purchase will exclude Pebble's hardware and the deal is mainly about hiring startup's software engineers and testers, along with gaining intellectual property such as their operating system, watch apps, and cloud services. "With basic wearables getting smarter and smartwatches adding health and fitness capabilities, we see an opportunity to build on our strengths and extend our leadership position in the wearables category," said chief executive officer and co-founder of Fitbit, James Park.

Garmin Ltd. (NASDAQ: GRMN) was well known for their car GPS devices, but has developed portable devices for many athletes. In Garmin's latest line of wearables, the Fenix 5, the company has built in GPS technology into the smartwatches and activity monitors, to track exercise info and routes. "A lot of people who traditionally bought handheld devices are now transitioning to wearables," said Garmin's vice president of sales, Dan Bartel. "The new Fenix, especially the new Genix 5X with mapping, can replace a lot of the products people used to have."

Apple Inc. (NASDAQ: AAPL) has teamed up with Stanford University gathering faculty members for an inaugural program, the Apple Watch Seed Grant, concentrated on innovative uses of the Apple Watch in the healthcare field. The program is aimed to "stimulate and support" the formation of original uses for the Apple Watch in healthcare, an area that Apple has long been an advocate of since the wearable was introduced. Ever since the launch of Apple's watch, chief executive officer, Tim Cook made notice of services such as the ResearchKit and Health application as underestimated sections of the tech market.

The newest version of tech giant Alphabet Inc. (NASDAQ: GOOGL) smartwatch operating system is projected to land in two of electronic company, LG smartwatches: the LG Watch Sport and LG Watch Style. The applications can run on its own without the need to be tied to a smartphone due to Google removing Data Layer APIs. The user interface has been revamped with Google's Material Design standards and users can now see big differences with menus, icons and the simplicity of selecting new watch faces. Google has also enhanced the messaging and input functionality for users creating new keyboards, along with third party keyboard apps. Smart replies will also be better developed to deliver a more instinctive messaging experience for users.

Please SIGN UP NOW at http://www.FinancialBuzz.com to Receive Alerts on Trending

Financial News from all these companies. "The Latest Buzz in Financial News"

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and PR marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site for advertising such companies. Financialbuzz.com has signed a four-month financial news dissemination and pr services agreement for ten thousand dollars directly from the biotricity inc. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on this site along with other financial news PR media services. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com agreed to a four-month financial news dissemination and pr services agreement for ten thousand restricted shares and twenty thousand warrants directly from biotricity inc. FinancialBuzz.com does not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed.

For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com

For further information:
Media Contact:
[email protected]
+1-877-601-1879
Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com