Retail companies have begun to find uses for wearable technology that will proliferate their use as time goes on. On a business level, the wearable industry is something that could ultimately shape and reshape how employees interact with the company. Wearables placed on employees could ultimately allow for better cooperation with them members as well as providing information on products.
Research on the industry done recently shows that the shipments of wearables will increase to almost 10 million by the year 2022. As of recent, the market will reach 2 million by the end of 2017. This represents a CAGR of 38%, suggesting that growth will continue to get higher. The implication of these numbers shows that the market on retail wearables is something that will soon be one of the fastest growing markets.
The industry also includes devices such as smartwatches, smart glasses, wearable cameras, wearable scanners and hearables. Stephanie Lawrence, a research analyst at ABI Research recently stated that “as online retailers are gaining in strength, the remaining physical stores are searching for ways to encourage customers to return and shop with them.
Wearable devices provide shop staff with the ability to look up stock-level information, request help from colleagues, and upset other products.” The industry on wearables is working to ensure that customers are dealt with in a quicker and more effective way. Using this new smart technology will help to build better business infrastructure, and a more cost efficient system for businesses to follow.
As the uses continue to grow for these devices, more and more engineers will enter the space, increasing the potential to a large amount. The hopes are high that this market will continue its incredible growth rate, and help to revolutionize the market.