9/4/2002 - According to a new market study from Venture Development Corporation (VDC) titled "The Global Market for Wearable Computers: The Quest for Killer Applications", worldwide shipments of wearable computers totaled over $70 million in 2001. VDC forecasts the worldwide market will expand at a compound annual growth rate (CAGR) of over 51% through 2006, reaching over $563 million.
Lead Analyst Tim Shea believes that the potential upside for wearable computing is even more tremendous should certain "best case" scenario assumptions come to pass. "The true potential for wearable computing in 2006 could be well over $1.3 billion, if improvements are made in consumer based products, including commercially viable "smart fabric" technology. Survey feedback from nearly 500 survey respondents provided compelling possibilities of near-term adoption, assuming that product offerings can meet to user requirements for wearability/comfort, 'hands free operation', and application-specific support," Shea says.
VDC has identified the key factors driving demand for wearable form factor computers as:
The report, "The Global Market for Wearable Computers: The Quest for Killer Applications", is published by Venture Development Corporation of Natick, MA. This comprehensive report is available for $5,950.
About Venture Development Corporation (www.vdc-corp.com)
Venture Development Corporation, a technology market research and strategy firm, was founded in 1971. Over the years, VDC has developed and fine-tuned a unique and highly successful methodology for realistically forecasting and analyzing highly dynamic technology markets. VDC has extensive experience in providing multi-client and proprietary analysis in the MEMS/MST market. VDC also offers proprietary market research and a wide range of strategy consulting services in the areas of industrial measurement and control, factory automation, communications, electronic components, retail automation, power equipment, embedded systems and software, AIDC and RF technology.
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