Wrist Wearable Devices Market to Reach $35 billion by 2020 Wrist Wearable Devices Market

wrist wearable devices and the frequent product launches by manufacturers with advanced functionalities. The wrist wearable devices particularly fitness bands and activity trackers have retention periods between six months and one year while smart watches generally exist for longer periods ranging between 2 years and 3 years. Due to lack of data perspective in fitness bands and activity trackers users get easily bored with these devices and impacts their service life while smart watches with high cost tend to serve the user for longer periods. Moreover, frequent product launches with advanced functionalities impact the user’s behaviour to opt for current wrist wearable devices. A lot of start-ups enabled by crowd funding in the field of activity trackers and fitness bands have reduced their retention life. The users affected by the new functionalities in the current devices tend to prefer them, thus making the existing wrist wearable devices obsolete and create obstruction for the wrist wearable devices market to realize its full potential. 5.3 5.3.1 MARKET CHALLENGES DATA PRIVACY & SECURITY ISSUES TO DAMPEN MARKET GROW TH The wrist wearable devices store a large amount of sensitive data about the user. The data may vary from the health conditions to the user’s location. In case, if these devices are misplaced or lost, the data of the user is prone to be hacked that can cause disruption in the device operation and their further likeability for mass adoption. Also, as most of the wrist wearable devices are now being integrated with global Positioning Systems (GPS), the user’s location information is easily shared by them that can be retrieved by advertisers with ease. Most of the user’s location data is controlled by respective network operators that include mobile content providers, thus raising concerns for the users about their privacy. All these factors raises serious issues with the utilization of wrist wearable devices appropriately that may dampen the consumers’ confidence and thereby, affecting the market growth of the devices. 5.3.2 RELIABILITY & ACCURACY OF A DEVICE POSES CON CERN The wrist wearable devices integrate miniature sensors that pose challenge in terms of data accuracy and reliability. Although, these sensors are low-cost that facilitate the production of inexpensive wrist wearable devices but they are less reliable significantly in linearity, drift and offset. Although the errors arising due to aforementioned three factors can be reduced by calibration but this process is expensive and does not address the problem with drift entirely. The prominent example includes the offset and drift errors in accelerometer. The offset error in

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