Hampshire, UK – 10 September 2013 – New findings from leading hi-tech analysts, Juniper Research, have revealed that hardware and service revenues from app-enabled smart wireless accessories will exceed $23 billion in 2018, compared to $2 billion this year.
The key areas driving this growth will be fitness, health, consumer electronics (CE), payments and enterprise devices and revenue growth will be propelled by four key elements:
- An increase in the adoption of the ‘software as a service’ proposition
- The development of additional services delivered within the app
- The emergence of a ‘freemium’ model in fitness and healthcare wearables
- The rise of payment transaction revenues.
Juniper’s latest report, ‘Smart Wireless Accessories: CE, Fitness, Health, Payments & Enterprise 2013-2018’, found that several business models exist within the smart wireless accessories market, defined to some extent by the segments to which they belong.
The development of a robust environment for the creation of peripheral based business models will affect how revenue is generated within the market, along with technology standards and regulations playing their part, especially with regard to payments and healthcare accessories. Report author Nitin Bhas added: “The wireless accessory ecosystem is still developing and will evolve over the next five years to become a reality for a much broader audience”.
The report notes that while new, as yet undeveloped, use cases will emerge in the consumer electronics market over the forecast period, the business case supporting payment smart wireless accessories is both intuitive and credible.
While this supports the rapid development of payment accessories in the medium term, companies are likely to focus on core markets for the foreseeable future, accounting for the market being skewed towards the US, Europe and Far East where services are currently being offered.
The complimentary ‘Accessorise your Mobile Life’ whitepaper is available to download from the Juniper website together with further details of the full report and the Interactive Forecast Excel.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
