Our Wearable Innovations
The Rise of Smart Health: Insights from CBS
Surge in wearable health tech prompts privacy concerns
Jul 12, 2018
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More than 50 percent of adult Americans have at least one chronic health condition. Tech companies are now introducing products that promise to help users keep a constant eye on their health including blood pressure, glucose levels and heart problems. The so-called "wearable hospital" is a more than $6 billion industry and it's growing. While the products offer hope, many people have security and privacy concerns. Brian Cooley, editor-at-large at CNET, joins “CBS This Morning” to discuss how users’ private information could be at risk.
GRAND VIEW RESEARCH
In 2024 Grand View Research did a study on Global Wearable Technology. Each graph shows an overview based on wrist wearers that are led by different fitness brands to fuel health related cases. By 2030 there will be an increase as to how many users will continue to buy these products whether it be for personal wellness, their everyday technology needs or for an enhanced convenience into their daily lives.
Led by North America with producing the largest share at about 34% in 2024, it's a rapid expansion powered by wearable wrist wearers. Smartwatches and fitness brands dominate the market by exceeding over 58% of revenue in 2024. With the market valuing at approximately $84.2 billion USD and expecting to grow nearly twice its current figure to $186.1 billion by 2030, it highlights a robust growth in wellness and health tech on everyday electronics. Fueled by demand for tools that propel and monitor vital health metrics like chronic diseases such as heart rate, sleep and oxygen tracking are forecasted to grow at a compound annual growth rate (CAGR) of 13.6% between 2025 and 2030.
