Wearable Devices Improve Business Operations

The wearable technology industry is experiencing high revenue as many global enterprises leverage wearables to streamline their service.

FREMONT, CA: Wearable technology is an emerging trend that industries are leveraging to improve the monitoring and tracking of user biological details. Wearable technology is an essential source of real-time information for the healthcare, sports, life insurance, and gaming industries. Wearable technology is an essential source of real-time information for the healthcare, sports, life insurance, and gaming industries. Research shows that wearable technologies contribute USD 594 billion to the internet of things (IoT) industry, while the wearable industry will reach USD 111 billion by 2027.

The wearable industry also integrates many emerging technologies like augmented and virtual reality (AR and VR) solutions to wearable devices, jackets, watches, and trackers.

Many industries and service providers can benefit from its applications.

Healthcare: The healthcare industry is one the largest wearable device proponent and reaps the most benefits. Healthcare providers can manage patient health from a distance and make accurate diagnoses based on real-time information. Patients and caregivers can monitor body temperature, heart rate, and blood pressure to make informed treatment decisions. Real-time data is essential to speedy treatments. Doctors observe much quicker and more accurate procedures where they do not need multiple tests to determine a patient's health status. Wearable devices also notify healthcare centers when patients experience symptoms of certain conditions like a heart attack.

Sports and fitness: Users that pursue fitness and those that engage in sports benefit from wearable technology's ability to capture and store biometric data such as footsteps, kilo calories lost, and heart rate. The sports industry is improving its training programs by leveraging real-time data. Top athletics teams use smart compression shirts to optimize their performance. These wearables utilize GPS, accelerometers, and biomedical sensors to measure athlete performance.

Workforce productivity and health: Businesses can ensure better workforce productivity, health, and well-being. Studies show that 79 percent of employees report increased productivity utilizing wearable devices. Employers also observe overall improvements in the workforce through better employee communication and teamwork. Employees can improve their time management, enhance communication, track employee activity, and improve job site safety measures.

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Insurance: Insurance companies can leverage stored biometric data to price policyholders accurately. Insurance companies can also access biometric data to accept or reject claims and help detect potentially fraudulent activities.