Evaluation of the wearable technology market within the scope of digital health technologies

Abstract

Owing to developments occurring in digital technologies together with electronic and mobile technologies, the businesses have turned towards the technology element more in order to differentiate. Wearable technologies which are rapidly developing technologies, have increased their popularity and become a focus of interest for the businesses to create new markets and produce new technological products. Wearable technologies, which are called as technologies integrated onto the accessories and outfits used by people and have been involved in several sectors, have a particular impact on the health sector. By means of wearable technologies, private data is transferred to smart devices via smart detectors and thus, the individual’s follow-up related to her/his medical condition is fulfilled properly. Wearable health technology products, with their use aimed at increasing the wealth of communities, are turning into a need rather than a personal choice every passing day. Therefore, this study focuses on wearable technological products, which attract the attention of people and the businesses which plan to increase their sales by creating new markets. The purpose of this study is to examine and give information about wearable health technology products and their market, which positively affect community health within the wearable technology products market. The study primarily gives information about the development of wearable technology and wearable health technology. Then it gives information about wearable technology and wearable health technology market and touches upon the situation of the market in Turkey and in other countries. Consequently, it is seen that the wearable health technology market is a rapidly developing market. An increase in the demand for products that may increase people’s quality of life, make instant health follow-up and ease their life; will create a market potential for the businesses. Thus wearable health technology market is considered as a very attractive market for both producers and consumers.