From brainwave readers to exercise trackers, wearable devices are taking off--and creating a big opportunity for start-ups.
The famous line from Socrates that the unexamined life is not worth living has taken on a new meaning in the modern era. A wave of companies, many of them start-ups funded through sites such as Kickstarter and Indiegogo, is creating wearable electronic tracking devices for nearly every part of the human body, from brainwave-monitoring headbands to smart socks. And analysts expect the industry to explode over the next five years.
Retail revenue from wearable technology is predicted to jump from about $1.4 billion in 2013 to as much as $19 billion in 2018, according to a new study from Juniper Research. Here’s a quick industry snapshot. If you want in, move fast: There’s hardly any room left on the human body that isn’t about to be covered by a device.