Strong Growth Expected for the Wearable Technology Markets

News provided by

Dec 12, 2016, 08:58 ET

NEW YORK, December 12, 2016 /PRNewswire/ --

http://www.Financialbuzz.com - The technology sector is constantly growing with new innovations. According to the new market research report "Wearable Technology Market" published by Scalar Market Research, the wearable technology market is worth $28.89 billion in 2016 and expected to reach $71.23 billion by 2021, growing at a CAGR of 18.9% from 2016 to 2021. Due to its constant technological advancements, high acceptance level of the consumers, and the innovative range of available devices make up the key driving factors highlighted in the wearable technology market report. Biotricity Inc. (OTC: BTCY), Fitbit Inc. (NYSE: FIT), Apple Inc. (NASDAQ: AAPL), GoPro Inc. (NASDAQ: GPRO), Alphabet Inc. (NASDAQ: GOOGL)

The strong rise in the penetration of the smartphone devices is one of the key drivers for the wearable technology market. The growth smartphone usage along with the explosion of Internet of Things is expected to drive the global market, according to the research. The growing venture capital funding for numerous emerging market players is also a contributing factor for the overall augmentation of the wearable technology market, during the forecast period.

Currently, medical technology company dedicated to refining healthcare by evolving solutions that aid chronic disease prevention and management, Biotricity Inc. (OTCQB: BTCY) has two products: Bioflux and Biolife. Bioflux is an ECG monitoring device that lets physicians diagnose as well as remotely monitor cardiac patients. Bioflux was recently received with the necessary 501k clearance from the Food & Drug Administration. Biolife is a medical grade personal heart monitor that provides patients with information of the performance of their heart and is not out in the market yet. Information such as respiration, physical activity, calorie burn, core body temperature, and more.

Biotricity Inc. announced a partnership with Global to Local (G2L), an organization dedicated to providing programs that improve individual and community health by expanding access to healthcare services, and empower economic development in the most diverse and underserved communities. G2L has tested numerous chronic disease management devices and as of this date have not found any that can properly address the needs of patients, the needs providers, and the needs of health systems in a way that creates efficiency and reduces costs.

Biotricity Inc. founder and CEO Waqaas Al-Siddiq said in a statement, "Our partnership with G2L is an important step for us, as we develop a solution for the chronic care markets they serve… As we move beyond the cardiac market, we will utilize G2L's diabetes and care management expertise to build a chronic care management platform for diabetes and other chronic illnesses,"

Fitbit Inc. (NYSE: FIT) has been the leader in the fitness and activity trackers market, yet sales have been disappointing this year. Recently, Fitbit has acquired smartwatch market, Pebble, to put much substantial importance on the smartwatch. "I draw an analogy with our own history at Fitbit," Co-Founder and Chief Executive Officer, James Park said. "The closest device you could draw a comparison to [when we started] was a pedometer. And we came up with a radical new concept around activity trackers and really transformed that market, and grew it into something of a size that people couldn't imagine."

Apple Inc. (NASDAQ: AAPL) smart watch has been an important product for the wearable technology market, and it's very likely that they want to continue its expansion in the industry. Lately, the tech giant's biggest update to the Series 2 Apple watch was that it had added a GPS tracking, meaning that users will no longer need to link it with their phone for mapping runs and or other activities. The new update allowed app makers for fitness enthusiasts, Runkeeper to take advantage of that change by offering more comprehensive stats and a detailed map.

Alphabet Inc. (NASDAQ: GOOGL) has tried previously and failed to make the Google Glass a successful product. But recently, Google Glass patient-charting solution startup Augmedix, finished a $23 million funding round that added new investors, OrbiMed and McKesson Ventures into the circle. The Augmedix Google Glass-powered service lets doctors search for medical records without the use of a computer saving doctors up to three hours a day. With the added funds, Augmedix plans to build out its team of approximately a thousand scribes and open new offices internationally to meet the growing demand. This signals a persistent interest in the use of wearable technology and augmented reality in the healthcare sector.

GoPro Inc. (NASDAQ: GPRO) has become a prominent name in the wearable technology market as it has introduced high definition wearable cameras, designed to help athletes self-document themselves engaged in sport, but has become a popular product among many who love to film their experiences, whatever they may be, and share them online. The company's products include HERO line of capture devices. From extreme to mainstream, professional to consumer, GoPro enables the world to capture and share its passions in the form of immersive and engaging content. It develops product solutions to enable consumers to capture, manage, share and enjoy some of the important moments in users lives.

Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and pr marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site for advertising such companies. Financialbuzz.com has signed a four-month financial news dissemination and pr services agreement for ten thousand dollars directly from the biotricity inc. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on this site along with other financial news pr media services. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com agreed to a four-month financial news dissemination and pr services agreement for ten thousand restricted shares and twenty thousand warrants directly from biotricity inc. FinancialBuzz.com does not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com

For further information:
Media Contact: [email protected] , +1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com