TMCnet News
Innovation Pushes Value of Wearable Technology MarketsNEW YORK, November 30, 2016 /PRNewswire/ -- The technology sector, due to its innovative nature, is continuously witnessing new industries gaining popularity. Currently, one such industry is the wearable technology market, which encompasses an array of products designed for a wide range of applications. According to a recent research by Scalar Market Research the global wearable technology market is anticipated to grow from USD 29.92 billion in 2016 and reach USD 71.23 billion by 2021, growing at a CAGR of 18.9% during the forecast period. Biotricity Inc. (OTC: BTCY), Fitbit Inc. (NYSE: FIT), Apple Inc. (NASDAQ: AAPL), GoPro Inc. (NASDAQ: GPRO), Alphabet Inc. (NASDAQ: GOOGL) The wearable technology market is fragmented into devices such as smart glasses, smart watches, activity/fitness monitors, glucose and heart rate monitors, as well as wearable cameras and virtual reality headsets. According to the research, the strong rise in the penetration of the smartphone devices is one of the key drivers for the wearable technology market. The growth of smartphone usage, along with the explosion of Internet of Things (IoT) is expected to drive the global market. Biotricity Inc. (OTCQB: BTCY) is a medical technology company which is focusing on improving healthcare by developing remote monitoring and wearable solutions designed to aid chronic disease prevention and management. The company's main product, Bioflux, is an ECG monitoring device that allows physicians to diagnose as well as remotely monitor cardiac patients. Biotricity Inc. recently announced that Bioflux received the necessary 501k clearance from the Food & Drug Administration (FDA). On November 15th 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) advertises itself as a company that helps people lead healthier, more active lives by empowering them with data and guidance to reach their goals. Fitbit has been the leader in the fitness and activity trackers market, yet sales have been disappointing over the curse of this year. To try and increase sales volume Fitbit has decided to diversify their product portfolio, specifically researching technologies that will shift emphasis on health. Fitbit has closely affiliated themselves with researchers carrying out clinical trials, and conducting medical research with well-known Universities such as Johns Hopkins and the Texas MD Anderson Cancer Center among those who have chosen to tap into data from Fitbit users around the world. Apple Inc. (NASDAQ: AAPL) smart watch has been a very important product for the wearable technology market, and it seems that the tech giant wants to cotinue its expansion in the industry. Bloomberg has recently reported that Apple is weighing an expansion into digital glasses, a risky but potentially profitable area of wearable tech. The glasses are still in exploration phase, but some of the protect features are predictable. The device will be connected wirelessly to the iPhones and offer various application. Apple will not be the first tech giant to try the commercialization of digital glasses, Alphabet Inc. (NASDAQ: GOOGL) has tried previously and failed to make the Google Glass a successful product. At the time Google Glass was viewed as an expensive product that didn't provide much for its price, looked rather clumsy and raised privacy concerns. 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. After a strong entail start, the company is now facing the same problem as Fitbit, as a lack of diversified product line hurt sales. This October GoPro has launched the HERO5 line of cameras that can auto-upload photos and videos to GoPro Plus, a cloud-based subscription service that makes it easy to access, edit and share GoPro content anytime and anywhere using a mobile phone or computer. For "The Latest Buzz in Financial News", SIGN UP & Visit: http://www.FinancialBuzz.com Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz 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 
|