Worldwide wearable market to surpass 200 million

The worldwide wearable device market (commonly referred to as wearables) will see continued growth as second- and third-generation iterations reach the market. These new devices will build upon the hardware and software of their predecessors and answer some of the shortcomings and concerns that potential customers have today.

According to the International Data Corporation (IDC )Worldwide Quarterly Wearable Device Tracker , the worldwide wearable device market will reach a total of 111.1 million units shipped in 2016, up a strong 44.4% from the 80 million units expected to ship shipped in 2015. By 2019, the final year of the forecast, total shipments will reach 214.6 million units, resulting in a five-year compound annual growth rate (CAGR) of 28%.

“The most common type of wearables today are fairly basic, like fitness trackers, but over the next few years we expect a proliferation of form factors and device types,” said Jitesh Ubrani , Senior Research Analyst for IDC Mobile Device Trackers. “Smarter clothing, eyewear, and even hearables (ear-worn devices) are all in their early stages of mass adoption. Though at present these may not be significantly smarter than their analog counterparts, the next generation of wearables are on track to offer vastly improved experiences and perhaps even augment human abilities.”

Read entire article at Payments Industry Intelligence
Written by Alex Rolfe


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TAGS:   Technology Advances, trends, Wearables


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First Data Launches Square Competitor

It would appear that First Data is circling Square — as prospective competition, that is.

The commerce technology company announced on Friday (Jan. 15) that it is releasing Clover Go, which — similar to Square’s offering — is an EMV-enabled card reader that plugs into an iOS or Android tablet or smartphone and works with a Wi-Fi or cellular connection, allowing merchants to accept payments outside of a traditional brick-and-mortar setting.

“While the Clover platform serves businesses of all sizes, Clover Go is especially beneficial for businesses with mobile workforces or entrepreneurs just starting out who want to accept transactions while complying with the EMV liability shift,” Dan Charron, executive vice president and head of global business solutions at First Data, stated in a press release. “Clover Go enhances our Clover product portfolio, which is designed to grow alongside our business owner clients as their needs evolve. Whether a business owner wants a card reader or the full Clover Station, First Data has the solutions that help businesses prosper.”

The press release goes on to explain that Clover Go works in concert with an app that merchants download; once a business is using the system, it can assign dollar amounts, including tax and tips, to inventory, as well as view transaction-level detail and the integration of data across all Clover devices that the business might use. The release adds that employees can download the app on their own devices and that Clover Go facilitates multi-user and multi-merchant functionality.

Read entire article at PYMNTS
Posted January 18, 2016


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