As sensor technology has evolved over the past decade, the digital health industry is demonstrating new ways to address health concerns with connected health monitoring devices. These app-connected devices measure heart rhythm, blood pressure, blood glucose levels and other vital signs. They can help people with chronic diseases track their day-to-day health, alert them of major changes, and share the results with doctors. CTA predicts that connected health monitoring devices will generate nearly $1 billion in revenues in 2020, a healthy start for a new category.
The Internet of Things brought the smart home to the masses over the past decade. Devices such as smart doorbells and home security technologies allow homeowners to monitor activity or answer their front door while they are away. Consumers benefit from home automation tech like smart lighting and smart thermostats, which help manage home energy use. Smart home products are becoming more predictive and intelligent, with the ability to take actions based on a person’s daily activities and personal preferences. CTA forecasts over 35 million smart home devices will ship in 2020, a 15% increase over 2019.
AI — specifically speech recognition — has changed the audio market forever. Wildly successful smart speakers sparked this trend with digital assistants found in virtually every audio product now. True
wireless earbuds are taking audio a step further, representing one of the best examples of how embedded technologies can lead to market success. Integrating Bluetooth, motion sensors, touch sensors, voice recognition, and wireless charging, true wireless earbuds are expected to generate $8 billion in revenues in 2020 (up 30% year-over-year).
As 2020 unfolds, new technology mashups will continue to push the envelope and open up new opportunities for the industry in 2020.
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