Wearable Technology (WT) – WT goes far beyond the glasses, visors and headsets that many think of when they hear the term. Today our world is full of a host of gadgets that include intelligence garment labels like the ones you find in the neck (back) of a shirt or coat, as well as some that are in the soles of your shoes. Some of these are made of flexible circuit boards that appear to be nothing more than a sheet of plastic with gold foil on them. One recent estimate places the number of smart wearable devices above 410 million in 2020. The value of all those devices will hit an astonishing $34 billion in that same time period. Now the BCC Research study puts the global market for wearable computing products is projected to reach $22.6 billion. Either way it is a big and growing market. This segment is often included in estimates for the Internet of Things and far larger than many people have thought. Top applications includes sports, healthcare, and worker accountability.
The Internet of Things (IoT) age is upon us and by all estimates this period of rapid technological advancement and change will be 3 times the magnitude seen during the Internet era of the mid to late 90s. Forbes recently published an article that projected the Internet of Things economy would be $19 trillion and contain 50 billion connected devices by 2020. That is tremendous growth in less than 5 years. Consider the manufacturing of those devices, their installation and connectivity. Consider all the data those devices will generate. Proper analysis and use of that data will have profound implications on decision making and modern operations. All of that translates to a significant impact on businesses in virtually every industrial segment. That also translates to a large number of programs and projects which will put a strain on the current pool of project managers. Is your organization ready? Are you?