It looks like wearable tech is getting the attention of big money. In the past we have talked about incubators, and other types of VC that are looking to back wearable tech, but it looks like the banks are starting to take notice.
Last Friday a report was issued by Credit Suisse about the rise of mobile devices. The analysis predict that the market is currently worth between $3 Billion and $5 Billion in consumer sales, assets and profits. The company is expecting a revolution in the industry, with the amounts set to go ten times higher in the next couple of years.
This is in line with the companyâ€™s generally optimistic approach to the economy. With their recent releases projecting more consumer confidence:
â€œConfidence among emerging market consumers has strengthened over the course of the last year, supporting our long-held positive thesis on the emerging consumer. Of just over 14,200 adults included in the survey across eight countries, 37 percent thought their personal finances will improve over the next six months and 9 percent expect some deterioration.â€
Source: Business of Fashion
Image: Morgue File