South Korean tech giant Samsung Electronics has launched a new processor that is aimed at health-focused wearable products.
According to the company, the new chip is the first that can take multiple measurements—including body fat, skin temperature and heart rate—as well as process the information collected by itself.
The wearable market is expected to witness a huge traction in the years to come and all tech companies are leaving no stone unturned to make their offerings as wide as they can.
Over the next few years, healthcare providers and fitness buffs will do their part to help lift the market for wearable devices. According to a forecast by IndustryARC, a market research practice based in India, the wearable medical devices is expected to become $41.3 billion in sales by 2020. The segment will expand at a compound annual growth rate (CAGR) of 21.3 percent.
Healthcare providers will drive much of that demand as aging populations turn to wearable devices to help maintain their independence, indicates the analyst group’s forecast.
Samsung is expected to launch a devices based on this processor in next couple of months.