Six in 10 smartphone users consider that wearables have uses beyond health and wellness, a new report has said, adding that devices related to personal safety and security such as panic buttons and personal locators get the most interest.
Swedish telecom giant Ericsson in its ConsumerLab report on 'Wearable technology and the Internet of things' said that consumers predict a booming wearables market beyond 2020.
The report said: "Wearables might replace smartphones and will help consumers interact with physical things and objects in the Internet of Things (IoT) era."
Although the ownership of wearables among smartphone users in the surveyed markets has doubled in the past year but it will take at least another year for the current generation of wearables to go mainstream.
"A more diverse set of wearables, such as personal safety devices and smart garments, will go mainstream beyond 2020 -- but when they do, a booming market can be expected," the report said.
Don't Miss: Incredible Pokemon Gifts
Also, 38 percent of smartphone users said wearables would be used to perform most smartphone functions within just five years.