PARTNER GUEST POST: Intersog is a Chicago-based provider of mobile software development services.
There has been a lot of buzz surrounding the smart wearables market and there has been a lot of chatter long before the emergence of the . Throughout 2015, the wearables market has maintained an upward trajectory and it’s expected to keep growing.
Growth in this segment can probably be attributed to the fitness industry. Brands like and have definitely catapulted the popularity of wearables, but also increased the technological awareness of these devices.
According to a recent forecast from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker, 72.1 million wearables are expected to be shipped out this year (a rise of 173.3% from the previous year’s total of 26.4 million units). For the next five years, it also expected that smart wrist wear will continue to dominate the . As a result you can expect fitness trackers to evolve and further increase their presence.
The demand for wearables that run third party apps and ones that don’t is currently insatiable. But, it is expected that devices that run third party apps will grab majority of the market share in 2016. So what are the interesting markets that you can enter with wearables? We know that these devices are gaining popularity in health and fitness, but what else? Where can these devices become a game changer?
According to , the market research indicates that wearables will take a strange turn producing a line of new products that they call “long tail” of wearables. This segment is comprised of smart devices like clothing and , jewelry, sex toys, and . Most of these products are expected to come from startup businesses and not all of these crowd-funded gadgets will succeed. So it will be interesting to see how these devices will impact fashion, adult entertainment, and digital health.
Wearables are good for Business
Although it may not be clearly visible, smart watches like the Apple Watch have already had an impact in the business world. Further, smart jewelry like are also playing their part in the office and in the conference room. By delivering customized messages that can be viewed at a glance, this tech phenomenon is expected to continue to evolve and increase productivity (and not cause disruptions at meetings).
According to research conducted by Chris Brauer from Goldsmiths, University of London, employees are quite keen to incorporate wearables at the . As a result, this segment will grow significantly in the years to come. Beyond basic efficiency, the key benefits of are the potential to increase in employee support, increase employee wellbeing, and streamline customer interaction. Employee wellbeing is focused on employee health which can be supported by apps like .
Industrial Support & Compliance
An exciting market that’s opening up for wearables will focus on factories and safety. Devices like the Google Glass have already been used to ensure compliance, to enhance personal security, and to keep track of employee fatigue (and avoid accidents) are all breaking new ground. Further, there are also products like which is like a little computer worn on your wrist that instantly connects you to world of computability while staying mobile.
Industrial enterprises also have other devices that enhance the experience of working in an industrial setting. is an interesting gadget which is like a glove that is equipped with a Near Field Communication (NFC) tag reader and is essentially a gesture-recognition device. The product is best suited for functions associated with industrial usage and maintenance. It’s a gesture control device that will help employees operate their smartphones without ever reaching for them.
Some of the other wearables targeting the industrial market are as follows:
Daqri Smart Helmet
Spectrum Xli Field Survey Pack
Tobii Eye Glasses 2
Wearable Healthcare 2.0
It’s no secret that healthcare related wearable devices are having huge impact on the industry. But this is just the beginning as far as wearables are concerned. The is going to continue to explode with health related wearables crowding the market. Although there are a lot of players involved, it is still an interesting area to get involved in as the potential is endless.
To get an idea where digital healthcare is heading, take a look closer look at what’s already become a reality. Wearables devices like which is a wearable (robot) suit designed to help individuals who are unable to walk or stand (injuries to the lower body) is nothing short of revolutionary. Further, there is which is a wearable exoskeleton bionic suit designed to do more or less the same thing (think of a future where everyone can walk regardless of their disability).
These days we also have for birth control, (just what it sounds like), to detect cancer (early cancer detection), and to keep track of sleep. Further, what’s mind blowing when it comes to a health related invention is
The markets that wearables can penetrate seem to be only constrained by our imagination. There are already and for augmented reality and gaming, so it’s an exciting time to see how this technology evolves. With the North American and Israeli markets driving the growth of this segment, you can expect to hear more about smart clothing, modular devices, and more smart eyewear to meet the demand from the enterprise market.
And how have wearables enhanced your personal and work life? Please share your experience in the Comment section below.
image sources: Shutterstock