The first generation of products appeal to specific markets and certain use cases, but refinement in design, technology and connectivity will broaden application areas and speed up market adoption. Initially, the wrist is the most attractive location for wearable devices, which is shown by the success of the Pebble smart watch and the popularity of wristband activity trackers such as the Nike Fuelband and the Fitbit Flex. “However, today’s devices need to evolve into something more than single purpose fitness trackers or external smartphone notification centres in order to be truly successful” continues Mr. Svanberg. Berg Insight predicts that wearable technology will shift from being smartphone accessories into becoming proper stand-alone computing devices. Furthermore, closeness to the body and always aware capabilities will enable them to be more than merely miniaturised smartphones.
Google, Sony and Samsung have already launched products and other major players such as Apple and LG are expected to soon enter the market. Wide market availability of wearable devices also raises privacy concerns. “It is still uncertain where lines should be drawn, but as in the case with most new technology, individual users and solution providers have the responsibility not to misuse the capabilities enabled by wearable tech” concludes Mr. Svanberg.
Shipments of wearable technology devices will reach 64 million in 2017
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