Wearable Tech - Your Gratified Self
What gear do you want to wear? Why do you want it?
Read about reasons and trends here and now.
Wearables range from apparel and textiles (exoskeletons, garments, and skin patches) to devices that are worn on arms, feet, heads, legs, and wrists. Tech-enhanced cameras, glasses, and jewelry are also included
Addressing Human Needs
An intriguing article from early 2015 reviews human psychology and its influence on new product adoption. Specifically, the author looks at reasons for the “lukewarm reception” for wearable devices and points to lack of a “humanistic approach.” Manufacturers may not be addressing users’ perceived needs, missing the “softer side of adoption” in the wearables market. Achieving “intimacy at a distance” and “connection” could support consumers’ sense of belonging.[1]
Wearables Market Overview
According to a report from ResearchandMarkets.com, the global wearables market is forecast to reach nearly $70.0 billion during the next ten years. Health care is expected to drive adoption, as competitors develop products and services that combine electronics with fitness, medical, and wellness tracking. The biggest change is expected from e-textiles, which will be adapted from military to consumer use.[2] [Note: Growth may happen even faster: Jupiter Research forecasts a wearables market valuation of $80 billion by 2020.]
2017 Update
Regardless of the category (smart wearables, wearable exoskeletons, etc.), market forecasts are still robust. Gartner expects smartwatch global revenues to reach $17.4 billion by 2021 while the current total wearables market is $30.5 billion (2017).[3] Established smartwear brands are: Apple, Fitbit, Garmin, Jawbone, Moto, Polar, and Samsung. Other competitors include Lifesense, Misfit, Razer, ReWalk Robotics, Sarcos, Wearable Robotics, and Xiaomi.
[1] “Human Psychology,” Wearable-Technologies.com, February 2015.
[2] “Global Wearable Technologies, Markets, Forecasts 2015 – 2015,” February 25, 2015.
[3] “Wearables Market to Generate 30.5 Billion Dollars in Revenue in 2017," August 2017.