Wearable technology – The industry’s latest craze
Although wearable technology has been around in one form or another for quite some time, it has gained a lot of attention in recent years, with more and more manufacturers recognising its potential.
Not only does this latest fad open up the possibilities of new product categories and new types of consumer, it also provides potential for valuable revenue streams in a highly competitive technology market.
From the headline-grabbing and somewhat controversial Google Glass, to more humble and modest Kickstarter projects such as the Pebble smartwatch, wearable technology looks like trend that won’t be disappearing anytime soon.
In fact, according to analysts at leading global financial services company Credit Suisse, wearable technology will be “the next big thing,” and is forecasting the market to jump from around $3-5bn today to $50bn over the next 3-5 years.
So what products are currently available? What are the latest developments? And what does the future have in store?
Google Glass
Just in case you’ve somehow missed the hype surrounding the biggest news in wearable technology for the past 12 months, here is a quick recap.
Google Glass is a type of wearable computer that features an optical head-mount display (OHMD). The device displays smartphone-like information in front of the user’s eyes and is controlled via natural voice commands, as it is Google’s mission to create a mass-market ubiquitous computer.
Just in case you’ve somehow missed the hype surrounding the biggest news in wearable technology for the past 12 months, here is a quick recap.
Google Glass is a type of wearable computer that features an optical head-mount display (OHMD). The device displays smartphone-like information in front of the user’s eyes and is controlled via natural voice commands, as it is Google’s mission to create a mass-market ubiquitous computer.
As opposed to inputting information physically, a Google Glass user can connect to the internet, take pictures, record videos, access online content, receive directions and translate dialogue through speech alone.
At this year’s Google I/O, the search engine’s annual developer conference, Glass generated a huge amount of attention from the event attendees. With official Facebook, Twitter and Tumblr apps making their debut, numerous developers were expressing their interest in the device.
However, Google seems to have taken a backseat in the promotion and development of Glass. Now that willing participants to Google’s Explorer program are testing the device, the tech giant seems happy for Glass to evolve naturally.
In some ways, this is a risky strategy, as concerns over privacy and social applications still exist. What’s more, Google Glass seems to have numerous critics, with wearers sure to be the subject of ridicule. But, only time will tell whether Google’s organic approach to mass-market acceptance will work.
Apple iWatch
Although there has been no official word from the company, it is clear that Apple is taking wearable technology very seriously. Since the passing of Steve Jobs, the company has been under pressure to release new and innovative products, which has been somewhat lacking under new CEO Tim Cook.
However, at the AllThingsD conference earlier this year, Cook said that wearable technology was “profoundly interesting” and was “ripe for us to get excited about.” So much so that speculation over the Cupertino-based firm’s iWatch project has gained significant traction in recent months.
If rumours are to be believed, the connected smart wristwatch, which will notify wearers of messages, calls, events and reminders, is currently being developed.
Along with registering the iWatch trademark in Japan, Mexico, Russian, Taiwan and Turkey, Apple has also been aggressively hiring staff to work on the project according to sources familiar with the matter. Despite having a pool of talented technical experts, engineering and development problems have apparently been a big issue.
In another recruitment drive for potential wearable technology, Apple recently hired Paul Deneve, the outgoing chief executive of Yves Saint Laurent to reportedly work on “special projects,” which could include the iWatch.
Optimistic Apple fanatics were hopeful of a wearable tech indication at this year’s WWDC (worldwide developers conference), but attention focused on iOS 7, OS X Mavericks and the new Mac Pro.
Other wearable tech products
Having been financed via crowd-funding platform Kickstarter, the Pebble E-Paper Watch is a wearable tech solution that already exists for iOS and Android smartphone users.
Featuring a low power LCD screen, vibrating motor and a three-axis accelerometer, the Pebble can display standard notifications as well as lifestyle apps including weather forecasts and running trackers. The unique and innovative USB-cable charges the device magnetically, so as not to compromise water resistance.
Another notable product currently on the market is Nike+ FuelBand, a health and fitness-inspired digital bracelet that connects to a user’s iPhone.
The band’s accelerometer has the ability to track daily movements and exercise routines, with progress displayed on the FuelBand’s red, yellow and green LED display. Further information can be viewed on the paired iOS device and users can share their achievements on Facebook or Twitter.
Therefore, with analysts predicting future success, manufacturers pursuing new ideas, prototype versions being developed and finished products available to buy today, wearable technology is most definitely here to stay.
