According to IMS Research wearable technology sales are expected to grow from 96 million devices in 2012 to 210 million devices by 2018, creating a $30 billion market.
ABI Research is even more optimistic, predicting a 2018 market of as many as 485 million wearable devices. Core market segments driving all this wearables growth include healthcare, fitness, infotainment, industrial and military.
Major wearable tech categories for consumers include:
- Activity trackers – Of all wearable technology devices, 61% are fitness related. Arguably the best-known brand in this emerging segment is Fitbit, whose Fitbit Classic was launched in September 2008. That device, a clip-on, has been largely subsumed by the popularity of bracelet-type trackers, like Fitbit Force, Jawbone UP and Nike FuelBand.
- Augmented reality – No product category has done more to propel wearables than Google Glass, a product that even at its lofty developer price of $1,500 has garnered a huge amount of publicity. The technical description for Google Glass is a wearable computer with an optical head-mounted display (OHMD). Early applications include fitness, real estate, shopping and healthcare.
- E-wear – Smart clothing, or e-wear, as we like to call it, is exemplified by Sensoria’s Smart Fitness Socks, which is actually a clip-on that is connected to a pair of socks. As more advanced sciences begin to offer the opportunity to interweave technologies within fabrics, expect this segment to take off.
- Smartwatches – This wearables segment was trailblazed by the Pebble Smartwatch, a project that was auspiciously supported by a $10.3 million Kickstarter project. Pebble’s limelight will not last long now that the Samsung Gear smartwatch has launched, while Apple is also rumored to be entering the marketing soon. One out of five of U.S. consumers, or 20%, are “very interested” or “somewhat interested” in buying some type of smartwatch, reports Harris Interactive.
Of all wearable technology devices, smartwatches from Apple and Google are expected to push the innovation envelope the most. A watch that includes social media updates? We’ll take one!
Lainie Liberti is a recovering branding expert, who’s career once focused on creating campaigns for green – eco business, non-profits and conscious business. Dazzling clients with her high-energy designs for over 18 years, Lainie lent her artistic talents to businesses that matter. But that was then.
In 2008, after the economy took a turn, Lainie decided to be the change (instead of a victim) and began the process of “lifestyle redesign,” a joint decision between both her and her 11-year-old son, Miro. They sold or gave away all of of their possessions in 2009 and began a life of travel, service, and exploration. Lainie and her son Miro began their open-ended adventure backpacking through Central and South America. They are slow traveling around the globe allowing inspiration to be their compass. The pair is most interested in exploring different cultures, contributing by serving, and connecting with humanity as ‘global citizens.’
Today Lainie considers herself a digital nomad who is living a location independent life. She and her son write and podcast their experiences from the road at Raising Miro on the Road of Life.
