Wearable technology outbreak will take ten years?
Market research firm IDC analyst Jeters Ublani (Jitesh Ubrani), said, in the wearable device market, wristbands device is the most easy to implement products. From an enterprise point of view, wristband device is most easily accepted by users, it is more widely used." Although optimistic about the market prospects of wearable devices, but some of the rapid return expected by some investors also warned. "Mature markets take at least 5 to 10 years," he said. "Many investors tend to look for short-term gains from the market, but obviously they don't happen in the wearable device market.". In addition to wristband equipment, clothing and eyewear products will also appear in the process of accelerating the development."
The high-tech eyewear products largely depend on augmented reality technology, including Microsoft's augmented reality glasses, HoloLens, and Intel's covert programs. In December, Microsoft's HoloLens development team said in an interview that the company's exploration of augmented reality will change the way users interact with each other. Microsoft spokesman pointed out that, without affecting the user's vision, augmented reality will allow users to move freely, changing from graphic design to everyday applications in all ways.
Headquartered in New York social media agency Laundry Service creative director Ross Sengold (Ross Sheingold) pointed out that, "three to five years to enhance reality, will usher in the market inflection point.". At that time, the product will reach the level that can be worn. Consumers generally accept this high-tech product in the right way."
Shane Gold believes that wearable technology requires a similar to Apple's iPhone products, will usher in the outbreak of the market. Although Shane said Golder augmented reality popularity earlier than market expectations, but the current wearable technology for high-tech industries in the proportion is still quite limited. "Augmented reality is now a part of everyone's lives, and it's already in the Snatchat and other applications, and no one really knows it." Shane Gold said.
Investment data agency PitchBook Data senior analyst Garrett Black (Garrett Black) pointed out that the existing wearable technology in product popularity there are still many obstacles. Battery capabilities, data privacy, and product prices are the challenges facing wearable technology developers. Black believes that wearable technology to break through the bottleneck, at least nearly ten years.
Black pointed out that wearable technology can be seen as a combination of the smart phone industry and the clothing market. Compared with smart phones, the existing wearable technology related products do not have a price advantage. When the product price can reach the level of iPhone mobile phones, it is expected to open and dominate the market." Black believes that the current wearable technology market has entered a sluggish stage of development, while improving battery life and increase physiological data tracking detection function, is the first step in its breakthrough niche market. He believes that this is Samsung, apple and other enterprises to explore new consumer markets, seeking new growth point of the only choice.
But it's not just tech giants who are entering the market, and non tech companies like Andemar are also joining the wearable technology market. The recent dema to related areas invested $710 million acquisition, such as MapMyFitness, MyFitnessPal and Endomondo, and strive to be a niche market into a mass market. In fact, the popularity of wearable technology products depends on consumer demand for these products. "The idea of a garment manufacturer is very smart," says Black. "If the cost of related products continues to decline, they can move on to the consumer Internet of things."."
In addition, data privacy has also been a problem that can not be ignored. Concerns about data privacy continue to rise as wearable technology and physical data collection become more frequent. Whether wearable technology can be used by consumers to communicate with their private doctors, the data privacy problem is undoubtedly a barrier. Consumer exclusion means a slowdown in the underlying market growth.
Black pointed out, "for now, wearable technology to achieve FDA level data acquisition, at least ten years."." Now, the data acquisition function of wearable technology is only monitoring heartbeat and step tracking, which is one of the reasons why it is still a niche market. The joint efforts of technology companies and garment manufacturers will make it a bigger market, and within three to ten years, the wearable technology market will no longer be a problem, but when it will break out.
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