10 Mind-Blowing Facts about Wearable Technology


Wearable technology is the future - do you agree? Read some interesting facts about this technology and how the wearable technology is heading.

There is no doubt about it – wearable technology is the future. We're becoming increasingly familiar with the concept of wearables; from fit bands and smartwatches through to Google Glass. But did you know just how much the wearables market is worth? Or which age group is embracing wearables the most? Here are ten mind-blowing facts about wearable technology that will show you just how important this future tech really is to all of us:

#1 – It's worth a cool $3billion – and growing fast!
Wearable technology will grow into a multi-billion dollar industry in the next five years. In fact, a recent report with the snappy title "Wearable Electronics and Technology Market by Applications (Consumer, Healthcare, Enterprise), Products (eye wear, wrist wear, footwear), Form Factors and Geography - Analysis & Forecast to 2014 - 2020" has predicted that the industry could be worth an astonishing $11.61 billion by 2020. If you consider just how quickly the market for tablets and smartphones has grown, it's easy to see why wearables could follow the same explosive trend.

#2 – It's part of our working life
Wearables have been shown to increase productivity amongst employees by up to 8.5%, as well as improving their sensation of job satisfaction by 3.5% - a small number but any boost in workplace moral has to be good for productivity!

#3 – We're getting sporty
In 2013 the real runaway winners in the wearable marketplace were sports bands such as FitBit, Jawbone and Nike Fuelbands, which accounted for 97% of all smartphone-enabled activity trackers. So wearables aren't just making us smarter, but fitter too.

#4 – Consumers are more aware of wearables
In a recent poll 52% of people said that they were aware of wearables, and around 33% said that they'd be likely to buy a piece of wearable tech in the future.

#5 – There's a but...
And it's the price. Around 55% of those asked in a poll said that they thought wearable tech was too expensive. Another 24% believed that they had too much tech already, and as such were unlikely to add to their collections by buying wearables any time soon.

#6 – Augmented reality is a real draw
Slipping on a pair of Google Glass eyepieces seems to have mass appeal, with an estimated 21million units in annual sales by the end of 2018. However, Google isn't having things all its own way, and Intel has recently entered the field with a $25million investment in US firm Vuzix, who previously focused on commercial applications for smart eyewear in hospitals, call centres and warehouses, but are looking to expand into the 'fashion smart eyewear' market.

#7 – Watches are getting smarter
But it does seem that consumers still need some convincing when it comes to smartwatches, with only 23% saying they'd be likely to buy one. The hiccups in the first generation of smartwatches didn't do the concept's identity any favours, and it's still hard to see exactly where they're going to fit into the market. But with functions such as the ability to make and send calls, track fitness and listening to music, consumers may warm to the idea of smartwatches eventually.

#8 – A small but growing fanbase
Currently around 15% use wearable tech like fit bands and smartwatches, and with fitbands set to be one of the big sellers this Christmas, those numbers are bound to increase.

#9 – Young at heart...
It's mainly the younger generation that has really embraced wearables, with 48% of users aged between 18 and 34. But it's split pretty evenly between the genders, and it's also often the more affluent who tend to go for wearables.

#10 – What can't you live without?
When asked, users of wearable tech such as Google Glass and smartwatches ranked their devices far higher on the 'can't live without' scale than things such as Kindles, iPods and even games consoles. The big selling points were the functionality and fashionable aspects, and that all-important 'cool' factor.

So what's the future for wearables? For those in the industry such as R&D specialists Plastic Logic, wearable technology is very much the future. "Flexible electronics is a reality, already proven through the development and manufacture of plastic, bendable displays and sensors," says Plastic Logic CEO Indro Mukerjee. "For the first time a fully organic, plastic, flexible AMOLED demonstration has been achieved with a real industrial fabrication process. This marks the start of a revolution in wearable products, the next frontier in consumer electronics - 2014 has been the year that wearable technology started to go mainstream."

#6 – Resource: http://www.theguardian.com/technology/2015/jan/05/intel-google-glass-vuzix-investment



Article by Tony John
Tony John is a professional blogger from India, who started his first Weblog in 1998 at Tripod.com. Tony switched to blogging as a passion blended business in the year 2000 and currently operates several popular web properties including IndiaStudyChannel.com, Techulator.com, dotnetspider.com and many more.

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