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.

Follow Tony John or read 677 articles authored by Tony John

Related Articles

LG G Watch vs Samsung Gear Live - a comparison and review

Are you looking to buy yourself a new smartwatch? Are you confused on buying LG G Watch or Samsung Gear Live? Then here is a cut-throat comparison between them. Read on this article to find the best smartwatch between the both.

HoloLens: Microsoft's virtual helmet

In this article, I am going to explain about HoloLens, which is an upcoming virtual reality helmet from Microsoft. It is considered as a rival product against Oculus Rift, which has gained huge publicity.

Smartwatch Project from Kickstarter- A biggest Hit

The Kickstarter is one of the World’s leading Space for funding Small projects that have potential to grow into large profitable scaled ones. This includes projects from all the fields like Cinema, art, Technology, design and many more. One of the Kickstarter project that has become a biggest hit in the technology field is the Smartwatch Project. Read on to know how this small project turned into million dollars market.

Sony SmartWatch Features

The Sony SmartWatch is introduced by Sony which is a classy android watch brings the latest technology to your hands. Read this article to know more about this Smartwatch.

XElectron M998 review - Cheapest watch phone in India for 2013

The XElectron M998 is counted as the cheapest watch phone in India and it is going to become a trend in 2013. Because of the lower cost, it does not have 3G or WiFi but it is equipped with all the basic features include a camera, Bluetooth and USB port. Read the review and know more of the features.

More articles: Wearable Devices Smartwatches Augmented Reality


No responses found. Be the first to comment...

  • Do not include your name, "with regards" etc in the comment. Write detailed comment, relevant to the topic.
  • No HTML formatting and links to other web sites are allowed.
  • This is a strictly moderated site. Absolutely no spam allowed.
  • Name: