There is no doubt that wearable technology is highly prominent in the present times and most businesses around the globe are ready to invest their money in it. Going by the latest trends, consumers are quite intrigued with wearable technology and Accenture’s Digital Consumer Tech Survey 2014 reports avers that 52 percent of surveyed consumers across countries like Australia, Canada, India, South Africa, the United Kingdom and the United States) are interested in buying wearable device such as fitness monitors.
Now the wearable devices come in all shapes and sizes, starting from smart glasses to smart watches that also work as fitness trackers to smart clothing, smart jewelry, smart shoes, gadget gloves and virtual reality headsets like Oculus Rift. Thus, wearable technology is certainly trending. Most entrepreneurs are coming ahead to cash on this technology so let’s discover what factors are driving the wearable market.
Going by the reports, by 2017 wearable devices will capture the market worth a $50 billion and these trends indicate what the wearable market heading to. There are several reasons that contribute to easy access to the core technologies, capital as well as a wide range of wearable applications, thus leading to demand for wearable devices on the market. Hence it’s advised to keep a tab on the liked and disliked of wearable applications users as this can help investors know where to put their money in for maximum ROI.
Renowned Wearable App Segments
Healthcare Apps : This is one prominent wearable app segment where the app allows users to keep tabs on metrics like steps walked, calories burned and heart rate. Other than that, there are monitoring treatments and side-effects.
Travel Apps : You can locate places of interest (POI), restaurants and food; including the possibility of contactless/keyless entry for unlocking doors with the help of wearable apps.
Banking Apps: It enables customers to check balance seamlessly without taking out their Phones or tablets; or even finding the nearest cash machine.
Fashion Apps: Here the focus is both on the look and fit from smart clothing to accessories like smart jewelry and gadget gloves.
Media/Advertising Apps : In this sector, wearable apps works best to have customer’s attention glued.
Other than these, the wearable user application like reminder app, news feed app, stock price app can be accessed by easily using Maps.
What will wearable technology bring forth in 2016?
Well, now as we have entered 2016, it’s time for the wearable app market to open to a wider customer base, no matter how difficult it tends to be as people still have no clue how wearable devices can help them in their life or derive maximum ROI for business.
Report from GSMA says that smartphone penetration will hit 2.89 billion globally by 2017 while research indicates that will now look at their mobile screens nearly 220 times a day – and this is surely a cheering news for wearable app developers!