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WHERE IS WEARABLE TECHNOLOGY GOING?
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WHERE IS WEARABLE TECHNOLOGY GOING?
1.
WATCH OUT! Where
is wearable technology going? Wearable technology Units (2018) Value (2018) 130m US$8bn What's in the wardrobe? Eyewear Growing into it The size of the wearable technology market is set to grow. Yet it is still very small compared to other parts of the wearables and technology universe. 5 year annual growth rate (2013-18) Commissioned by Smartphones (inc. phablets) © The Economist Intelligence Unit, 2014 On trend or fashion faux pas? 2018FORECASTS The Internet of everyone Clothing and footwear 1.84bn Units (2018) Value (2018) 5 year annual growth rate (2013-18) 33% 4% Clothing 18% Jewellery US$1.06tn 50bn No. of Internet-connected devices by 2020 World population 7.5bn US$22.8tn World retail sales
2.
Retro styles Watches
© The Economist Intelligence Unit, 2014 Health Fashion Where is wearable technology going? Growth opportunities in wearable technology are attracting new market entrants to an old industry (see right). But existing businesses and consumers are already discarding some products. 1/3 On trend or fashion faux pas? Incoming Old New Outgoing Batteries not included THE LOOKING GLASS Pocket watch invented, 16th century Google X launches smart contact lens to help diabetics, 2014 Richard Nicoll shows 'Tinkerbell' dress at London Fashion Week, 2014 First wearable pacemaker fitted, 1958 LA Gear launches L.A Lights 1992 US consumers with a wearable technology device bought it in the last 6 months US consumers stop wearing smart devices within 12 months of purchase Apple Watch unveiled, 2014 60% NIKE Fuelband Sportswear firm is exiting hardware to focus on software INTEL SMS Audio Biosport Headphones with built in sensors to monitor heart rate Commissioned by
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Making wearables work
for you Where is wearable technology going? © The Economist Intelligence Unit, 2014 Sources: The Economist Intelligence Unit; Endeavour Partners; Marketsandmarkets; IDC; GeoHive; Cisco Batteries not included Back to start SOCIAL FABRIC Harnessing Bodies Built environment Wi-Fi backscatter, developed by the University of Washington, runs battery-free devices on energy harnessed from existing radio, TV and wireless signals Trend spotting Power Felt, developed by Wake Forest University in the US, is a fabric that generates electricity from the warmth of body heat BP is issuing FitBit devices and rewards to past and present North American employees as part of its staff wellness programme Salesforce offers a 'developer pack' to assist companies create apps that engage with customers via wearable devices Start-up TicTrac provides a single platform for syncing, tracking and anlysing all personal data from multiple devices Both Google Glass and the Apple Watch must be recharged every 12 hours. For the sector to really take off, a new source of power is needed. Lithium-ion batteries found in wearable technology devices have been on sale since 1991. Performance has gradually improved but it may now be reaching its practical limit claim researchers at the University of California, Berkeley “The sector is shifting beyond external wearables like wristbands or clip-on devices to ‘body-adapted’ electronics that further push the ever-shifting boundary between humans and technology.” World Economic Forum, Top 10 Emerging Technologies 2014 Scientists are looking beyond the battery. Technology is being developed so that devices can "run" off their surroundings Commissioned by
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