What’s on the Market in Wearable Tech
Wearable technology has come a long way from the first widespread wearable gadget, the calculator watch. The wearable tech industry has been receiving a lot of attention in the past few years. It is likely on the brink of rapid ascension, especially with big hitters like Samsung and Apple pursuing the opportunity.
Equally as important, the fashion industry is also taking note of the growing market. In fact, just last week Toronto hosted an exclusively wearable tech fashion show. In order for the masses to buy into wearable tech, it needs to look good. It is likely that no matter how cool or convenient a gadget may be, consumers won’t buy unless it looks visually appealing. Perhaps someone like Tom Ford can figure out how to make Google Glass look cool.
Predictions on the market size vary depending on whom you ask. Looking at the chart below, even the most pessimistic forecast indicates a descent-sized opportunity.
For you eager investors looking to cash in on the opportunity, here are the top eight companies in wearable tech, according to Business Insider. You’ll find the usual suspects in there – Apple, Samsung, Google – but don’t forget companies like Nike and Adidas, who have been in the wearable tech industry for years now.
Also, the wearable tech boom coincides with another growing and very significant technological revolution, the Internet of Things. Wearable tech’s role in IoT will be to connect your physical body to the ecosystem by sending information on your mood, health, preferences, etc.
Big things are coming in the next few years. It will be interesting to see how tech can further integrate itself into our lives.