VISIONARY TECHNOLOGY LEADERSHIP

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$19 Billion Market Opportunity by 2018

Have recently become fascinated by the early market examples of wearable technologies and their future possibilities for improved Next Tech Waveprofessional and personal productivity. Leading the pack:

  • Google has an entire web site dedicated to Google Glass. In a highly graphical fashion, Google asks you to imagine that next bike ride, creating that perfect meal, instant visual language translations, picking the ideal golf club for the distance, and composing that perfect song.

 

  • Nike launched the FuelBand and its universal measurement of movement of all kinds of activities with what they branded NikeFuel. The wrist band is designed to measure whole-body movement no matter one's age, weight, or gender. A companion SmartPhone app tracks the individual's active life and encourages exceeding personal exercise goals. 

The news from multiple companies planning their entry into the wearable technology space keeps growing. Examples from the last couple of months:

  • Samsung jumped into the fray of the long rumored product from Apple - The Smart Watch. From the creative historical web commercial, this type of solution has been requested since the stone ages, starting with Fred Flintstone.
  • GoPro has a line of miniature cameras that are worn by athletes to film their extreme sports activities. Nikon was recently rumored as planning wearable cameras in their future. See a vertigo inducing extreme mountain bike example filmed with a GoPro camera.
  • Nissan introduced the Nissan 3E (3E=3rd eye) which is a Google glass like product. As indicated by the car manufacturer, the user will be able to use the Internet, communicate, etc. with the Nissan 3E. Their futurist video points a man / machine link up to improve the driving experience.
  • Evena Medical introduced the Eyes-On glasses with the promise to revolutionize medicine. Features include multi-spectral imaging that can see your vascular systems below the skin, making that next needle prick less painful.
  • Pixie Scientific introduced Smart Diapers that have integrated sensors to monitor your child's health. First version can reveal in your baby signs of urinary tract infections, prolonged dehydration, and early signs of any kidney problems.
  • Wearable Experiments created the NAVIGATE jacket which helps the user find her destination using integrated LED lighting and haptic feedback.
  • ShotTracker.com claims the first affordable wearable technology for basketball players that want to improve their shooting by automatically tracking attempts, makes, and misses. Solution includes wrist and hoop sensors linked to an online app.

In their latest Hype Cycle for Emerging Technologies, Gartner places "Wearable User Interfaces" at the peak of inflated expectations. (1) Latest projections have this market growing from $1.4 Billion in 2013 to $19 Billion in 2018. As signs of solutions acceptance: (2)

  • 82% of users believe wearable technology has enhanced their lives.
  • One Billion Nike FuelBand points are earned by users each day.

Fully believe that the future of technology will include an expanded set of sensors in both business and personal environments. In retail, for example, wearable technology has major future implications in enhancing the customer experience, strengthening brand value, and reducing shrink.

Provided the appropriate balance can be reached between privacy and customer value, wearable technologies have the potential to spawn new business models, increase productivity, and enhance our overall lives.

(1) http://ow.ly/r7Ywf (2) http://ow.ly/r7YHp Image from http://ow.ly/r84XN

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