Current products in the market for so-called “wearable technologies” are too narrowly focused to address a larger opportunity, according to a new paper from Beecham Research and Wearable Technologies Group.
“The wearable technologies market is reaching an exciting stage of development and potential, yet we feel that there is more work to be done to bring together viable value chain partners,” said Robin Duke-Woolley, chief executive of Beecham Research.
Wearable technologies combine fashion with technology, allowing consumers to use an item of clothing for tasks they might normally perform on a laptop or smartphone.
Perhaps the most high-profile example is Google’s (Mountain View, CA, USA) Project Glass – an effort by the web giant to develop augmented reality glasses that will allow wearers to take pictures, send and receive emails and view web pages.
One issue for developers is ensuring the technology does not make the product look unstylish.
“We envision a connected world, where everything in people’s lives will have computing power, wireless connectivity and many unobtrusive sensors,” said Harry Strasser, a managing partner at Wearable Technologies Group and a former chief technology officer of Siemens (Munich, Germany).
“Wearable technologies will substantially enhance people’s lifestyles and work styles,” he said.
According to Christian Stammel, the chief executive of Wearable Technologies Group, the factors needed for wearable technologies to flourish are coming together now.
“Standardization and interoperability are the key factors and the reason why the market will grow tremendously this year,” he said.