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Is Wearable Tech The Next Frontier For Technology?

Posted by: on Apr 23, 2015 | No Comments

Is Wearable Tech The Next Frontier For Technology? That’s the question on the mind of many geeks, tech experts and futurist. If you follow the TechGeniux blog on a consisted basis you can tell I’m a big geek for innovative and new technology. I believe technology should be fun, exciting and beneficial. I will not go into detail about our new OTON X artificial intelligent game console on this post but autonomous technology is the type of technology I see that will continue to grow and change how we evolve with technology. This post is about the new trend of upcoming wearable devices like watches, phones and mini-computers. Like most awesome tech startups we’re working on a wearable device to support OTON gaming and user task operations. I have seen quite a few new devices pop up over the last year or so with mix results. I have seen some wearable tech with promise and others not so promising. However, the issue isn’t necessary the creator idea that derailed these devices but more less funding, technology limits and public adoption of these new ground breaking devices. It cost a lot to develop, market and educate new users to try new tech. Trust me I can vouch for that 100%!

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We “TechGeniux” covered the Neptune Hub wearable device and the Quell health device on this site awhile back. One the big guys seen the wearable technology opportunity, a new market emerged and the major tech corporations like Apple, Samsung and LG to name a few made moves to push forward with these new revolutionary devices. But is the general public ready to experience these new innovative devices. I think wearable tech will undeniably change markets like health, security and entertainment in a few years but at this stage the trick is to get that mom or dad who doesn’t read TechGeniux to buy one of these devices. Mom has to see value and understand why she needs these wearable devices in her life. That’s the challenge for this new market.

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Neptune Hub

I think the Kickstarter Pebble watch got the ball rolling in regards to people realizing these devices were cool and very doable to develop. Upon launch The Pebble watch smashed the Kickstarter record book and successful took in $10 million in 2012 from early adopter backers. The Pebble device really told the experts that this wearable market is doable and was ready for the long haul. I’m sure there were a few early devices that predated the Pebble but failed to gain any traction with tech savvy experts or tech enthusiast. I think once the mainstream public finally start asking about the Neptune Hub and purchasing these devices in record sale numbers then at that point the market will be ready to evolve to the next level.

“Canalys Report: Though currently a relatively small market serving fitness enthusiasts, wearable bands represent a massive opportunity in the medical and wellness segment. 2014 will be the year that wearables become a key consumer technology, as the smart band segment is estimated to reach 8 million annual shipments. Canalys estimates that this number will grow to over 23 million units by 2015, and over 45 million by 2017″.

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Based on a Canalys report 1.6 million smart bands shipped in 2013 with a projection of over 17 million wearable bands projected to ship in 2014. I know this data is a bit old but by gauging these numbers we can see the growth of the wearable market and devices. Now look at the projections forecast for 2015 and 2017 in the above report. These numbers may not move a needle to some people but to me, I see a continued growth pattern that will only grow bigger as new tech is released with better software and hardware to support the innovation. This is truly a new era in tech with automation, smart systems and wearable technology improving day by day. New ideas are the driving force that will either make our lives better or worse. With every new idea or technology there will be roadblocks such as security issues and privacy concerns. However, with these same ideas there will be new ways to save time, save money and better manage certain daily task in our lives. Feel relieved that the TechGeniux staff is ready and willing to be among the many geeks to welcome this new era! Hail Hydra…no I mean Yes, wearable tech!

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