Bus 237 Group Presentation
The Emerging Trend in Wearable Technology
➢ What is “Wearable Technology”?➢ “Electronics that can be worn on the body, either as an
accessory or as part of material used in clothing.” (Investopedia.com)
➢ The concept of “Wearable Technologies” have only recently started to appear in the market and currently is a hot topic for both producers and consumers
➢ Current Products of Interest ➢ Smartwatch-mobile device with a touchscreen display➢ Google Glass- is a wearable, voice-controlled Android
device that resembles a pair of eyeglasses and displays information directly in the user's field of vision. Fitness
➢ Devices/Health Monitors- A band that keeps track of calories burnt, or steps walked for instance. Heart rate monitor
➢Example of Current Features of Wearable tech➢Wearable technologies becoming popular for health,
business and everyday use➢Medtronic’s MiniMed 530G: A wearable artificial pancreas.➢Nike Fuel Band: Pedometer, Motivational reminders, social connectivity.➢Google Glass: Navigation, take pictures, send messages
➢ Is there really a trend in wearable tech?➢ To help illustrate this idea:
➢ It is estimated that global wearables market will grow at a compound annual rate of 35% over the next five years
➢ Forecasted wearable device market value for 2018 at approximately $12,642m
➢ Worldwide spending on wearable technology will reach $1.4 billion by 2016.
➢ Investors have spent over $500 Million on wearable technology startups since 2009
➢Some Critiques of Wearable tech➢Cost
➢Consumers feel the wearables are overpriced➢Relevance
➢Although wearables offer many functions, some feel they are not relevant enough or obsolete➢Many of the features for example in the Apple
watch can be done through current smart phones➢Appearance
➢Some believe wearables are ugly➢Google glass a popular target of this criticism
➢Case Study: Critiques of the Smart Watch Concept
➢ How can these issues be addressed?➢Currently, most of the available technologies are
highly priced and do not offer many innovative features. ➢Companies such as Apple or Google must convince
customers by having wearable technology provide something unique or convenient.
➢ Whats next?1) New laws and regulations
–Privacy Concerns
➢Whats next?➢ 2) Emerging Fashion in the Wearable Technology
industry–Fashion designer companies may collaborate to create trendy looking wearables
➢Whats next?➢ 3) Collaborations with smartphones, tablets, and other
non-wearable techs –Replacement?
➢ How this topic relates to BUS 237 ➢ Competitive advantage ➢ With a relatively new and emerging market, there is
room for creative innovation➢ Possibly creation of features not available without
these new devices➢ Under Porters four competitive strategies, companies
can take advantage of these new technologies and can differentiate themselves either industry or segment wide
➢How this topic relates to BUS 237 ➢Hardware and Software
➢Wearables requires both software and hardware➢New vertical and horizontal applications could be
developed on these new platforms➢Sustaining Technology
➢The combination of wearables and current technologies improves customer value➢New technologies currently not innovative enough
to be considered Disruptive
➢ Conclusion➢ Wearable technology is an emerging and growing
market➢ There are a number of critiques of wearable
technologies that companies still to need to address ➢ Whats next?
➢New laws and Regulations➢Fashion ➢Collaboration/ Replacement
Referenceshttp://www.businessinsider.com/the-wearable-computing-market-report-2014-10
http://www.itworldcanada.com/blog/four-technology-predictions-for-2015/100625
http://www.em.avnet.com/en-us/design/technical-articles/Pages/Articles/Wearable-Technology-Function-Meets-Fashion-.aspx
http://www.em.avnet.com/en-us/design/technical-articles/Pages/Articles/Wearable-Technology-Function-Meets-Fashion-.aspx