Ericsson has recently launched a new website depicting how wearable technology and the Internet of things (IoT) are changing the world of business and consumers.
The content includes expert interviews which focused on discussions on the existing wearable devices and new concepts being developed by the industry.
Participants were based in Brazil, China, South Korea, the UK and USA. The results showed that half of those aged between 15 and 65 were using existing wearables.
In the late 2000s mobile phones and wristwatches advanced into today’s fitness bands and while the wearable market is still in its early growth stage consumers are focusing on six main categories:
THE DEMOGRAPHIC DIVIDE
Ericsson ConsumerLab identified the ages of new and experienced wearable users between the ages of 25 and 34 in the USA.
Smart watches and fitness trackers have an influence based on the age group and gender as a target market.
According to a ConsumerLab report on genders, 63% of smart watch owners are male, whilst females are more likely to own fitness or activity trackers.
As wearable technology adoption increases so does the expectations of consumers have in the abilities of their wearable devices.
The analysis suggests that even new owners are disappointed with the current generation of wearables.
A quarter of new users of wearables indicate that wearables today fail to meet their expectations
The negative feedback has not yet resulted in manufacturers improving the functionality of the first generation of wearable though feedback creates opportunities for wearable makers to add features to devices and improve customer satisfaction.
CONSUMER PATH TO WEARABLES
We asked smartphone users across all 5 markets to assess over 20 wearables ideas and concepts
Manufacturers recognize they must overcome problems highlighted by consumers. Products that already exist in the wearable market can lead to the development of new designs inspired by current devices within three main categories.
SMART CLOTHING BEYOND FITNESS
Smart clothing is providing helpful information such as fitness metrics and detailed analysis of workouts other consumers see smart clothing playing a role beyond fitness tracking.
40% of smartphone users surveyed are interested in wearables combined with clothing using built-in sensor which measure all activities of the body.
Smart accessories are also popular with consumers in the USA; the thermal bracelet became popular as it provides temperature control for the user by sending hot and cold pulses through the skin providing thermal comfort.
WEARING THE RISK OF A DATA BREACH
Users of wearables are more likely to share personal data with wearables manufacturers
Data sharing is a key issue for users of wearables as their motivation is influenced to help them achieve their target fitness goals.
Ericsson Lab studies have shown that these third parties are less appealing to users especially if the information shared is personal and identifiable.
This exposure of data can be related to two factors: a consumer believes that insights and services provided by the manufacturers have a value especially when health and fitness is involved.
Wearable users are more familiar with online risks than owners of smartphones.
OUTSMARTING THE SMARTPHONE
Smartphone users say they are likely to wear more than 5 wearable devices beyond 2020
Smartphone users believe that wearables will have a larger impact on the smart tech market than smartphones did over the last 10 years.
Wearable tech could replace current equipment and items such as traditional wristwatches in public sector and in the medical industry blood and glucose monitors.
Smartphones are currently the most popular items on the smart tech market and many smart wearables come with a companion apps feature for an android. 38% wearable devices have the smartphone compatibility.
INTERNET OF WEARABLE THINGS
25 percent of smartwatches owners use their smartwatch to remotely control digital devices at home
As the IoT era comes closer with multiple devices being connected to the internet and other smart items through the cloud.
Wearables will change to be appropriate in an IoT environment this can lead to sensors becoming ingestible and wearables having better connection to physical objects.
With expectations increasing among wearable users, wireless networks and business models will require a cope with a future where consumer will wear multiple devices to connect them to the internet.
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