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Resources

The market for smart wearables

The consumer electronics industry has convinced itself that wearable technology will be the next big thing, with analysts predicting a market worth over $30 billion by 2020. That belief is driven by a desperate need for major companies to find something to follow on from laptops, tablets and PCs all of which are being commoditised. The problem is that their model for wearable technology is built around technology push, trying to shape their technology to fit consumers. It is a strategy that is likely to fail, as wearable technology is more, rather than less, personal. This presentation takes the contrary viewpoint, investigating the market opportunity from known consumer behaviour and preferences. It still suggests it will be close to $20 billion in 2020, but with a different mix of products and service models.

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