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