|By RealWire News Distribution||
|July 10, 2014 06:32 AM EDT||
Wearable tech market could triple current forecasts with better collaboration between tech and fashion industries
10 July 2014: Too many technology-led companies see wearable devices as simply the next wave of smartphones or accessories and pay lip service to aesthetics and style, according to Saverio Romeo, principal analyst at Beecham Research and author of a new report on the future of the wearable technology market published today. The report highlights mistakes being made by many companies trying to grab a share of the much hyped wearable tech opportunity and provides a very different vision and set of predictions, compared with much of today's thinking.
"Current market forecasts are based on a smartphone-centric view of wearable technology," says Saverio Romeo. "We see wearable tech as playing a critical role in the drive to greater connectivity and the Internet of Things, where we will interact with intelligent spaces through wearable devices. But while these devices may have some smartphone functionality, they will be much more than smartphones."
Beecham believes that there is excessive excitement about technology and not enough attention to image, branding and consumer needs. "There is a real difference between making technology wearable versus making technology products that are desirable and genuinely engage with consumers through good design practice," said Claire Duke-Woolley, fashion technology analyst at Beecham and co-author of the report.
"Unless there is a holistic morphing of technology and aesthetics we will not harness the full potential of wearable tech innovation," says Duke Woolley. "It's time for the fashion industry to embrace technology and for tech companies to realise that they can't do it on their own and need the knowledge and influence of major fashion brands."
In its Wearable Technology report, Beecham Research forecasts that the market is currently on course to be worth some $3bn by 2018. But with a true multidisciplinary approach and greater collaboration, Beecham believes that the market can accelerate and has the potential to be worth $9.3bn by 2018.
The report points to recent developments at Apple and the partnership between Google and Luxottica as positive examples of how multidiscipline relationships can be forged. But it also recognises the challenges for smaller start-ups in the wearable tech space.
"Wearable technology start-ups are feeding the market with innovative ideas and creative uses of technologies, but they are not addressing other important issues, from security to business models," said Saverio Romeo. This has led Beecham Research to develop a product evaluation framework that analyses products from different angles such as technology, design, security and privacy, along with business and retailing models.
This multidisciplinary thinking also enables Beecham Research to argue that wearable products are going beyond smart watches and glasses and finding their way into a wider range of applications across eight key sectors: business operations, safety and security, medical, wellness, sport and fitness, lifestyle computing, communications and glamor.
While companies such as Samsung and others offering smart watches prefer a more technology-centric approach, Beecham Research points to the new Withings Activité that mergers Parisian design with Swiss watch making to create desirable, stylish and functional products. It also highlights the collaboration between Fitbit and Tory Birch as an example of how the fitness market is moving beyond the functionality of traditional products. Another sector where Beecham Research sees progress is in smart clothing and textiles, from the likes of Cute Circuit and Wearable Experiments, along with Studio XO, which exemplifies the right ethos and multidisciplinary approach, but is still to move beyond the couture end of the market.
"The wearable technology market is at an exciting tipping point, but moving on an almost pure technology-centric trajectory; and wearable devices are not just about technology," said Romeo. "We can't let wearable technology kill the fashion tech market before it's established," adds Duke-Woolley. "The market is still wide open for trail blazing products that deliver desire, image and perceived value; and it is greater knowledge share between the technology and fashion industries that is the key to success."
About Beecham Research
Beecham Research is a leading technology market research, analysis and consulting firm with offices in London, Cambridge UK, North America and mainland Europe. The company is the only global consulting and research firm focused solely on the worldwide and rapidly growing M2M, Internet of Things, Embedded Mobile and Wearable Technology markets.
Romeo joined Beecham Research in 2013 from Frost & Sullivan and previously worked for the European Commission. He has more than ten years analyst experience covering the evolution of the mobile industry, mobile healthcare, smart cities and smart energy, as well as a specific focus on data analytics, mobile software ecosystems and the Internet of Things. He is a Research Fellow at the Centre for Innovation Management Research at Birkbeck College, University of London and holds three post-graduate degrees in Telecommunications Engineering, Information Technologies and in Innovation Management and Technology Policy.
Claire trained in textiles at Chelsea College of Art & Design before going on to complete an MA in Womenswear Knitwear at the Royal College of Art and Design and has over 10 years' experience working within the textile and fashion industries. During this time she has worked with brands including Missoni, Kenzo, Liberty of London and Orla Kiely. Claire joined the team at Beecham Research in 2012 as Fashion Tech Analyst.
Visit www.beechamresearch.com for more information.
For a selection of images from Dropbox please go to: http://tinyurl.com/pjlcv8u
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 13, 2016 11:15 PM EST Reads: 433
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Feb. 13, 2016 11:15 PM EST Reads: 314
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Feb. 13, 2016 09:00 PM EST Reads: 257
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
Feb. 13, 2016 08:45 PM EST Reads: 400
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
Feb. 13, 2016 07:00 PM EST Reads: 418
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Feb. 13, 2016 04:45 PM EST Reads: 207
SYS-CON Events announced today that FalconStor Software® Inc., a 15-year innovator of software-defined storage solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. FalconStor Software®, Inc. (NASDAQ: FALC) is a leading software-defined storage company offering a converged, hardware-agnostic, software-defined storage and data services platform. Its flagship solution FreeStor®, utilizes a horizonta...
Feb. 13, 2016 02:30 PM EST
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 13, 2016 02:00 PM EST Reads: 259
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Feb. 13, 2016 01:30 PM EST Reads: 291
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
Feb. 13, 2016 01:30 PM EST Reads: 148
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 13, 2016 12:45 PM EST Reads: 476
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
Feb. 13, 2016 12:00 PM EST
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 13, 2016 12:00 PM EST Reads: 474
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 13, 2016 12:00 PM EST Reads: 454
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
Feb. 13, 2016 11:45 AM EST Reads: 316
When building large, cloud-based applications that operate at a high scale, it’s important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. “Fly two mistakes high” is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Lee...
Feb. 13, 2016 11:45 AM EST
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 13, 2016 11:45 AM EST Reads: 278
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Feb. 13, 2016 11:30 AM EST Reads: 159
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Feb. 13, 2016 11:00 AM EST
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
Feb. 13, 2016 11:00 AM EST Reads: 155