The market for wearable technology is likely to grow significantly in 2016. Sales from 2015 suggest that the naysayers are wrong.
More and more fashionable wearables are coming out as the fashion retail market continues to innovate – for example Vinaya recently unveiled a necklace that pairs with phones and vibrates when it receives a message.
(Note: digital culture is changing the way retailers need to operate – Building the Digital Experience)
Camping and sports retailers are also looking to augment their offerings by dedicating more and more of their R&D budgets to materials. For example the Lumo shorts, developed by Lumo Biotechnology, allow runners to keep track of running metrics using only their garments.
It’s unlikely that fashionistas will produce the technology themselves; however, there is room for clothiers to create synergies between their items and tech everyone is already using – retailers are already experimenting with pockets that can charge smartphones and helmet docks for GoPros.
Meanwhile – established wearables retailers like Fitbit, Apple and Garmin are continuing to look at how to integrate their offerings with existing tech in more meaningful ways.
Ford has even announced it is considering integration with smart watches to monitor drivers’ sleep levels and push traffic notifications. They’re testing smart glasses that will function as augmented driving aides.
Our prediction is that the wearables market will continue to grow in 2016 as the range of functionality increases.