Welcome!

IoT Expo Authors: Roger Strukhoff, Pat Romanski, Liz McMillan, Kevin Benedict, Elizabeth White

Blog Feed Post

Technology alone will not drive the success of wearable devices says Beecham Research

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.

Saverio Romeo
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 Duke-Woolley
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

Issued by: Peter Rennison and Allie Andrews
PRPR, Tel + 44 (0)1442 245030
[email protected] / [email protected]

Source: RealWire

Read the original blog entry...

More Stories By RealWire News Distribution

RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.

Latest Stories from IoT Journal
Larry Ellison turned 70 and has decided to turn over the CEO reins at Oracle. Safra Catz and Mark Hurd, both in their 50s, will function as a “Ms. Inside and Mr. Outside” as co-CEOs, at least for awhile. Serious reverberations will be felt within this highly competitive company and the highly competitive industry in which it makes its money. Even while guiding his yacht to an America's Cup title, Larry Ellison remained in firm control of the company he founded in 1977. He still has an ownership stake of about 20% of the company--1 billion or so shares of Oracle stock worth about $40 billion. Who can imagine that he'll be a docile, passive Chairman? Yes, he is returning as Chairman, with Jeff Henley, currently in that role, moving aside to be Vice-Chairman. Ellison reports he will also serve as Chief Technology Officer. So it's clear he's not fading from the scene. But he will not be able to micromanage the company by any measure. What Does It Mean? Think of all of the very strong executives over the years who rose quickly and highly in Oracle, only to be banished from the kingdom and/or to start their own big companies. Ray Lane, Marc Benioff, and Tom Siebel spring i...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, will describe how to revolutionize your architecture and create an integrated, interoperable, reliable system of thousands of devices. Using real-world examples, James will discuss the transformative process taken by companies in moving from a two-tier to a three-tier topology for IoT implementations.
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the “Internet of Things” (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, will discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of data, and how to best approach deploying an IoT solution that will drive results.
I write and study often on the subject of digital transformation - the digital transformation of industries, markets, products, business models, etc. In brief, digital transformation is about the impact that collected and analyzed data can have when used to enhance business processes and workflows. If Amazon knows your preferences for particular books and films based upon captured data, then they can apply analytics to predict related books and films that you may like. This improves sales. This is a simple example, but let me tell you what I learned yesterday in sunny and warm San Francisco about more complex applications.
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things’ get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What’s driving this increase? The growth in volume is largely attributed to the rollout of new services and applications along with expanding migration to the cloud and traffic spikes. The Internet of Things will also place a strain on DNS services. Are you ready for this surge of new services and applications along with potential DNS threats?
Building low cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, will provide an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He will also provide examples such as building a wearable device that provides transit or recreational information. He will review the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power such wearable devices.
Where historically app development would require developers to manage device functionality, application environment and application logic, today new platforms are emerging that are IoT focused and arm developers with cloud based connectivity and communications, development, monitoring, management and analytics tools. In her session at Internet of @ThingsExpo, Seema Jethani, Director of Product Management at Basho Technologies, will explore how to rapidly prototype using IoT cloud platforms and choose the right platform to match application requirements, security and privacy needs, data management capabilities and development tools.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
We were in contact recently with Shrikant Pattathil (pictured below), Executive Vice President of Harbinger Systems. Here are some of his thoughts about healthcare, the IoT, and disruption: IoT Journal: Healthcare, with all of its systems and dataflows, seems an ideal area for IoT solutions. What is Harbinger Systems doing in this area? Shrikant Pattathil: Being a service provider we work with many product development companies who are building new IoT-based applications to solve problems that plague the healthcare industry. For example, there is a need for applications to manage your medicine dosage, seek help, and notify your care provider. IoT Journal: And how do you go about addressing these problems? Shrikant: We are approaching IoT from mobile and cloud perspective. These are our key strengths. We are helping product companies in IoT space to quickly build the mobile interfaces for their product offerings. We are also helping them to place the data on the cloud in a secure way, so that they can truly exploit the benefits of IoT. IoT Journal: What are the advantages of the IoT here? Cost? Better care? What sorts of metrics can be applied, and are there intangibles as ...
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness, and in-car entertainment and this excitement will bleed into other areas. On the commercial side, more manufacturers will embed sensors in their products and connect them to the Internet to monitor their performance and offer pro-active maintenance services. As a result, engineers who know how to incorporate software and networking into their mechanical designs will become more in demand.
Launched this June at the Javits Center in New York City with over 6,000 delegate attendance, the largest IoT event in the world, 2nd international Internet of @ThingsExpo will take place November 4-6, 2014, at the Santa Clara ConventionCenter in Santa Clara, California with estimated 7,000 plus attendance over three days. @ThingsExpo is co-located with 15th international Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading IoT industry players in the world. In 2014, more than 200 companies will be present at the @ThingsExpo show floor, including global players, and hottest new technology pioneers.
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With “smart” appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user’s habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can’t be addressed without the kinds of agile software development and infrastructure approaches pioneered by the DevOps movement.
As the Internet of Things gains momentum, the focus has been on securing billions of IoT devices and the servers that orchestrate their connectivity. However, the greatest security and authentication risks reside within the communications among devices and servers. In his session at Internet of @ThingsExpo, Todd Greene, Founder & CEO of PubNub, will discuss the top 10 challenges in securing IoT communications that, unsolved, render it impossible to deliver a secure IoT rollout. Learn the requirements for a ubiquitous, secure, bi-directional communication protocol for IoT. Specific design patterns to deliver secure device updates, as well as comprehensive solutions for malware defense and security credential management will also be shared.
The worldwide cellular network will be the backbone of the future IoT, and the telecom industry is clamoring to get on board as more than just a data pipe. In his session at Internet of @ThingsExpo, Evan McGee, CTO of Ring Plus, Inc., to discuss what service operators can offer that would benefit IoT entrepreneurs, inventors, and consumers. Evan McGee is the CTO of RingPlus, a leading innovative U.S. MVNO and wireless enabler. His focus is on combining web technologies with traditional telecom to create a new breed of unified communication that is easily accessible to the general consumer. With over a decade of experience in telecom and associated technologies, Evan is demonstrating the power of OSS to further human and machine-to-machine innovation.