|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
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jul. 23, 2016 09:00 AM EDT Reads: 1,905
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
Jul. 23, 2016 08:15 AM EDT Reads: 1,423
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Jul. 23, 2016 08:00 AM EDT Reads: 1,215
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Jul. 23, 2016 08:00 AM EDT Reads: 1,381
Much of IT terminology is often misused and misapplied. Modernization and transformation are two such terms. They are often used interchangeably even though they mean different things and have very different connotations. Indeed, it is somewhat safe to assume that in IT any transformative effort is likely to also have a modernizing effect, and thus, we can see these as levels of improvement efforts. However, many businesses are being led to believe if they don’t transform now they risk becoming ...
Jul. 23, 2016 08:00 AM EDT Reads: 1,026
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Jul. 23, 2016 07:45 AM EDT Reads: 941
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Jul. 23, 2016 07:45 AM EDT Reads: 1,038
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Jul. 23, 2016 07:30 AM EDT Reads: 2,006
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 23, 2016 07:15 AM EDT Reads: 1,767
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jul. 23, 2016 07:15 AM EDT Reads: 1,830
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Jul. 23, 2016 06:45 AM EDT Reads: 564
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
Jul. 23, 2016 06:30 AM EDT Reads: 624
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...
Jul. 23, 2016 05:15 AM EDT Reads: 1,163
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Jul. 23, 2016 04:30 AM EDT Reads: 1,929
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jul. 23, 2016 04:00 AM EDT Reads: 2,336
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 23, 2016 02:45 AM EDT Reads: 2,058
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 23, 2016 01:15 AM EDT Reads: 1,022
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 23, 2016 01:00 AM EDT Reads: 1,160
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Jul. 23, 2016 12:45 AM EDT Reads: 723
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Jul. 22, 2016 11:15 PM EDT Reads: 981