The wearable market is already worth $3 to $5 billion.
Every week, a new smartwatch receives funding on Kickstarter, a new connected fitness band emerges from a Fortune 100 tech manufacturer, and an Ivy League dropout in a garage in Southern California takes aim at Google Glass.
The wearable market is already worth $3 to $5 billion today. In the next two to three years it is expected to be a $30 to $50 billion market. With so much competition in the market, the most daunting challenge wearable manufacturers will face is differentiating their devices. The winners in the market will make products that users can’t live without, like today’s smartphones.
Better user experiences start with the basics like increasing battery life, adding location data and reduced form factor. Complete user experiences go a step further, adding rich layers of contextual information to fit more precisely into users’ lifestyles. The Year of Wearables may as well be called the Year of Natural Selection.
Via Venture Beat