There’s no doubt that the Internet of Things has arrived. From Amazon’s Dash button to wearables to smart parking meters, examples of IoT device innovation are sprouting all around us. But we're still, essentially, in the dark ages with this technology. We’re just beginning to see that the real value in IoT isn't hardware-centric; it's the data that comes with it that's of most interest.
Wearable technology is about to evolve. The explosion of wearable devices was originally led by fitness bands. However, a combination of new vendors, new devices, and greater end-user awareness will now drive the worldwide wearables market higher in 2015.
Juniper Research has found that annual revenues from connected healthcare and fitness online services will approach $2 billion by 2019 -- that's nearly six times the $320 million value estimated for this year. The findings from Juniper's latest market study also reveal that connected healthcare devices -- and the data they generate -- will offer substantial benefits to the consumers of these new products.
If you have any smart watch users in your immediate vicinity, you will notice that currently a narrow demographic favors this distinctive wearable technology. That would be the top 25 percent wealthiest males, ages 25 to 34. Not surprising. This demo tends to be early adopters to technology. They have disposable income, usually, and why not spend it on the latest/coolest piece of technology?
This eve of the next wave of “fashionable wearables,” arguably led by the imminent release of Apple Watch, is a good time to start benchmarking the market by assessing leading themes in social media as they evolve in 2015. As the wearables “body part” competition heats up, one thing is certain—consumers want stylish devices. Enhanced functionality is expected by wearers, but fashion is foremost.
There’s little question that the future of sports training lies in smart technology. As the technology improves, prices will come down, allowing for even more people to use it to further their own athletic progress. Think of the current generation of fitness wearables, only more advanced, more streamlined, and with more capabilities.
This will allow them to mitigate data security challenges that accompany the rapid growth and individual adoption of these devices. If you aren’t aware of what devices employees are using, then there is no way to build the right policies around them, leaving your business wide-open to unprotected risks.