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Americans Not Sold on Wearable Tech

Americans Not Sold on Wearable Tech
By Seth Fitzgerald

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The expected market value for wearable tech is definitely a good sign and shows that companies are thinking far ahead of consumers as to what will end up becoming popular. However, as of 2013, the revenue for wearable tech has only reached $1.4 billion and is therefore one of the smallest sectors of the tech market.
 


Almost every major technology company in America is coming out with some sort of wearable technology device, but a new study suggests that the public is still "mixed" on wearable tech. This survey comes after numerous other reports suggesting that at least until prices come down, wearable tech will not take off in America.

Google Glass and various smart watches have already been released but very few people have purchased them. Despite the lack of interest, more companies are attempting to enter the market, with the assumption that it will pay off in the long run.

Little Interest

An interactive poll from Harris recorded the opinions of 2,500 American adults. Based upon the answers from people who responded, 53 percent had no interest at all in wearable tech. The percentage of people interested in these types of devices did go up for people with household incomes over $100,000.

When looking specifically at devices such as Google Glass, only 20 percent of respondents had any interest. Even with varying degrees of interest, very few people would even consider investing in eyewear or watches.

Gender and age did play a fairly significant role in the amount of interest expressed by respondents. Around 15 percent more men had at least some interest in Google Glass or another glasses-based device.

A Growing Market

Even with an astounding 49 percent of people feeling that wearable tech is just a fad, most companies are trying to come out with wearable devices. But even as consumers feel wearable tech is a fad, the same things were said about the Internet, and that turned out to be the farthest thing from a fad.

Wearable tech has been able to take hold in America in the form of fitness tracking devices. However, alternative forms of devices for non-fitness uses are becoming just as prevalent. The market is expected to reach 64 million units by 2017, growing to $19 billion by 2018.

The expected market value for wearable tech is definitely a good sign and shows that companies are thinking far ahead of consumers as to what will end up becoming popular. As of 2013, the revenue for wearable tech has only reached $1.4 billion and is therefore one of the smallest sectors of the tech market.

According to Juniper Research, the revenue will come as a result of high price points. However, other studies have shown that wearable tech will only become commonplace when prices come down.

Less than enthusiastic reviews of Samsung's Galaxy Gear smart watch definitely set back the market, showing the public that wearable tech has a long way to go before it becomes mainstream. Americans are definitely skeptical of wearable devices and most people do not see how they could be beneficial in their lives. As with most tech sectors, it will take a while for companies to convince the public why they need wearable devices.
 

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Jay:

Posted: 2013-11-08 @ 5:25am PT
From the number of people I see walking around with bluetooth ear pieces, iPhone/Android devices constantly being toyed with, and all other manner of tech on display...I think the title is a wee-bit misleading. Perhaps, as the article suggests, the willingness to strap on a pair of clunky "computer glasses" is really the issue. Sure most of this stuff starts out as a fad, but many times they are adapted and become everyday mundane pieces of our life.



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