Wearable technologies — like Google Glass and the flurry of smart watches that have been released by tech companies — have become a point of contention among industry professionals and market analysts. The main question: are wearable technologies just a passing fad or are they the next big step in modern devices?
Despite slow-moving consumers, a report by GlobalWebIndex painted a very favorable picture for wearable technologies, claiming that 64 percent of Internet users have used or are interested in using wearable technology in the future. Moreover, greater numbers of younger respondents reported interest in wearable technology. According to the source, 71 percent of individuals age 16 to 24 expressed interest in the technology.
The company noted that individuals reported equal levels of interest despite levels of income as well. While 63 percent of individuals at the lower income quartile claimed interest in wearable technologies, 71 percent of individuals at the highest quartile expressed interest, shifting by just 8 percent.
While wearable tech may spark interest in consumers seeking to use the devices during leisure time, SalesForce reported that wearable technology may serve more tangible benefits in the workplace. The source claimed that studies show boosts in productivity by as much as 8.5 percent in employees equipped with wearable technology. The same study reportedly showed 3.5 percent higher employee satisfaction in workers with wearable technology.
One example mentioned by Salesforce explained that field workers using wearable cameras managed to solve issues faster, thus saving their companies millions of dollars. Meanwhile, MobiHealthNews reported that Pristine, the creator of a Google Glass video-streaming device used in healthcare, has recently raised $5.5 million to continue development and distribution of their product.
Whether it's in business or leisure, SalesForce projected that the wearable technology market would be worth $8.36 billion by the year 2018.