The future of wearable technology is promising but it still has a long way to go before appealing to the masses, according to market watchers. Wearable devices are the latest trend, which is clothing and accessories incorporating computer and advanced electronic technologies.
LG Economic Research Institute said in its latest report that “The reasons behind the slow growth of wearable devices are the lack of killer application, disappointing user experience and poor design.” Tech companies are obsessed with preoccupying the market, rather than taking account into more practical use.
An English-language weekly newspaper The Economist also reported in its March edition that “For smartwatches and other wearable devices to become mainstream products will take more than just time.”
Around 21 million units of wearable devices were sold last year, according to research firm IDC, but the newspaper said, “so far the category has remained a niche plaything for geeks and athletes.”
In recent years, almost all global tech companies – Apple, Samsung Electronics, Google and Microsoft - have jumped into the wearable devices market. However, despite the constant roll-out of new products and technologies, the market still has a lukewarm fan base. According to a survey of 10,000 adults in seven nations including the U.S., the U.K and Germany conducted by research firm AlphaWise last year, only 6 percent of the respondent said they owned wearable devices.
This reflects that despite the buzz generated in the market, the devices are being used only for a few early adopters and not the masses.
Kang Hyun-ji, researcher of the LG Economic Research Institute, said users simply don’t find it necessary to use the functions of smartphones and fitness on the market such as activity tracking or bio information sensing of heartbeat and body temperatures.
Inconvenience and disappointing user experience are other factors. Due to the small space, they could not overcome small battery issue with short lifespan. As for Apple Watch, users can use up to 18 hours once they charge their batteries.
Also, users don’t still regard them as fashion items. When you wear Google Glass - a type of wearable technology with an optical head-mounted display - it looks as if you are wearing heavy and ugly electronics gadgets rather than stylish fashion items.
Recently, tech firms are trying to deal with the design issues by diversifying its materials including 18K rose gold, yellow gold and stainless steel. It also hired former chiefs of a British luxury fashion brand Burberry and Paris fashion company Yves Saint Laurent.
Smartphone leader Apple’s ambitious product Apple Watch has not also been welcomed in the market. Media reported that the sales of Apple Watch have sharply dropped since the first roll-out, and it hasn’t increased until now.
Apple began to sell the wearable device last month in nine countries including Japan, Australia, China, Germany, the U.K., and the U.S. On the day of pre-order, it was sold out within six hours, but since then, the device has seen lukewarm sales, according to the U.S. market research firm Slice Intelligence.
Around 2.5 million units of Apple Watch were sold but more than half was pre-ordered on April 10 when the order began. From the following day, sales have seen continued decline and now around 30,000 units are selling on average.
Still, analysts say that global tech companies will continue to make forays into the wearable device market because they have no choice but find new income sources with the growth of the smartphone market slowing.
According to market research firm BI Intelligence, this year, around 33 million wearable devices will hit the market. The market will grow 35 percent on an annual average by 2019 to reach 148 million units.
