Two things will continue to grow in the mobile world are mobile payments and mobile wearables. Most people will jump on the mobile pay option – many people haven’t carried a wallet in years, but they always have their smartphone with them. Pay for just about anything with you smartphone – convenient, fast and more secure. Wearables are taking a little longer to be accepted, because many people believe they are more a ‘fitness’ type device, not for the everyday person. Some were waiting for them to stop looking like a ‘clown’ watch – that wait is over. Emily Taylor, senior Analyst for consumer service and mobility at IDC, in a statement to MobileSyrup said, “Innovation is important to grow the wearables market in Canada to its fullest potential and to show the real value wearable devices can bring disruption and even risk will be part of this growth. It will be very exciting to see how the market evolves over the next five years.”
With the new crop of watches, we still have the plastic bands on some, but you can get a quality made smartwatch with a round face that looks as upscale as and you could buy in a jewelry store. They are getting more refined and offering more features, but it will be another year or so before they are really special and more than a fancy notification device you wear on your wrist.
International Data Corporation (IDC) Canada just finished up another study on wearable devices where they concentrated on basic wearables and smart wearables. They believe that the Canadians will be purchasing about 1.4 million units by the end of 2015. This is an increase from 2014 when 905,000 units were shipped and they predict it is only going to get better and their projected compound annual growth rate from 2015-2019 predicts a growth rate of 32%. Right now, the wearables are mostly smartwatches and basic wristbands, like Fitbit Flex exercise bands.
But, let’s not forget that the smart glasses, like Google Glass, are on their way and should have a huge impact on future sales as will connected clothing and “body/ambient awareness.” There are many products out there to wear while you are sleeping or during day to monitor your heart. As they become more refined and better marketed , sales in those products will rise, but smartwatches will still dominate the sales.