Posted by Angela Diaco
With IDC projecting 111.1 million shipments by the end of 2016, the wearables market is undoubtedly on a tear. From fitness trackers and smartwatches to smart glasses and garments, consumers have more options than ever before. However, new data suggests that existing wearable owners may be abandoning their devices because of limited functionality. So what will it take to grow even further to convert skeptics and keep existing wearable owners happy? We asked 1,000 consumers for their input.
To do that, we enlisted the help of independent research firm Research Now to examine the next hot market for wearables. Our goal was to understand the usefulness of and appetite for location-enhanced wearable devices. The study found that, while there’s still plenty of headroom in the health & fitness market with 81% of consumers citing purchasing interest, wearables’ next great market opportunity lies in devices that help track the whereabouts of family members and protect their safety.
But what do wearables manufacturers need to do to convert these interests into actual sales? According to the study, highlighting the value of location capabilities could be the key.