L2 released an animated video along with the first Intelligence Report: Wearables this week. A few highlights:
– Wearables are part of an evolution. Manmade jewelry dates back to 82,000 BC and eyeglasses and pocket watches were made centuries ago. Humans have been wearing personal computing devices for 60 years, starting with the HP calculator watch in 1977.
– The proliferation of low-powered chips, inexpensive sensors and network access has paved the foundation for the next wave of Wearables, with fitness trackers in the lead.
– From Kickstarter devices to large corporations, all wearable tech devices face the same hurdle. When Google Glass shipped last year, 59% of smartphone owners said they would not wear the device and 54% said they would not interact with the device. A recent survey says 75% of U.S. consumers are aware of Wearables, but only 10% have a desire to wear them.
– Silicon Valley has turned to Madison Avenue to turn Wearables into accessories that signify style, affluence and desirability. Intel has partnered with Opening Ceremony, Fitbit with Tory Burch, and Apple with Nike. The outcome of these partnerships will determine whether Wearables are here to stay.
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