With the recent acquisition of Fitbit by Google (for $2.1 billion!), in order to break into the highly lucrative “wearables” market, I thought it might be interesting to explore this topic a bit here.
However, since we’re talking about Google attempting to compete directly with Apple, Xiaomi, Garmin, Huawei, and Samsung, this is a tough nut to crack.
- Connected wearables worldwide (2019): 722 million
- Wristband wearables (2020): 67.7 million
- Marketshare of wearables (Q3, 2020): Apple 33.1%, Xiaomi 13.6%, Fitbit 2%, Hauwei 11%, Samsung 9% (Other, such as Garmin 28.2%)
- Apple and Samsung hold the highest percentage of most recognizable smartwatches (2020): 47.9% and 13% respectively
Wearables, from fitness trackers (like the Fitbit Charge 4) to smartwatches, are no longer the stuff of science‐fiction. They have evolved even quicker than smartphones. Up until 2006 when the LG Prada first appeared on the market (followed by the iPhone in 2007) there was virtually nothing like modern wearables available. Though it took a confluence of technologies from touchscreens, 3G/4G/LTE cellular service, and Bluetooth to name a scant few to make wearables a reality, they quickly evolved into what we are seeing today.
And these are not only connected extensions of our smartphones on our wrists or other parts of the body (e.g. Google Glass for Enterprise AR), but also as stand alone devices that house whole operating systems, UIs, and bio‐feedback sensors on their own. The Apple Watch is obviously the go‐to example but more and more diverse devices are beginning to flood the market. Devices such as: implantables (from biosensors, super small pacemakers, to birth‐control), smart jewelry (to discreetly take calls and texts, or track menstrual cycles), smart clothing (with sensors that monitor everything from footfalls for runners to providing haptic feedback for yoga poses), and head‐mounted displays (like the aforementioned Google Glass, Facebook’s Oculus Rift & Quest VR headsets, and Microsoft’s Hololens 2 for Industrial AR) are all online–or on our bodies.
All of these types of products and more are changing our lives once again; as well as bringing amazing new business, health, and social opportunities.
Now when the day comes that they make an URM Beserker Body, then that will be the ultimate wearable!
*Note: This links to an industry report for purchase.