According to Statista, 2014 was hailed by many tech publications and experts as the “Year of the Wearable". The burning question, at this point, is whether or not the trend will continue to grow or whether it will begin to slowly fizzle out in the same way that many similar gimmicks have in the last few decades. Here's the astounding prediction: The global wearables market is expected to reach a value of 19 billion U.S. dollars in 2018.
Healthcare is the Step Up from Sports and Fitness
Currently, the most popular wearable technology is focused on fitness. Over the next few years, however, the focus will shift towards healthcare. According to information detailed in a report by Aditya Kaul, "Advanced sensor technology, miniaturization of hardware, and smart artificial intelligence algorithms will help bring wearables into the forefront of the fight against chronic conditions like diabetes, heart disease, and cancer. Expect to have your smart watch warn you about a stroke or heart attack, days in advance, which is when wearables will start to be taken much more seriously."
This is great news for businesses in the health sector, who wish to get the edge on their competitors.
SleepTech is About to Take Off
While not necessarily a "wearable" item, the Nuyu Sleep System only works when a user is lying directly on top of it. So, in a similar manner to all other wearables, direct contact must be maintained in order for the device to work.
The premise behind the device is the fact that our bodies struggle to fall asleep due to the constant exposure to wireless technology. The Nuyu Sleep System retails at roughly $500, and claims to help people“fall asleep and stay asleep” by enabling users to “get back in touch with their body’s natural rhythm so they can sleep comfortably.”
Imagine the possibility of launching an interactive spa simulation where event goers are enticed by technology-driven relaxation.
For a while, it seemed as though smartglasses and similar devices were seriously lagging behind smartwatches. The advent of technology like Oculus Rift proves otherwise. We are rapidly approaching a time when consumers can completely immerse themselves in virtual reality and augmented reality experiences - something that event marketers are already beginning to use in their planning processes.