Wearable technology is becoming a part of everyday life, with more people relying on devices such as smartwatches and fitness trackers to make more informed lifestyle decisions. The wearable technology market is steadily growing. In 2017, approximately 2.7 million wearable units were shipped to India.
According to a recent report by market research firm IDC, Xiaomi had a 41 percent share of the Indian market in the third quarter of 2018, followed by GOQii at 19 percent. Then in terms of market share, Titan, Samsung, and Fossil follow.
Titan hosted "Titan Design Day" as part of the festival "Bengaluru by Design" in November 2018. Several industry experts gathered to share their present and future ideas on design and innovation in this event. Titan and tech-first companies have addressed the common problem of user experience and consumer-first products.
The experts addressed that wearable technology is expected to be highly customized, data-driven, and analytical intensive. At least in the nearest future, one of the larger applications will continue to be in the healthcare and fitness sector.
The latest Apple watch edition introduced a feature of ECG. Fitness bands are already tracking the vitalities of the body. To enable payments, smartwatches and fitness bands can also be used. Smart watches can also be used as security devices. In these devices, cameras, microphones, and speakers can also be built.
Today’s wearables are defined by many features such as increased functionality, lighter and less voluminous hardware, seamless user experience, and improved connectivity. These are already on the market, but they must be further developed.
AI and machine learning become inevitable in analyzing and creating personalized experiences for consumers with numerous data collected from these ecosystems.
Connected devices and Artificial Intelligence technology are likely to increase life expectancy and improve quality of life. In this perspective, wearables play an important role as the simplest and most convenient tools for collecting health data, and monitoring and interacting with the users on the go.