Despite the media attention that wearable technology gets, it is still rare to see people walking down the street talking into their smartwatches or wearing Google (News - Alert) Glass or the like. However, recent sales reports are showing that the rise of wearable devices is starting to grow much more rapidly, and that the new largest market for wearable devices appears to be Millennials.
Millennials are among the first generations to reach adulthood that have been exposed to the Internet for the majority of their lives. As such, they are very used to taking advantage of it for social media purposes just as much as business.
Wearable devices take the concept of a smartphone and bring the same compact yet powerful technology to make computing devices that can simply be worn. Wearable devices include much more than the standard smartwatch or other complete computing platform, as several other wearable products are designed with only one task in mind, such as fitness trackers or even high-tech clothing fibers that double as battery storage or even Wi-Fi hotspots.
According to a PwC Consumer Intelligence Report, wearable devices are on the market but have so far under-delivered on most sales expectations. Around one third of survey respondents claimed that they had stopped using their wearables after just one year, but more than half of millennials claim they are excited for the future of wearable technology. Video games, social media and other entertainment-focused wearables showed the most promise for the future of wearable devices, while advertisers are already eying wearables as yet another publishing platform.
Ultimately, Millennials are now reaching the age where they can be extremely effective on both consumer and business-level markets, and their understandings for how wearable tech can drastically improve healthcare and retail strategies in addition to entertainment options are expected to quickly translate into sales.
Edited by Maurice Nagle
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