Wearable tech is poised to become the next big thing and many big name players in the industry are already preparing themselves for the onslaught of wearable tech products flooding the market.
To date we have companies like Google, LG, Motorola, and Samsung entering the wearable tech market, and there are rumors that Apple could be an upcoming player as well, so with all that initiative taken by tech companies, how are consumers responding to it? Do they even know what wearable technology is?
Well according to a recent study by Nielsen, tech companies can rest assured knowing that the majority of the people (around 70%) they surveyed knew what wearable technology is all about. In fact the study found that one in six adults already owned a device that fell into the wearable technology category which consists of smartwatches, fitness bands, Google Glass, and so on.
A more interesting fact shows that 48% of those who do own the product are in the 18 to 34 year old age bracket and that 29% of them make over $100,000 a year and consider themselves to be early adopters. Could this mean that for the most part, people who do own wearable technology at the moment are considered to be more well-to-do than your average consumer?
That could be true because 72% of those surveyed said that they wish wearable technology were less expensive. While nearly half of those participating in the survey said that they would like to own a wearable tech in the near, there are other considerations such as fashion, where some wish that the technology would look less like watches or bands, while others preferred if it resembled jewelry.
Those are some interesting figures and definitely something that tech companies should take into consideration, but so far with the recent announcement of Google’s Android Wear and the Moto 360, things appear to be headed in the right direction.