Why Are Wearables Trending?
Why Are Wearables Trending?
and why I'm bullish on their future
Happy Friday!
I was excited to see an exceedingly positive response to the return of this publication — great feedback and hundreds of new subscribers!
As I continue to iterate over the publication, I decided to open up some slots for contributing writers who want to share insights and analysis of the industry with top executives in sports.
If you want to write for Sports, Tech, Biz or have any feedback, ideas, or suggestions for future editions, send me an email or drop me a message on Twitter @Ronenain!
Why Are Wearables Trending?
Commercial wearables and wellness-tracking devices continue reaching new heights as competition intensifies and companies seek opportunities to capitalize on health, wellness, and performance optimization.
Technology company Whoop recently announced it's dropping subscription prices by nearly 20%, launching new features such as a stress monitor and adding weightlifting and user recovery data.
Bloomberg reported that Apple is making significant progress in developing non-invasive blood glucose tracking sensors to add to its upcoming Apple Watch versions.
In February, Fitbit filed a patent for a new blood pressure technology to keep up with its competitors.
Improved functionalities, more affordable alternatives, and continued R&D investment suggest companies in the wearables market are pushing the pedal to the metal to accelerate growth.
Additional developments in the market validate a growing demand, suggest these are becoming sustainable business models, and indicate that margins are still adjustable (to some extent).
Past performance and future estimates also solidify the thesis:
Estimates suggest the global wearable technology market will grow at a CAGR of 13.89% over the next seven years.
The wearables segment accounts for about 11% of Apple’s sales (up from ~4% in 2015).
The Takeaway
Competition is great for everyone — new tech allows companies to better understand our mental and physical health and provide more accurate insights and solutions while reducing prices and increasing the available market.
Soon, wearables will potentially provide life-changing insight and information with a high impact on our well-being — e.g., illness prediction, disease prevention, and stress optimization.
Whether to measure sleep, workouts, strain, or recovery — current devices offer various functionalities, but companies are now aiming at maximizing their full potential through technology.