Three Ways Wearable Tech Will Help Tech Start-Ups
Much has been written about how wearable tech will change the way individuals interact with the world around them, but what about businesses – specifically, what about tech start-ups? How will the growth of the wearables industry affect them and what opportunities will it provide?
Readily Available Augmented Reality
At the moment a genuinely efficient augmented reality is a long way from being easily accessible and is considered a novelty rather than a useful tool. A user would need to take out their smartphone, open a relevant app, and they point the phone at any item which supports the augmentation. It’s cumbersome at best.
However, with the advent of devices such as Google Glass, various smart-watches, and other smart clothing, the world of augmented reality becomes a lot more feasible. It’s not hard to imagine going to start-up owners going to conferences, seminars and networking events and seeing a floating Linked-In button above fellow delegates’ heads, or when looking for rented office space being able to look at a building and instantly seeing which spaces are available and for what cost.
Ultimately, a genuine advent of augmented reality will mean an easier, simpler and more informed life for entrepreneurs around the world.
(Image Source: http://www.mbaprograms.org/infographics/startup-primer.html)
More Big Data Means More Opportunities
More wearable tech being used will mean vast amounts of new data – much of it obtained in real-time. Devices such as Google Glass, FitBit, or even clothes that can adapt themselves to the weather forecast will mean that lots of the data that is being collected will be unlike anything that has ever been available previously.
This new type of data – when combined with other data streams that will have been significantly multiplied – will provide a huge amount of new opportunities for the tech start-up community. One of the biggest challenges will be reconciling the diverse data sources into useful and usable information; any start-up that achieves this effectively will be able to deliver immense value to both customers and businesses.
Improve the Human Experience With More APIs
Experiences will become ever-increasingly unique thanks to new start-ups being able to use and take advantage of existing technologies. Specifically, the ‘smartphone wars’ between Apple, Samsung, and others, has meant that sensors and chips are now cheaper than ever. It means small companies and start-ups can incorporate sophisticated hardware into wearable devices – devices which can simply use bluetooth or other protocols to communicate with a smartphone (and thus the outside world) without worrying about providing a dependable mobile internet service.
This readily-available hardware, plus the ability of start-ups to crowdfund, allows new businesses to devise, manufacture and sell wearable tech that can compete with the traditional tech giants. We could, therefore, see a wave of new start-ups enter the market with the explicit goal of improving the human experience; wearable tech could become the apex of technology that can guide our happiness and improve our economies.
How do you think wearable tech will help start-ups? Let us know in the comments below.
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By Daniel Price
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