Technology is booming at a tremendous pace. Possibly more than what we have ever imagined. In this rapidly changing environment, all of us (enthusiasts and passive observers) have adapted to the technology boom. We all have been leveraging technology in some way or the other and today it is an indispensable part of our life. Try to roll back your memories 10 years back, smartphone was a buzzword and none of us really cared as it might not have added any value to our daily work, e-commerce in India was a fancy concept (few players were trying to experiment), big data was like greek and latin, Virtual reality was fancy, social networking was niche, micro blogging was only for celebs and geeks and so on.
Today, things have dramatically changed in all means. Tons and tons of startups have built amazing products that have changed our lifestyle. A plethora of mobile platform applications have changed our daily chores, thought process, habits and even hobbies. A day without the smartphone is kind of difficult to manage, Whatsapp, facebook, emails, Maps, games, twitter, quora, mobile app banking, music are all basic amenities someone would require. People knowingly or unknowingly have indulged into technology and it is now addictive. A few things which could have been avoided as ‘unnecessary luxury’ is today’s basic need.
Perhaps the biggest revolutionary change in our life happened on the technology perspective happened with the launch of smartphones. iPhone started the legacy and many others made it possible for 1/6th of the world to avail it. Smartphones not only became a necessity, it also created a benchmark! Demands for everything to be smart was the next need :). We got used to the ease and comfort offered by these smart technology improvements and so we continued to demand more and more from it. Laziness was not highlighted anywhere – marketing was a well thought and executed plan. Things were well advertised with cozy adverts – e.g.”Designed for humans”, “Connect with friends and the world” etc.
Every player in the market tries to quench for smartness in technology by adding intelligence into every product, because you demanded it. First the smartphone, the smart TV, then smart refrigerators, smart washing machines, smart air conditioners and the list goes on.
Out of all the smart items, you get attached to a few of them. As time progresses you can’t live without it. First it was the smartphone -> and now the next it is going to be the smart watch. Yes, this might seem slightly uneasy to digest considering the plethora of smart things out there in the market but this one is really the next big thing. But why a smart watch? Why not any other product for now?
Lets try to understand this by digging a bit deeper.
Almost everyone uses a watch, we all use it for its purpose – “time”. For some it is very necessary for others it is ornamental but for all smartwatch will soon be a necessity. Honestly it does a couple of cool things (even though only the first generation of most brands has been launched) and in course great new features would be added which would make it a basic amenity for our live’s. A huge chunk of working professionals have sedentary jobs. Life is not so happening here, no exercise and almost no sleep makes life unhealthy. You start noticing tremendous changes to your body in your twenties which ideally your parents had experienced in their late forties. So now you are worried – stressed about your work life balance and lifestyle with no clue about how to get it fixed. And then comes the savior – “The Smart Watch”. Yes, advertised as the health assistant your smartwatch can do quite a lot of things for you to track your health in real time and also look at the actual time. Sounds convincing now? I guess yes. Smart Watch is trying to capture that segment of the market where health is a concern and top priority. And by all means it is in all good shape to achieve it. In a couple of months , most smartwatch makers will roll out newer generations of the product with tons of updates and features. First your colleagues would buy it, then you would buy it, then it becomes a fashion statement – everyone buys it. Soon it becomes the necessity.
In this whole process, try to think what extra things can be extracted from these trend changers and what value will that add? Here comes the baby “Internet of Things”. Yes, all these devices generate humongous amounts of data. Data that defines your behavior – what do you do , when do you do, where do you do, how long do you do and everything that you would have not though about. This data collectively helps other devices get smarter and generate more value for the product and the consumer. In a nutshell all stakeholders have their own share of benefit.
Internet of Things is still in the niche and would continue to remain for a while. The boosting factor it needs would come with wearable computing. And smart watch will ace the wearable computing segment. The industry has already seen shipments to catapult by 500% in wearable computing by 2020 almost a majority chunk of smartphone users will be having a SmartWatch.
Quite a few players have already launched their first generation products and are aiming to roll out newer ones soon. Apple will be a leader here,Moto and Samsung will also lead in the race and soon many others will get into this business. The SmartWatch segment is expected to boom and explode at a much faster pace than its predecessor ‘The SmartPhone”
Lets all wait and watch the growth of Smart watches which will bring radical changes to everyone’s lives.