The biggest trend from recently concluded CES-2014 is that the wearable device market is exploding. There are new entrants from everywhere and their rate of arrival is perhaps greater than the growth of the market itself.
I wanted to get my head around who’s who in the market and get a single page snapshot to keep track of majority of players in this area. The below picture is an attempt to capture existing and upcoming players.
The wearable market is broadly divided into fitness, sports and health and there is a big concentration of players in fitness and sports sectors. Some brands are differentiating with advanced offering for professional athletes while few can be placed in me-too category. In the snapshot above, activity tracking includes statistics like calories burnt, steps taken, floors climbed, distance traveled, hours slept etc.
The second way of differentiation is based on how you wear devices – wrist, headband, ear-bud, carry, glasses, clothing etc with wrist devices in majority.The third way of differentiation is based on the social context in which the product is used – individual, family, kids, social, gamification etc. Maybe I should try to create an equivalent snapshot using these two ways of differentiation.
Well, the market is quickly moving towards commoditization, the real differentiation will be in terms of services and continuous usage of the product.
Till then, just go with price and looks and maybe good battery life!