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The time for you to enter the wearable market is now

Technology

Joshua Davidson wrote this article

2 Comments

These past few months have blown my mind when learning how many serial entrepreneurs and successful innovators that I personally know aren’t considering building their products (or new solutions altogether) for wearables. This isn’t a propaganda post; this is a fact.

The market is on the rise, with more wearable devices now being sold daily than all of last year. Apple is pouring millions into the marketing of the Apple Watch (just watch one baseball game this postseason and you’ll see what I mean). Android Wear is continuing to get more and more focus by Google. Pebble is still kicking butt. Yet time and time again, the heavy hitters, the influential, aren’t even considering the wearable market. Feel free to quote me using this article towards the end of 2016 when I say that this is a mistake that will cost potential entrepreneurs and serious entrepreneurs hundreds of thousands, if not millions of dollars by the beginning of 2017. This is a market that is slightly tapped, but nowhere near mature yet. This is a market, begging for the innovators to tackle it head first.

The time to start focusing on building for wearables is now. Not tomorrow, not in late 2016, and especially not in 2017. This is the time when the early-adopters are using these devices religiously, trying to find the killer applications that separate themselves from the pack and most importantly, when the market is not saturated. This is the time to strike. This is the time for someone, multiple businesses or a great team to determine the solution that only truly works on wearables, and make it so. The riches are there, the rewards are there, it is all available for the taking, and we know how this goes (look at the beginning of the internet, the beginning of mobile operating systems, the beginning of desktop operating systems – history always repeats itself). Wearables are the next great frontier and no one has truly taken advantage of them yet.

If you haven’t already, buy one of these devices for either eco-system (or both) and start experimenting. Figure out the type of native experience that feels most natural to you and from there, look around the world with your own two eyes and see if any problems could be better solved by simply using your wrist. I’ve already realized just how much more productive I am now that notifications hit my wrist with a quick glance, vs. opening my phone, viewing an app, reading the full details. I’ve already begun experiencing how amazing it is to quickly glance the weather, open my front door using my wrist and pay using Apple Pay without having to do anything. This is scratching the surface for the potential of wearables. What about fitness tracking? How about productivity tools? How about using this to provide a better, more personal service? Think of all the problems out there or areas that are lacking that a wearable device can easily change. Now think about how in five years from now, when people realize this, how much quantity will be out there, and how the same idea of looking through 98% of the apps on the app store in dismay, we will be experiencing the same with wearables. It is going to happen. It is a matter of when, not if.

The individuals, the people, the entrepreneurs, the businesses who decide to go all-in with wearables now and create quality solutions (not crap) that are built for the wearable world, they will be your next Ubers, Facebooks, Twitters and Instagrams for the wearable world. Start planning now and figure out how this new form factor that never in history have we had the chance to build for can disrupt lives for the better. The startups that realize these platforms can help us save more time, more money, make us more productive and/or provide value in any manner – they will beat the outdated methods from traditional (and again, saturated) marketplaces.

Wearables are only getting bigger. Before it is cold and everyone is indoors for the winter, spend a weekend walking around a major city or location with a lot of people. Look at people’s wrists. You will be surprised at just how many individuals are already buying into the wearable eco-system. This isn’t just technical entrepreneurs. Walking through Rittenhouse Square in Philadelphia last weekend for a farmers’ market, I saw a woman who had to have been older than my own grandmother, wearing a Milanese loop stainless steel Apple Watch. The future is here folks, and the market is growing. It is growing quicker than any of us can digest.

Get in there now and start thinking of solutions for tomorrow today, before the market becomes saturated, all the riches are exploited, and you are looking back, reading this article thinking ‘what if?’

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There are over 2 comments. on this article. Join in on the discussion!
  • Dale Buckey said:

    Joshua,

    You are right on the mark and ahead of the curve with your post on Wearables

    With the Pay.band, we are focusing on one aspect and that is making the user experience at the checkout line fast, easy and secure.

    The Pay.band isn’t geared to read your pulse or take your temperature. There are plenty of expensive fitness bands and fruit watches that promise to make you and your wrist healthy. We are simply producing an inexpensive way to confidently pay for your daily purchases without the need of a smartphone, wallet or purse, and only a tap of your wrist.

    Looking Forward,

    Dale Buckey

    Chief Innovation Officer @ Tap & Pay
    Dale.Buckey@TapNPay.me
    1+401 225-8840

    Business Developer @ PAY.band
    Twitter.com/Pay_Band

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