Though some predictions around growth in the wearable tech market have been sobering, many fail to factor in the potential for wearables beyond fitness trackers and smartwatches. Fashion is now teaming up with tech to create smart fabrics and accessories in truly wearable designs that don't sacrifice functionality.
You may pay for groceries with your smartphone and a connected credit card, via Apple Pay or Google Wallet. You may have seen some techy-type at your local drug store pay for his toothpaste and toilet paper with an Apple Watch. What you've probably not yet witnessed is someone making a secure payment with a tap of the wrist and biometric, heartbeat authentication. But if Canadian company Nymi has its way, you will.
Last week, at the Wearable World Congress in San Francisco, executives from Capital One, MasterCard and PayPal participated in an animated discussion about the future of mobile payments and explained why wearable technology is an important part of their companies' game plans.
Whenever Apple puts out a new product, it's going to draw headlines. There's no better example than the Apple Watch -- its first offering into the fitness market, which has a potential to be a 22 million unit market in the U.S., according to Market Strategies International.
Throughout the history of technology, few sectors have expanded and evolved as rapidly as today's burgeoning wearable tech market. Piles of unique and unusual, flashy and fancy -- often goofy and gimmicky -- new wearables are announced every week. There are smartwatches, smartglasses, intelligent socks and "onesies" for infants, rings for public transit payments and even "wearable tattoos."
This week, wearable technology vendors, evangelists, executives and experts of all ilk gathered in New York City's Hell's Kitchen neighborhood, at the Wearable Tech Expo, to convene and talk about today's hottest wearables.
A recent report from Cisco predicts that global mobile data traffic, which hit 1.5 exabytes per month in 2013, will be 10 times as high by the end of 2018. Smartphones will drive the bulk of this traffic growth, but the Internet of Things will also play a role.