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Why wearables matter to business

Why wearables matter to business 

But wearables do matter, and here is why.

The wearables market is currently the tech world’s fastest growing sector, and the technology might just be on the cusp of mass adoption–thanks to the release of products like the Apple Watch and the Oculus Rift.

What’s telling about all this is that it’s not just the consumer market that’s on board with wearables – the business community is jumping on board, too.

It would also appear that the Canadian tech industry is in on the race to develop wearables, as well.

“Canada has become a real driver in the wearables space with several other great companies like Toronto’s Interaxon and Montreal’s Om Signal, to name a few, coming out with very interesting products,” said Shawn Chance, VP of Marketing and Business Development at Nymi. “So much so that there has been a lot of US and foreign investment coming across the border which is a great testament to Canada’s wearables landscape.”

In fact, a recent survey by Salesforce Research found that 79 per cent of business adopters agree that wearables are or will be strategic to their company’s future success. Additionally, 76 per cent of adopters have also reported improvements of business performance since implementing their devices.

The report goes on to say that smart watches are expected by enterprises to be the top wearable in the business world, according to the survey. Lanyards and Smart-glasses were the other wearables expected to have high levels of adoption.

The real reason business is so excited about wearables is the analytical data they will provide on both customers and employees. Wearables are essentially tiny life trackers, and businesses that can best capitalize on that data stand to make some big money.

So, while the potential may be obvious for wearables, the innovation and development of products that people and businesses can actually use in everyday situations is yet to happen.

“There is some great tech out there right now but it’s still early days for wearables, with end-users only just beginning to discover the potential they represent,” said Chance. “Today’s early-adopter consumer may be okay wearing a band, a watch, a shirt and a headband – all while carrying a smartphone – but in the future, the most desirable features will blend into the most convenient form factors to create some incredibly useful devices.”

That means businesses need developers to do what they do best: create. But for that to happen there needs to be available capital.

Luckily, the Salesforce survey says that 86 per cent of wearable adopters expect to invest more into wearables in the next twelve months. So, in a way, the market is more relevant with every passing day.

So don’t worry, all you wearable enthusiasts. This is one high-tech trope that you can literally wear on your sleeve.

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