With summer, thoughts turn to vacations, outdoor activities, and…perhaps, wearable electronics. If crowdsourcing platform Kickstarter is any indicator, a lot of people are trying to figure out the next big win in the wearables space, hoping to rival the popularity of the Apple Watch, Fitbit, or Oculus virtual reality glasses.
It’s a market that is both large and growing. The worldwide market for wearable electronic devices was around $22.0 billion in 2016, according to a May 2017 report by Research and Markets. “Key contributing factors for the growth of this market include increasing consumer preference for sophisticated devices, growing demand for IoT and connected devices, easy communication convenience, and significant growth prospects on next-generation displays in wearable devices through innovations,” the report noted.
That figure is expected to reach $97.8 billion by 2023, which represents a compound annual growth rate (CAGR) of more than between 2017 to 2023. Wearable devices will continue to do more, and collect more data. “The potential for data collection with wearable technology and providing insight into user interaction, ever-growing number of apps, sleek designs in the areas of aesthetics, and rapid health monitoring with the help of these devices will further drive market growth,” Research and Markets said.
EBN decided to look at some of the most popular wearable product ideas launched on Kickstarter in the past six months or so. Some still have a few weeks to go, and others have recently ended. All have surpassed their stated funding goals.
Taking a quick survey of wearable product ideas showed several clear trends. Although many of the ideas originated in the technology hotspot of Northern California, winning ideas are coming from all over the world including the UK, the EU, China, and even Croatia. Watches and earphones continue to be popular offerings, but innovators are also building glasses, wallets, ahoes, clothing, and even electronic makeup. Inventors are stretching themselves to offer devices that help people improve posture, increase sleep quality, measure hydration and other health measures and more. Several devices are aimed at helping users extend the capabilities and usability of a device they already own. For example, a charger that promises to extend Apple Watch battery life or a buckle add on that turns any wristwatch into a fitness tracker.
Click on the image below to start a slideshow of the hottest wearable products on Kickstarter right now. Take a look and let us know which are your favorites in the comments section below.
— Hailey Lynne McKeefry, Editor in Chief, EBN