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Trends in the Wearable and Consumer Tech Industry

With over 25 years of professional experience in the IT hardware industry, Rajendra Seksaria currently operates as the Chief Managing Director at BSPL – Foxin. He is a member of the Bengal Chamber of Commerce and is a local member of the Rotary Club, Kolkata. A firm believer towards contributing to society, Rajendra Seksaria has worked his efforts towards the welfare of his people and community.

 

The ongoing global pandemic has certainly disrupted the functioning of several industries, therefore brands are steering towards strategizing and ideating in accordance to the current situation. The tech industry has seen a substantial change this pandemic, catering to consumers being a lot more attentive towards their consumption. Having to work from home and stay indoors a lot more than compared to the first wave, consumers are seeking for products that cater to functionality and increased capabilities. Smartwatches, wireless headphones, smart glasses and smart clothing are few products that are gaining popularity in the market. The concept of functionality is imperative while developing products as consumers seek to gain personal value out of their consumption.

This pandemic has led to consumers embracing technology more than ever. In order to adapt to the new normal, manufacturers are producing an array of products that are sustainable and beneficial to our future society. Several products produced today are looking to ease one’s routine and more so benefit their health as the uncertainty of the situation has led consumers to factor in health as priority. We at Foxin had to ideate our functions that could benefit the present consumer demand. Introducing smart watches that would benefit consumers with respect to monitoring blood oxygen levels, blood pressure and heart rate were a few characteristics that were further developed. Apart from various health benefits, smart watches have become quite the necessity for those who work from home and working out of home as consumers are opting for a product that seek to have all in one. Picking up calls, answering to texts, checking emails while attending to other tasks around the house or on the go. Picking up your step count and water intake while working has also helped users to stay in track. The aspect of functionality such as long battery life and durable materials are a few elements one looks out for while making their purchase.

Technology has evolved at a rapid rate considering the constant change that is taking place. The new normal has led us to be a lot more conscious of our household, therefore constantly looking out for products that will keep our surrounding safe and clean. Home centric products are in great demand among consumers, for example automated cleaning robots equipped with AI has become a major trend in the market. A product that is constantly at work while you keep busy with your other important tasks. This is another great example for a product that caters to functionality and increased capabilities. Having to stay indoors a lot more has led to consumers purchasing products that aid to convenience such as Alexa. The pandemic has definitely seen a rise in intelligent voice assistants. These fully automated products have helped to make consumers life a lot more easier. From here on, AI will keep getting smarter and more capable of taking in commands.

Having to adopt to the present market trends can be quite a challenge for various manufacturers as the circumstances are such. The wearable industry has seen a massive change in how consumers perceive the market. Consumers are willing to invest a lot more than compared to the previous year’s therefore making it our responsibility to fulfil such demands. Smart glasses and hearables are getting quite the attraction in the market, all based off augmented reality and virtual reality. Facial recognition and health sensing are a few driving factors among consumers. Bluetooth devices such as earphones and speakers have received great response and demand this pandemic. Consumers are moving away from wires and heading towards products that are wireless as it caters to convenience and comfort. Noise cancellation is another added feature to earphones and headphones that have created an increased demand base in the market as several consumers today find it effective while working from home. A product that was once a “want” has transformed into “need” during this year of lockdowns therefore seeing a positive rise in adoption.

The wearable industry is one such industry that will be in constant demand post pandemic as consumers have a better scenario of their expectations and need, therefore giving manufactures like us a clear view of how to better our processes and strategies. The competition pertaining to the market has intensified over the years, with various brands coming in and setting base. From here on, our challenge as manufacturers is to create, sustain and innovate products of high value and quality.

 

Source : https://www.cxooutlook.com/trends-in-the-wearable-and-consumer-tech-industry/

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