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10 of the Hottest Wearable Companies
May 27, 2015
11 Slides
1. AppleThe jury is still out on the Apple Watch—which marks a major gambit for the tech behemoth.The Apple Watch was supposed to be the Cupertino, CA–based company’s biggest launch in years, but sales have not been as explosive as predicted. Early this month, financial services firm UBS lowered its prediction for 2016 Apple Watch shipments by 23% to 31 million. UBM found that only 7% of the 430 million people with iPhone 5 and 6 devices are likely to buy an Apple Watch. Reviews for the device also are mixed.As Gizmodo put it: “Aside from price, screen resolution, and storage capacity, the Apple Watch is pretty run-of-the-mill from what we’ve seen from other smartwatches, and in the battery department it’s pretty paltry.”Still, it may be premature to call the Apple Watch a “flop” as some press outlets have done. Some pundits are noting that Apple’s foray into the wearables market has lended legitimacy to it. And sales aren’t too shabby either. 31 million is a lot of Apple Watches. There is even a business for buying Apple Watches and reselling at a profit on sites like EBay.Next >>
10 of the Hottest Wearable Companies
The promise of wearable technology may be more hype than reality at this point. But it is attracting remarkable amounts of investment cash. One wearable startup earned $32 million last year; another launched a crowdfunding campaign that attracted $1 million in ten days
Yet the thriving wearables market is still dwarfed in size by the medical device industry. Last year, the revenue of Medtronic was 38 times greater than that of Fitbit. But when it comes to growth, Fitbit has the advantage. Fitbits revenue in 2014 increased 148% over the prior year.
While the wearables market is still small, it is now too big to ignore. Here are 10 wearable companies to keep an eye on:
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