Wearable technology is exploding, with fitness wearables leading the way. In fact, wearable technology is one of the fastest growing sectors in the tech industry today, and seems to only be getting more popular. Every year, tons of new wearable products are going to market. Brands like Fitbit and Jawbone have seen incredible growth quarter over quarter as customers have gone from tracking their steps to tracking their heart rates, sleep patterns, and calorie consumption.
It’s an exciting time to be launching a new wearable. An emerging market sector always means the possibility of high reward for a popular product. It is also accompanied by high risk for several reasons.
New wearables are under a microscope from the moment they launch to see if they’re going to flourish or fail. And because wearables are complicated products that involve both hardware and software components, there is a lot that can go wrong once the product is in the hands of customers. These risks, coupled with so many new players and an unestablished consumer base, mean there’s little room for error during product development and launch.
We surveyed two thousand members of our beta tester community to find out more about the rise of fitness wearables and why the top companies are doing as well as they are. Check out our infographic below for the full results of our survey.