Recently, Fitbit has made a strong landing on the New York Stock Exchange. On the day of listing, stocks soared 50.2%. As the first publicly available wearable device company, Fitbit is eye-catching; Forbes magazine is one of the most anticipated IPOs of 2015.
Founded in San Francisco in 2007, Fitbit is one of the few companies to enter the field of wearables earlier. At the time, the wearable market was almost blank. Two years later, Fitbit released their first wearable device: a clip-like health tracking device designed to record user movement and sleep data. Today, eight years later, Fitbit has grown to become the world's leader in the wearable device market, drawing a 34% market share with a valuation of $3 billion.
Fitbit has succeeded in injecting a “strong shot†into the current messy wearable device market. So what is the current status of the wearable market? What are the limitations of products and technologies? After the Fitbit era, when can Chinese wearables achieve IPO?
Wearable market status
Fitbit's eight years of hard work is nothing more than a microcosm of the development of the wearable market, and today's wearable market is no longer a single-function health tracker a few years ago. Under the promotion of capital and the attention of the media, smart wearable technology has made breakthroughs in different fields. In addition to the smart bracelet products represented by Fitbit, traditional hardware companies such as Apple, Samsung, Huawei, Nike and other sports and entertainment companies, as well as Internet companies such as Google and Facebook, have also followed suit, product categories are all-encompassing, smart watches, smart Glasses, smart clothing, etc. occupied the entire market in a very short period of time, and the trend of wearable applications screamed.
It is reported that in the Chinese market alone, the scale of the smart wearable market will grow from 2.2 billion yuan in 2014 to 13.56 billion in 2015. It is expected to reach 30 billion yuan in 2017, and the market potential is huge.
However, the barbaric growth of the market has brought a lot of complicated wearable devices, and it has made it difficult for many practitioners to see the true meaning of the industry. The traditional form of exhibitions is time-consuming and laborious in today's fast and efficient information age. As an emerging form of exhibition, online exhibitions break the constraints of traditional exhibitions on venues and costs, and are being accepted by more and more countries and regions.
It is understood that the "OFweek 2015 China Wearable Online Exhibition (Summer)" will be held from September 15th to 16th, 2015, professional VR headset glasses EMAX, the country's leading smart watch manufacturers, family interaction, domestic Voice giant Yunzhisheng, storage chip giant Cypress and top industrial design company Rococo will all showcase the latest technologies, products or solutions online.
Product and technology limitations
Up to now, the growing wearable industry has not produced a well-recognized killer product: the function is still difficult to meet the market demand, the user experience is unsatisfactory, the user needs to explore the direction is not clear, resulting in the blind pursuit of functional definition Big and full.
How can we use the latest technology to better meet user needs?
We know that currently wearable devices are basically controlled by MCU or AP, and various indicators are used to measure related indicators, plus Bluetooth or NFC technology for wireless communication. While these technologies are relatively mature, they are far less complex to meet the needs of wearables than building blocks.
In addition, the battery life problem has also attracted a lot of criticism for the wearable device. For small screen or no-screen smart bracelet, this problem may not exist, but the smart watch equipped with LCD screen, CPU and GPU can be worn. The equipment still continues the embarrassment of the smart phone, and it is difficult to escape the fate of a day.
Although battery-related technologies such as wireless charging, flexible batteries, and fast charging are constantly evolving, it takes time. In the face of increasing consumer demand for low power consumption and the need for real-time entertainment features, existing battery technologies are instantly becoming vulnerable. It can be seen that in addition to seeking breakthroughs in battery technology, how to achieve lower power consumption while maintaining high performance will become a problem to be solved in the wearable device industry for a long time.
When can China's wearables achieve IPO?
The fiery market has attracted more manufacturers to compete in the wearable device market, and how can China's wearables be invincible? From the successful IPO of Fitbit, we can see that Fitbit's smart bracelet function is simpler, more specific and targeted than smart watches and smart glasses. Unlike Apple's Apple Watch and Google's Google Glasses, which are big and comprehensive in terms of functions and applications, Fitbit and Jawbone, which are emerging in the wearable device industry, are just the opposite, only because they do well in the field of health monitoring.
For them, the function is small and refined, even if they only focus on health monitoring, they can continue to renovate their designs. This is the capital that has been eaten from Apple and Google, and this is what many domestic companies lack. From the initial heart rate record to today's blood sugar and blood pressure, sleep monitoring, the Fitbits did the ultimate. From the perspective of R&D investment and marketing, “powering out a hole†can create greater benefits and the lower the probability of failure.
The above is a summary of the current wearable market. In the long run, with the continuous development of Internet of Things technology, software and operating systems, the wearable market will surely have a wonderful scene. The four exhibition areas on the "OFweek 2015 China Wearable Online Exhibition (Summer)" will be held from September 15th to 16th, 2015, namely the core technology and hardware industry chain exhibition area, software and service exhibition area, the latest achievements and hotspot exhibition area. The channel exhibition area will bring together hotter, newer and more creative products from different fields of the entire industry chain, which will effectively help wearable practitioners to assess the situation and better understand the entire wearable industry chain and seek product breakthroughs. Looking forward to your participation!
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