The future of wearable devices depends on an industry standard: expert

The future of wearable devices depends on an industry standard: expert

Monday, November 18, 2013
CNA

TAIPEI — Wearable computing devices, such as Google Glass, would not have a bright future in the consumer market unless an industry standard for the devices’ specifications is created, according to a local analyst. Technology companies such as Google Inc., Sony Corp. and Samsung Electronics Co. have introduced their own wearable devices in the forms of eyeglasses and watches, but various issues, such as privacy, remain a concern prior to the wider adoption of the devices by the public.One of the key factors to success in the consumer market is developing a standard across the industry for mass production of smart eyeglasses or smart watches, said Hou Chun-yuan, a senior analyst at the Industrial Economics and Knowledge Center (IEK) under the government-sponsored Industrial Technology Research Institute.

That would help manufacturers come up with “killer applications” for wearable devices and contribute to a shift in this technology from the niche market to the consumer market, in the long term, Hou said in a Friday, Nov. 15 research report.

He added that he believes wearable computing technology has “great potential of development” and will become a game changer in the industry, although that vision remains distant from the current stage.

Smart glasses are an emerging technology, with less than 1 percent of companies in the United States offering smart glasses, according to a Nov. 12 report from market research company Gartner Inc.

The use of smart glasses, however, has the potential to improve worker efficiency in vertical markets, such as manufacturing, field service, retail and healthcare, causing chief technology officers to take a fresh look at the impact that wearable electronics will have on its future, Gartner said.

“In the next three to five years, the industry that is likely to experience the greatest benefit from smart glasses is field service, potentially increasing profits by US$1 billion annually,” said Angela McIntyre, a research director at Gartner.

“The greatest savings in field service will come from diagnosing and fixing problems more quickly without needing to bring additional experts to remote sites,” she said.

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a comment