Author: Stephen

Wearable technology market is maturing at a rapid pace

Wearable devices are still in short supply, but the demand for them is huge

Wearable technology may be in a state of infancy, but the market is maturing at a rapid pace. The demand for wearable devices is on the rise and many people are expressing their eagerness to purchasing upcoming products from companies like Google. This demand has been highlighted by the recent launch of Amazon’s Wearable Technology Store in the United Kingdom. The store has shown that many people have an interest in wearable devices, even though a relatively small number of these devices are currently available to them.

People are eager to get their hands on new wearable devices

Even in a state of infancy, wearable devices are somewhat advanced. Google Glass, for instance, uses augmented reality technology to enhance the physical world with digital displays. The device can be controlled with a person’s voice, simple head gestures, or with a control panel. Google has yet to announce an official release date for Glass, but the company did recently announced that it would make Glass available in the United Kingdom.

Amazon may become a very influential figure in the new technology market

amazon - wearable technologyAmazon’s Wearable Technology Store currently has more than 100 wearable devices listed from various companies. The store exists one of the very few platforms that cater to the interests of those that have a fascination in wearable technology. Amazon may prove to be a very powerful figure in this emerging market, especially as more wearable devices see release in the coming years and the demand for these devices begins to explode.

Wearable devices are yet another stepping stone toward more integrated technology

Technology has come to play a major role in society as a whole. The advent of smartphones began people’s rapidly  growing reliance on mobile technology and this reliance has evolved into an aggressive interest in new technology that can become more integrated in daily life. Wearable devices seem to satisfy this interest by allowing people to become more integrated with technology. This technology also helps make the features of smartphones and tablets offer a little more convenient.

Consumers want more from mobile payments

Many consumers have high expectations that have yet to be met

Engaging consumers in the mobile space is proving to be quite difficult, especially where commerce is concerns. Reputation Leaders, an independent research firm, conducted a study between April 29 and May 20 of this year. Some 15,000 people between the ages of 18 and 64 from 15 of the world’s largest markets were surveyed and the firm found that there are significant variances in mobile payment activity throughout the world. The study suggests that consumers in these markets are expecting more from the mobile commerce space, but they are being let down.

Study shows that China leads the way in mobile commerce activity, followed by Russia

According to the study, China leads the way in terms of mobile commerce activity. Some 90% of respondents in China said that they use their mobile devices to purchase products and services regularly. Russia comes in second, with Brazil and Turkey following. Despite the high number of people participating in mobile commerce, the payments process remains somewhat cumbersome. In China, 35% of consumers want mobile payments to be easier than they are currently. If payments were easier, more consumers would likely participate in mobile commerce.

US consumers want to see more businesses embrace mobile commerce

mobile payments - consumersIn the U.S., 54% of respondents to the survey believed that small businesses could benefit from mobile and digital commerce. If mobile payments were easier, more businesses throughout the country may benefit, as cash flow would become smoother and somewhat more reliable. Mobile consumers are a large demographic that is growing quickly. These consumers account for a great deal of commerce potential, but relatively few businesses are engaging these consumers in an effective manner.

Technology could help make commerce more convenient for consumers in general

A similar study from PayPal found that 70% of consumers throughout the world felt that technology could make commerce much simpler than it is currently. Mobile technology, such as QR codes and NFC, could streamline commerce, creating easier ways for consumers to pay for goods and services and take advantage of the convenience of mobile commerce.