Wearable technology has already shown signs that it will be dominative this year. Since January we have been provided with a rather large list of future product releases focusing on the wearable technology, where most of them tie around your wrist. Samsung is speculated to release the next generation of its smart gear in April, Creoir has announced a new smartwatch from their long work-in-progress list of wearable mobile products, Motorola announced Moto 360, the first Android smartwatch, and during the last CES, LG announced a partnership with Line that will enable people to communicate with smart home appliances through their wrists.
But such products are only the tip of the iceberg. Google announced couple of weeks back its Android SDK for wearable products such as smartwatches, and also revealed that the company is working on a smart contact lens in its Google[x] labs. Not to mention their last year Google Glass release which is still in Beta.
All these indicate that technology is progressing in a fast pace. We are not far from seen such products been worn on a daily basis by every-day people. We already wear our Jawbone UP, our Fitbit and Nike Fuel. According to a number of predictions, wearable device orders will reach over 100M pieces by the end of 2016. On another research, Juniper forecasts that there will be a worldwide spending of approximately $1.4 billion on wearable technology by the same year.
The only question is when advertising is going to lay its hands on such mobile devices. Some might say that it is too soon for speculations, and that mobile marketing has only become mainstream during 2013. Some others will argue that we are now with mobile, exactly where we were with the web in 2002.
However, mobile advertising is soaring, growing over 105% in revenues during 2013 bringing over $18B in revenues by the the same year. Likewise, 2014 is expected to bring a 75% growth reaching $31B in total sales and $18B in advertising spend. The growth of digital advertising is inevitable, moving from online and tablets to mobile screens and, of course, wearable devices. In a recent announcement, Hipcricket, a leading mobile advertising company, looks into bringing mobile advertising to Google Glass and other wearable devices during 2014.
Hipcricket is only the beginning, as more and more mobile advertising houses will start investigating how to best trigger user patterns and track activities on wearables. The possibilities are endless, from eye tracking patterns, where advertisers will be able to identify whether consumers “laid eyes” on their ads, to real-time activity sensitive ads, where advertisers will know what their audience is doing at any given time.
The more wearable products become mainstream the more opportunities will surge for advertisers to reach their audience more effectively. However, such technologic advancements come with the cost of privacy violations. We know what’s coming and we have an idea what it is going to look like. Maybe for once we start building regulations before any privacy issues arise at all.
Cover image source: Stat Easy
Categories: Mobile Advertising