PwC Report: Wearables at Work are In Demand
A post on the PwC Emerging Technology blog suggests that companies that can provide consumers with in-demand wearables may be able to secure competitive advantage.
The blog article highlights a number of remarkable shifts in consumer attitudes towards wearable technology since the last survey on wearables trends was conducted in 2014, such as:
- Adoption of wearable tech devices has doubled
- Concerns over privacy issues have decreased
- Trust in security has increased
- Consumers are excited about the future of wearable technology as a part of everyday life
The positive shift overall in consumer sentiment has significant implications for wearable technology, from new workplace applications to opportunities for companies to connect better with customers. The spin offs of these positive attitudes towards wearables is that there is a more welcoming attitude within the workplace to wearable technology:
- Almost 8 in 10 people say wearables make them more efficient at work and feel time companies adopted wearables on the job
- 2 in 3 people believe their companies should fund the purchase of wearable tech devices
- 49% of respondents said wearables will increase workplace efficiency
- 37% of respondents expect their company to adopt the latest technology, even if it doesn’t directly influence their work
- Examples such as fitness tracking at work with company reward schemes would be welcomed
- Companies should provide smart watches to help employees test a new app
- 3D smart glasses should be provided to help shop floor workers identify and track inventory to reduce cycle time and improve productivity and performance
- Respondents were excited about applications in the doctor’s office and within banks, mobile providers, cable providers and car producers.
There is still some way to go with trusting wearables that may be provided by companies to consumers. However, consumer excitement has certainly soared. Consumers want something to fit their lifestyles and budgets but are ready to adopt. The report has significant competitive advantage implications for companies that can provide wearables to better communicate with their customers.