Table of Contents
- What Is A Wearable Technology Company?
- What Does A Wearable Tech Company Do?
- What Are The Industries That Benefit From Wearable Technologies?
- How Much Do Wearables Technology Companies Charge?
- Why Hire A Wearable Technology Company
- How To Select The Best Wearable Tech Company
- 10 Questions To Ask Wearable Tech Companies
- Takeaways On Wearable Technology Companies
A wearable technology company helps brands create custom tech gadgets that consumers can wear. These electronic devices are designed to collect real data on their behavior and lifestyle.
These companies have teams of experts who design the product, develop software, back-end infrastructure and mobile applications to deliver an innovative wearable device.
Wearable technology can incorporate products, such as fitness trackers or apps that accompany wearable technology, such as Apple Watch add-ons.
A wearable tech company has specialized expertise in IoT (Internet of Things) to develop unique connected devices that can be worn as accessories.
The technology uses sensors to track movement and biometrics as well as microprocessors to collect and send data through the Internet.
Also known as ‘wearables’, these hands-free devices connect to consumers via sensors and gather data to help them accomplish their goals such as staying fit, being more organized, tracking their mental health and more.
An ever-increasing number of people are interested in wearables to improve their wellbeing.
According to Statista, the number of wearable gadgets is projected to reach over one billion by 2022. Moreover, by 2024 there will be 368.9 million users of wearable devices.
Wearable technology companies can help your brand bring a totally new product on the market that engages your target customers and keeps you ahead of the competition.
What Does A Wearable Tech Company Do?
A wearable technology company has the team, resources and expertise to develop a wearable device with the functionalities and usability you desire.
These professionals are developers, software and hardware engineers who provide end-to-end product development and app implementation.
They have the technical skills and creativity to take your vision to another level and build a wearable device that embodies your brand’s values and mission.
Because wearables tech companies understand the effort that goes into launching a wearable device in the marketplace, they provide assistance every step of the process, from concept to production.
Firstly, they take the time to fully grasp your idea and business goals. Then, they conduct industry and competitor research to get a clear understanding of the potential of your idea.
Nonetheless, these professionals study the market to define and understand your target audience in order to assess how the product will perform in the marketplace.
Before starting the development of the product, they develop PoC (proof of concept) and test it with your target customers. Upon getting feedback, these experts improve it and set out to the final production.
Moreover, a wearable technology company will propose a rollout strategy to ensure your new product delivers the expected results.
These companies typically specialize in:
- Market research
- Device Design
- App development
- Software development
- Back-end infrastructure
- Mobile applications
- App testing
- AR/VR app development
- Business analysis
- Consulting and strategy
- Quality assurance
- And more
They can develop a wearable device or app that oozes innovation and solves real-life problems shared by your target audience.
What Are The Industries That Benefit From Wearable Technologies?
The expansion of wearable technology has opened doors for many industries.
Wearable tech doesn’t boil down to only smartwatches, headsets or high-tech clothing, it has shifted its focus from consumers towards serving sectors such as the military or medicine.
Here are the top industries that benefit from wearable technologies:
The fitness industry has taken full advantage of this technology. Fitness trackers are the most well-known form of wearable tech.
Wearable technology devices within the fitness industry include smartwatches, fitness trackers, smart clothing (such as golf shirts and athletic socks) and running shoes.
Consumers use activity monitors to track their heart rate, sleeping patterns, daily steps, nutrition goals and other wellness metrics directly from their wrist.
In addition, fitness trackers have fully-integrated mobile apps that sync data and monitor any applicable activity at the same time as the tracker.
This improves the user experience by allowing consumers to check their data in several places and enabling the app to record it in multiple ways, ensuring its accuracy.
This is where wearable technology shows its true power as it can actually save lives.
KardiaMobile has designed a medical wearable for elderly care. It’s a tiny touchpad attached to a smartphone that can detect three types of heart arrhythmia.
According to Forbes, hearables are a new wearable technology category on the rise. These tech devices placed in the ear not only allow you to stream music or access your assistants, but they can also function as a hearing aid.
But most prominently, wearable technology is outfitted for patients to monitor health problems or manage chronic conditions. These devices can include pacemakers, which are actually worn inside a patient’s body and certain heart rate monitors.
Wearables are also used by doctors during long surgical procedures, such as sterile smart glasses.
#3 Public Service
Public service professionals such as law enforcement officers, firefighters and military personnel are incorporating wearable technology in their daily routine.
Notably, many police officers wear body cameras to better ensure public safety and deter any potential abuses of power.
Meanwhile, some fire departments have incorporated body sensors that track body temperature and overexposure to heat.
As they are fighting fires, the wearables are particularly useful and tell them when they need to exit the building to recoup before reentering.
Several industrial sectors are utilizing wearable technology, including mining and professional technicians.
Devices such as smart glasses are enabled with sensors that track a person’s level of alertness, ensuring their personal safety and minimizing the risk of machinery accidents.
Wearable technology is especially useful for workers who work long hour shifts or operate heavy machinery regularly, as these professionals are often in danger of microsleep.
Luckily, industrial smart glasses are equipped to search for signs and alert the wearer.
Education is capitalizing on wearable tech to help students learn faster and teachers instruct better. For example, teachers can use smart glasses equipped with facial recognition tech to remember students’ names.
But perhaps the most exciting advancement is in virtual reality and augmented reality for the students themselves.
With VR and AR headsets or glasses, students can take virtual field trips, something that is quite beneficial to low-income districts with limited budgets.
Students can also record their classes with headsets and watch them again later, which can assist students with learning disabilities and help kids understand difficult subject matters.
How Much Do Wearables Technology Companies Charge?
Wearable technology projects don’t come cheap. Expect to spend tens, if not, thousands of dollars creating a user-friendly highly-specialized product that integrates the Internet into a tiny device.
The cost of a wearable gadget or app greatly depends on the features that are integrated into them. The hours that go into development dictate the overall cost of the product.
So, to find out the price for a wearable product you need to evaluate the total amount of time that goes into implementing each feature.
Most wearables technology companies in the U.S. charge between $55 and $125 per hour. The hourly rates are less expensive for specialists in Europe, who charge between $35 and $50.
Regardless of location, wearable tech companies take on projects valued between $10,000 and $25,000. But there are more high-end US-based companies that charge up to $50,000 per project.
Why Hire A Wearable Technology Company
Here are the top reasons why you should hire wearable tech companies:
Reason #1: Problem-Solving
A strong brand’s motivation for creating new products, including wearable technology devices, should be to solve common challenges that consumers face.
This idea, which mirrors “design thinking,” gives innovation a stronger context by making the ‘why’ clear for developers and consumers.
As wearable technology companies look at the issue they aim to solve, the necessary features, functionalities and user experience will become apparent.
These companies will help you develop a useful product that consumers will enjoy using, which will in turn build brand loyalty.
Reason #2: Endless Possibilities
As with many digital devices, wearable technology has the potential to scale in nearly any direction.
Therefore, the brands that invest in creating wearable technology now will be that much further along when the sector will boom.
After all, the wearables market is projected to reach $62.82 billion by 2025.
Wearable tech companies can provide innovative technology solutions to serve brands across all industries.
Reason #3: Knock off the competition
At the end of the day, wearable technology is a smart and innovative field to venture into because it’s trendy.
The smartwatch market explosion alone has proven that consumers will jump at the chance to wear the Internet, so long as it has a great user experience.
Because wearable technology is relatively new, the brands that capitalize it have the opportunity to quickly and easily surpass their competitors.
Some trends that captivate consumers are easy and relatively inexpensive to execute, which means that nearly every company attempts it.
But if a brand can pull off a wearable technology device, they are almost certain to snag users’ attention for a long time to come.
How To Select The Best Wearable Tech Company
Given the rising competition in the industry, selecting the best wearable technology company might get tough.
Take into consideration these facts when hiring a wearable technology company:
Fact #1: Your Vision
The top wearable tech companies in the USA will be able to take your company’s vision, create a strategy and timeline, and bring the device or app to life in a way that represents your company well.
Both agency and client should agree upon the goals and prominent features that the item will have. Otherwise, you’ll waste your time butting heads instead of driving the project forward.
Before you approach a company to partner with, determine a succinct, streamlined vision for the project and set the ideal objectives you aim to achieve.
What functionalities should the product have to maintain a strong user experience? Which gadgets do you want your app featured on?
Have your own answer for these, then find a great company whose vision aligns with yours.
Fact #2: Previous Work
Take the time to find companies that can boast a broad portfolio, both in developing custom devices as well as mobile applications.
If you find a company that is trying to break into wearable tech but doesn’t have comprehensive expertise, you should probably explore other alternatives.
Learn about their most challenging design and development projects and ask detailed questions to ensure they understand the industry, the technology and the details that go into creating a wearable product.
Fact #3: The Team
The members working on your project are more important to success than the agency you choose overall. These are going to be the professionals you are communicating and collaborating with daily.
They are responsible for bringing your brand to a new market. You need to feel confident in their abilities.
Learn about each potential expert’s background throughout the company discovery process.
Perhaps an amazing company doesn’t quite have the expertise you’re looking for. However, they may have a few employees with a strong skill set that qualifies them to complete the tasks you set out to accomplish.
Don’t rule out a smaller team of experts that are more qualified than a larger, dedicated firm, especially if their work history and case studies showcase true talent.
Fact #4: The Pricing
As we said already, wearable technology development is a costly venture.
But even though wearable gadgets are expensive, don’t just sign a company at whatever quote they give you, even if they seem like the best in the biz.
Inquire what exactly you’ll be paying for, how many prototypes you’ll receive and what the projected return on investment will be.
The latter, in particular, will be extremely telling in determining if a wearable technology company can truly create a digital product that consumers will love.
10 Questions To Ask Wearable Tech Companies
Prior to starting a partnership with a wearable technology company, you should get as much information as you possibly can about their past experience, development process, corporate culture and quality of work.
Ask them these questions:
- Are you more experienced in developing wearable technology devices or applications?
- Who are some clients that you have worked with and in what capacity?
- What similar projects have you recently completed and what was the outcome?
- How do you predict this product will change users’ behavior?
- What is your process for creating an innovative design that matches our brand identity?
- How often can we expect drafts, updates and meetings?
- How do you determine a project timeline and how do you plan to keep it on track?
- Who are our competitors in the market? How did you determine that?
- Who will be working on this project and what will their role be?
- Where do they think the wearable technology industry will be in the near future?
Takeaways On Wearable Technology Companies
Wearable technology companies in the United States have teams of highly-skilled professionals with IoT expertise who can design and build wearable devices or apps.
These are the typical services a wearable technology company specializes in:
- Device Design
- App development
- Software development
- Back-end infrastructure
- Mobile applications
- App testing
Most wearables tech companies have an average hourly rate between $55 and $125.
Best of luck!