A combination of biometrics and wearable technology is inevitable and it expected to be the most disruptive technology in the coming decade.
Growth of biometrics
Biometrics are quite fascinating on their own and they may emerge to be even more amazing when combined with wearable technology. The usage of biometrics today is inhibited by capture technology which has seen minimal transformations in the last 25 years.
Notably, biometrics has evolved to allow for enhanced usability, improved anti-spoofing as well as improved portability. However, there have been hardly any revolutionary changes. It is like the industry has reached a revolutionary plateau.
The minimal development in biometric technology has resulted to constraints on both the types of applications that make use of biometrics as well as the types of biometrics that are used in the applications. Nevertheless, the introduction of wearable technology bring with it the potential or transforming the existing biometric operations.
Development of wearable technology
Wearable technology is comprised of devices including smartwatches and glasses, smart fitness clothing and earpieces and even multi-function badges. Even though it was introduced in the 1980’s, it is only recently that it has truly being absorbed into the mainstream of consumer applications.
The significance of wearable technology has notably grown recently with Gartner releasing a global forecast, predicting that in the next 2015-2020, the number of wearable devices sold will increase by about 16% annually. The corresponding revenue will grow by 21% annually, therefore, by 2020 approximately 480 billion wearable devices will be sold out generation revenue worth about $61.7 billion.
According to a report by Forrester, consumers based in Europe and U.S. indicated that they would most likely have the wearable devices on their wrist, embedded or clipped to their garments. Most respondents also foresaw wearable technology embedded in their jewelry, glasses, earphones, shoes and even in their arms.
Wearable technology is currently at the phase of Inflated Expectations and it heading towards the Trough of Disillusionment. This may result in failures as well as some successes.
Industries that are likely to benefit most from wearable technology include Healthcare, Financial services, and Public sector. Wearable technology is therefore expected to stay and result to great transformations in various sectors.