The future of smart technology

Until recently, smart technology has been so closely linked to smartphones that many believed the two were synonymous. However, recent advances and the continued march of wearable technology are set to broaden our definition of smart technology.

It should come as little surprise that as more and more devices become smart, the average consumer is expected to own more and more smart devices. Wearables have evolved to include a wide range of products from smart glasses to fitness trackers and even futuristic Virtual Reality headsets.

Next generation smart devices with heightened connectivity are in high demand today, owing to the fact that most consumers who live their lives on the fast lane are increasingly seeking to stay ahead on all fronts.

The impact of smart technology extends far beyond the reach of consumer electronics alone. As the public’s conception of smart technology drifts further and further from smartphones, manufacturers must be willing to diversify their portfolios as well as enhance the ability of their devices to work together. While the growth of niche devices will make smartphones less important for the average consumer, they still have a role to play in the emerging Internet of Things (IoT) ecosystem. Consumers can be expected to gravitate towards innovation that provides seamless connectivity between their personal devices and other networks.

The Oculus Rift is just one example of niche smart devices that are moving beyond traditional forms. The ability of the Rift to create immersive virtual reality environments promises to be a game changer for how the average user interacts with their smart technology.

While Google Cardboard gives limited VR capabilities to Android devices, the enthusiasm surrounding the Rift indicates that there is a substantial market for specialised smart devices.

The proliferation of wearable devices has coincided with a vastly improved product ecosystem. Applications such as Starwood’s keyless entry for homes or the magic ticketing band found at Disney theme parks offer just a small peek at the wide range of uses for wearable technology. Near field communication (NFC) compatibility is typically found in IoT appliances but is also working its way into an increasing number of wearable devices. A number of companies have also pursued medical applications for wearables.

While there has been widespread disappointment with the app ecosystem for wearables so far, there is still reason to be confident that developers will soon create apps that are perfect for these new platforms.

Developers must move beyond attempting to simply port smartphone apps over to wearables, and instead need to dream up distinct new processes that harness the unique power of wearables. The uses for wearable-specific apps are limited only by the imagination, with personal finance, health, password authentication and remote entry being just a few of the areas that could benefit massively from wearable integration.

LG’s smart watch portfolio utilises Google’s Android Wear platform, giving it full compatibility with a wide range of smartphones and access to all IoT related wearable applications. In addition, LG already has a diverse smart home network in place with its SmartThinQ ecosystem. Although the company is yet to release an application that allows users to access the full power of SmartThinQ through wearables, LG electronics says it is only a matter of time before ittakes the lead in this market segment.

Wearables owing to their adaptability and functionality are poised to go beyond the wristwatch and take new forms in the coming years, with smart glasses likely to emerge as the next key wearable platform.

Released in Korea during early 2015, LG’s Urbane LTE broke was new ground for smartwatches with its full LTE connectivity. Unlike previous smartwatches which were paired to phones through bluetooth, the Urbane LTE’s ability to operate independently of a smartphone gave it wide appeal to both consumers and businesses alike.

According to LG, the Urbane LTE’s ability to make and receive calls provided the world’s first glimpse at the possibility of smart technology transcending the phone and taking other forms in the future. On the business side, insurance companies have latched on to wearables in recent months due to their value as health trackers.

Wearables are still a growing category, and growth will be largely dependent on pricing. The more closely wearables are able to mimic the accessories they are modeled after, the more eager consumers will be to purchase them.