1INTRODUCTION TO MARKETING Introduction The main objective of this paper will be to discuss about the impact of wearable technology on the lifestyle of the consumers in the region of Australia as well as in other parts of the world. It can be seen that in the last decade, there has been a rapid popularity in wearable technology which includes activity trackers, smart watches and smart clothes. Organizations along with the consumers has already started to use different devices of variety of applications, and there is no slowing down of using these wearable devices and getting the benefits from them. Concept of wearable technology has thus become popular, and the benefits of using this will be discussed in this paper. Concept of Wearable Technology The term wearable technology can be regarded as smarty electronic devices which are used to identify, analyse and exchange the information regarding body signals and ambient data. They possess different applications, and wearable devices like activity trackers are examples of Internet of Things. Apart from their commercial usages, wearable technology is also used in navigation systems, healthcare and advanced textiles (Attallah and Ilagure 2018). It can be stated in this context that wearable technology are the result of advancement in the area of technology, and it can be stated that this advancement or improvement has increased both the competition between the business houses and satisfaction level of the consumers. This has forced to alter the lifestyles that are followed by the people across the world, and implementation of this wearable devices has radically changed the overall lifestyle of these people across the world (Gimhae 2013). There are different kinds of wearable technologies that are used through different products like Glass Explorers from Google, Smart watches from organizations like Motorola,
2INTRODUCTION TO MARKETING Pebble and Apple, Activity Trackers, Smart Jewellery, Head-Mounted Optical displays and Earbuds. But, it can be stated here that one of the major limitation that hampers the usage of these wearable technologies are the limited capacity of the batteries that are installed within these devices (Stephensonet al2017). Advantages and Disadvantages of Wearable Devices The most important advantage that is possessed by these wearable technology is staying connected. Improvement in the area of technology has increased the competition between people, and it has become difficult to stay connected with the peers, colleagues and friends in this global competitive business world. The devices used in wearable technologies can help a person to attend the incoming calls, alert them about the messages, emails and lots more activities without checking the mobiles on continuous basis. Location of the phones can also be done if they are lost, which has helped many users of these wearable devices, apart from connecting the phone with the Internet of Things devices in residences of the people (Ching and Singh 2016). Controlling the temperatures and switching on and off the lights can be made by sitting in a place, which also helps the people to perform lots of activities through these wearable devices while sitting in a place at home. Convenient tracking of the personal data related with health and exercises are also another major benefitted that is enjoyed by the people across the world who are using the wearable devices. Oncoming dangers can also be identified by the employees who work in emergency and high-risk jobs like mining, firefighters and oil and gas employees. Heart attacks and falls can be detected and the recorded data can be send immediately to the associated people for any kind of assistances. Efficiency and safer lives are provided through the usage of these devices (Brown, Ashley and Koh 2018).
3INTRODUCTION TO MARKETING One of the most important disadvantage that is possessed by these devices on the lifestyle of the consumers is the prices of these wearable technologies, as it can be stated that all these wearable technology-enabled devices are very expensive in nature, and cannot be afforded by most of the consumers across the world. It is regarded as a luxury purchase rather than a necessity one, thus regulating the circulation of the benefits that are possessed by these wearable technology-enableddevices(Chen and Shih 2014). Batterylifeof the productsare also hampering the use and gaining the benefits of the devices that are categorized under these wearable devices. Battery life is a critical issue in using these devices, as they do not last for enough amount of time, and it may not support when it will be required the most. The charging mechanisms are also limiting the usage of these devices, and it can be said in this context that using the wearable technology is complex in nature, and are getting smaller day by day. Using mechanisms also complicates the overall benefit generation of the devices used in this wearable technology. Privacy concerns also get hampered due to usage of these devices, and important personal data may be tracked and can be seen by many people, who will break the privacy regarding the usage of the wearable technology. Some of them are also non-standalone in nature, and possess health and security related issues, as the risk factor of using these devices are pretty high than any other devices (Awolusi, Marks and Hallowell 2018). Impact of Wearable Technology Wearable devices have multiple uses for tracking heart rate, physical activity, sleep and theyprovideworkoutson-screen.Thesedevicesaremostlypairedwithawebsiteora smartphone for storing and tracking the data. The wearable’s were hyped about the fact that it has the potential for the promotion of positive health results but a recent research suggested that they may not impact health as expected(Jhajharia, Pal and Verma 2014).For instance, one
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4INTRODUCTION TO MARKETING Australian health journal evaluated the concept of wearable devices in weight loss program. It claimed that people using this technology will yield better outcomes in terms of weight loss. But after a prolonged study, it was observed that weight loss outcomes were not more for those who used the wearable devices as compared to those who didn’t use it. However, it will be wrong to conclude that wearable devices do not give expected outcomes in other health programs. They have been very useful to help a doctor and patient both in the creation of a plan of care and track results. Self-monitoring meters and monitors related to blood sugar and pressure were around in Australia for a while but as it uploaded the data automatically to a smartphone application or a website, it did yield better health outcomes. Patterns can be tracked, instant feedback can be given and progress can be shown and shared easily to a clinical, with these programs. The wearable devices are not only getting integrated with wellness programs, but also paving their way into medical settings and being utilized to offer more objective information. Some clinical institutes in Australia have already started the use of such devices to gather real-time data from the patients. This data will be put into research to find out the best possible ways of recovery and develop decision-making processes. The devices that operate together with apps or websites or even artificial intelligence, can be used to predict the attack from inactive disease conditions before they are manifested clinically, such as the probability of heart attacks. It has been estimated that wearable technologies will prosper an international cost savings in the health care sector, worth 200 billion dollars(Kolodzeyet al2017).This will also permit the patients to look for more effective and cheaper treatment facilities with better forecast. In turn, it will save the patients from the huge burden of a long-term and over-priced treatment processes. However, the wearable devices do not facilitate the patients alone. They are equally helpful in the reduction of hospital costs if used properly. Moreover, the health insurance companies can
5INTRODUCTION TO MARKETING incorporate their insurance plans with the wearable technologies in order to translate a crop of healthier clients along with lesser claims. At the same moment, it should be noted that such devices possess very less security measures to keep the customer data safe. Most of the data is unscriptedandsincetheyoperatewiththehelpofWi-FiorBluetoothconnections, cybercriminals may find it easy to get access to it. But wearable have the capability to evolve continuously which means that it will develop higher-priority targets(Slade Shantz and Veillette 2014). Conclusion From the above discussion, it can ne stated that the impact of wearable technology is huge in the lifestyle of the consumers globally, where different kinds of data can be monitored and gathered to analyse them according to their requirement of the people who are using this (Yanoet al2015). Though there are disadvantages of using these devices, still it has changed the lifestyle of the people who are also using the devices from the viewpoint of fashion statement. The lifestyle of these global consumers has thus hugely impacted by these wearable technology, and people has already started to use these devices from wearable technology to get the benefits used of the devices which are mentioned earlier in this paper. It has both impacted positively and negatively on the life of the consumers, but the positivity are more than the negative effects.
6INTRODUCTION TO MARKETING References Attallah,B.andIlagure,Z.,2018.Wearabletechnology:Facilitatingorcomplexing education.International Journal of Information and Education Technology,8(6), pp.433-436. Awolusi,I.,Marks,E.andHallowell,M.,2018.Wearabletechnologyforpersonalized construction safety monitoring and trending: Review of applicable devices.Automation in construction,85, pp.96-106. Brown,M.S.,Ashley,B.andKoh,A.,2018.Wearabletechnologyforchronicwound monitoring: current dressings, advancements, and future prospects.Frontiers in bioengineering and biotechnology,6, p.47. Chen, C.C. and Shih, H.S., 2014. A study of the acceptance of wearable technology for consumers: An analytical network process perspective.International Journal of the Analytic Hierarchy Process,29, pp.1-5. Ching, K.W. and Singh, M.M., 2016. Wearable technology devices security and privacy vulnerability analysis.International Journal of Network Security & Its Applications,8(3), pp.19- 30. Gimhae, G.N., 2013. Six human factors to acceptability of wearable computers.International Journal of Multimedia and Ubiquitous Engineering,8(3). Jhajharia,S.,Pal,S.K.andVerma,S.,2014.Wearablecomputingandits application.International Journal of Computer Science and Information Technologies,5(4), pp.5700-5704. Kolodzey, L., Grantcharov, P.D., Rivas, H., Schijven, M.P. and Grantcharov, T.P., 2017. Wearable technology in the operating room: a systematic review.BMJ Innovations Journal,3, pp.55-63.
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7INTRODUCTION TO MARKETING Slade Shantz, J.A. and Veillette, C.J., 2014. The application of wearable technology in surgery: ensuring the positive impact of the wearable revolution on surgical patients.Frontiers in surgery,1, p.39. Stephenson, A., McDonough, S.M., Murphy, M.H., Nugent, C.D. and Mair, J.L., 2017. Using computer,mobileandwearabletechnologyenhancedinterventionstoreducesedentary behaviour: a systematic review and meta-analysis.International Journal of Behavioral Nutrition and Physical Activity,14(1), p.105. Yano, K., Akitomi, T., Ara, K., Watanabe, J., Tsuji, S., Sato, N., Hayakawa, M. and Moriwaki, N., 2015. Measuring happiness using wearable technology.Hitachi Review,64(8), p.517.