The next trillion dollar industry globally, the Health & Wellness market space, is dominated mostly by beauty and anti-aging product sales at $679 billion, followed by fitness and mind + body exercise ($390 billion) and healthy eating, nutrition and weight loss sales ($277 billion). But not far behind in terms of annual growth is the fitness and wearable technology sales (think Nike, Gramin and Apple smart watches) is up $10 billion to $81.4 billion in wholesale sales in the US. The digital fitness category is now a $330 million market annually, and that is just one of many wearable fitness categories that is experiencing exponential growth.
Since the FitBit release over ten years ago in 2007, the Internet of Things (IoT) has moved above and beyond smartwatches to many other products that we can easily wear to enhance our personal health and wellness. IoT is enabling a range of health and fitness devices that are available from both established companies and new start-ups. Industry giants and thought leaders such as FitBit, Under Armour, and Intel have recently all announced new health and wellness connected devices.
Under Armour
Sleep Number Bed
Probably one of the most interesting products IoT has created for personal health, the Sleep Number IT Bed is a connected bed. The connected bed included its SleepIQ algorithm and predictive modeling, as well as Active Comfort technology that lets the bed adjust to firmness and support to the user’s needs. It also includes an app that would allow it to interact with other connected devices, perhaps suggesting a different sleep setting post-workout.
LifeBEAM
The LifeBEAM smart helmet was created to enhance performance for bikers. The helmet includes an integrated heart rate monitor that measures heart rate, calories, and performance. The helmet works with a dual module with bluetooth 4.0 and ANT connectivity. The helmet also includes an optical sensor that is compatible with the weather.
Digistole
LifeFuels
LifeFuels created the smart nutrition model. They have developed a smart water bottle that includes includes a water tracker, that tracks the intake of water throughout the day, as well as suggesting many nutritional additives to the water via the “fuelpods.”
Intel
Intel has been making it big lately with IoT and connected products. Recently, they announced Curie, a small computer module. Through their partnerships with ESPN and Red Bull Intel is incorporating the Curie chip into BMX bikes and snowboards. Additionally, with their partnership with Oakley, Intel created Radar Pace; a pair of smart goggles that are being developed to track the user’s run and offer real time personal training and coaching tips.
Personal wellness should be the top priority for everyone and IoT is making it easier and more fun for people to motivate their minds and bodies toward a healthier existence. IoT is making our lives easier one connected product at a time. Stay tuned for our next IoT Industry post to see new and innovative ways IoT is changing our lives.
Do you have an IoT project you need help with? Bluefin Technology Partners helps companies build amazing connected solutions. We understand the complexity and collaboration required between organizational disciplines in order to deliver an IoT product to market on time and on budget. We provide the services needed to assess your market, manage your partners, and shepherd your project through successful launch.
