New Wearables
Once the era of the wearable market, which is cited as the next smart phone market, arrives, idea-oriented small and medium-sized enterprises (SMEs) are likely to grow more than large companies that produce a small number of items in large quantities. Some in the industry say that those SMEs could lead the market, as it is possible to have strengths in both IT, which is the core technology of wearable business, and the fashion and textile industries.
“In the case of wearable devices, there will be a market for electronic devices based on IT such as Samsung and Google, as well as a textile-based market that provides new-concept devices based on design and fashion,” said Dr. Han Sang-chul from the Korea Evaluation Institute of Industrial Technology. His remarks were made at the System Semiconductor Breakfast Seminar held in EL TOWER, Seoul on May 29. He added, “At first, large companies will lead the wearable market, but the ecosystem led by SMEs is expected to be formed later, as there will be a market for custom-made styles and designs.”
Dr. Han also pointed out that the advent of the wearable market may reverse the current market structure in which large enterprises produce finished goods and SMEs supply parts and components.
In addition, he stressed that as it will be possible for various wearable devices to be available in the wearable market, the country that takes the initiative in the construction and standardization of an open-source platform is more likely to lead it.
In fact, the local textile industry is working to develop smart wearable textiles. If the semiconductor industry joins the efforts, smart textiles can be developed much sooner.