Is that a smartphone? A computing device that you hold in your hand? How quaint. That may have been cutting-edge technology back in the bygone era of 2007, but this is 2013. And in 2013 the future is wearable technology.
Although it may be the future, wearable technology is hardly a new technological concept. The first ‘smartwatches’ were found on the wrists of consumers back in the early-1980s. These first articles of wearable tech could accomplish the amazingly-advanced task of memo taking, basic math calculations, and, of course, telling time. Cool tech products for the time (depending on your definition of cool), but not entirely useful. It has only been recently that various technologies have advanced and converged to the point where a wearable computing device can be a practical consumer product with applications useful for the average person. And like with most things tech related, the companies battling it out in this space are none other than Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG).
The Smarter Smartwatch Maybe it would be more accurate to say that Apple Inc. (NASDAQ:AAPL) is rumored to be battling in this wearable tech space. Recent speculation has indicated that Apple is currently developing a smartwatch that could be released as early as this summer. Referred to as the Apple Inc. (NASDAQ:AAPL) iWatch by the tech media, absolutely nothing concrete is known about this device (not even confirmation that is an actual product in development).
Sources familiar to the project say the supposed iWatch device will run some version of the iOS mobile operation system. This could mean a full version of iOS found on the iPhone and iPad or a scaled-back version catered specifically to the iWatch experience (similar to the version of iOS found on the Apple Inc. (NASDAQ:AAPL) TV set-top box).
Other sources claim that the device will feature Wi-Fi and Bluetooth, connecting to a user’s iPhone to deliver emails, texts and other notifications directly to the iWatch. This paints a picture of the iWatch being a supplementary device, seemingly requiring an iPhone or another connected device to the full functionality of the iWatch.
Rounding out the rumored technical specifications are Apple Inc. (NASDAQ:AAPL) Maps with integrated GPS, full Siri support and a curved glass display, possibly the new bendable Willow Glass developed by glassmaker Corning Incorporated (NYSE:GLW).
Look Ma! No hands! A smartwatch is all well and good, but truly hands-free (or wrist-free) computing is potentially even better. That is where Google’s latest project comes into play: Google Inc (NASDAQ:GOOG) Glass.
Unlike the iWatch, Google Inc (NASDAQ:GOOG) Glass is very much a real and confirmed effort by Google Inc (NASDAQ:GOOG) to develop smartglasses technology. These Google Glass smartglasses display smartphone-like information directly onto the lens of the user’s glasses. Being a hands-free computing device, the user interacts with this information using natural language voice commands. If you wish to send a text message, it is as simple as saying “Okay, Glasses. Send a message to…”
The functionality of the current prototype Google Glass includes taking still photos and recording 720p video using the embedded camera, interaction with Google Inc (NASDAQ:GOOG) Now (Siri-like personal assistant program) and navigating using Google Maps with integrated GPS.
Similar to the rumored specifications of the unconfirmed Apple Inc. (NASDAQ:AAPL) iWatch, Google Glasses will lack any cellular connectivity of its own. The smartglasses will require a Bluetooth connection to a separate device to provide the internet connected functionality. This makes sense, considering the battery size and weight restrictions of a device you wear on your face. At $1,500 a pop for the developer version of the Google Glass, though, that is seemingly a large price tag a supplemental device. The final consumer version, however, could potentially cost significantly less by the time of its estimated release in Q4 2013.
The Stylish Alternative Google is not the only company developing smartglasses. When glasses are involved, there is no possible way you could exclude the Milan-based Luxottica Group SpA (ADR) (NYSE:LUX). The world’s largest eyewear company, Luxottica has a near monopoly on anything eyewear related. Although not normally known for its contributions to the tech world, this sunglass and prescription glasses manufacturer, retailer, and vision benefits company has been developing technology for smartglasses display optics for nearly 15 years.
Luxottica is said to have about 600 patents in this area and has many option as to how to make use of their technology and patents. Luxottica could decide to (1) license their patents to a more tech-centric company like Google Inc (NASDAQ:GOOG), (2) create their own smartglasses using one of their many in-house brands such as Ray-Ban or Oakley, or (3) possibly partner with someone like Google to create a stylish pair of Google Inc (NASDAQ:GOOG) Glass smartglasses. With the world’s most popular brands, over 7,000 retail worldwide store locations (LensCrafters, Pearle Vision, Sunglass Hut and a dozen other retail banners) and hundreds of patents, Luxottica could be a sneaky dark-horse in the emerging world of wearable tech.
Foolish Bottom Line Wearable tech has the potential to change the way we interact in our internet-connected world. While the immediate future of wearable tech is smartwatches and smartglasses, the space a decade from now could involve seemingly science fiction-like clothing with touchscreens sown directly into the fabric. This is truly an exciting time for wearable tech and the companies involved in this emerging product category.
The article The Future of Wearable Tech originally appeared on Fool.com and is written by Matthew Luke.
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