In the business world, Apple entering your product category is a little bit like a tsunami crashing into a home aquarium. What had previously seemed like a nice, small and self-contained ecosystem suddenly runs the risk of being obliterated by a giant wave-maker.
When Tim Cook announced the Apple Watch at Apple’s recent media event, the crowd went wild. But exciting as it was for consumers, it represents a seismic shift for the currently $330 million wearable tech industry.
Devices that can serve up smartphone notifications, track fitness goals and even advise us on health matters have the potential to be huge — but they’re not yet. That’s about to change, according to Juniper Research, which forecasts that wearable devices like smartwatches could hit sales of $19 billion by 2018.
What happens to Apple’s marketplace rivals as this sea change takes place? Cult of Mac did some digging to find out how companies like Jawbone and Fitbit plan to survive Apple’s smartwatch revolution.