According to Wearable Technologies, a pioneering platform in the wearable tech space, the value of the wearable tech market will boost from a little over $10 billion in 2017 to about $17 billion by 2021. As the customers’ spending limit stretch and the wearable tech adoption increases, the market will see a surge in growth and sales like never before. A report by i-scoop released a year back predicted that by 2026, wearable technologies would shift to new markets and there will be innovation concerning where it can be used on the human body.
Industries like healthcare and fitness, retail, etc., are already focusing on wrist wearables- the wearable technology aspect that is expected to see the highest boom by 2019. But, wearables have immense potential to transform other industries, too.
Field Service –
One of the most significant advantages of leveraging wearable technologies and gadgets in the field service management space is an increase in productivity. The value proposition of wearable gadgets in the space is high, owing to the following ways the technology will impact the way field services are delivered and managed-
Hands-free activities and operations –
Hands-free calling facility, information access from a smartwatch, AR-enabled resolution through smart glasses, etc., are a few ways that impart efficiency to the jobs of field service agents. With productivity enhancement, customer service improves drastically, and the customers perceive the company to be tech-savvy.
Reduction in errors –
With a wearable technology backing up field service operations and a comprehensive knowledge base being available on-the-go, a radical reduction in errors in the field service jobs can be expected. Smart Glasses can be leveraged to display the steps of particular field service support tasks clearly so that service agents get enough direction and data to complete tasks with ease and accuracy.
Capturing biometrics for better safety –
Wearable tech gadgets can capture field service agents’ biometrics such as their pulse rates, heartbeats, and temperatures. This data can be continually channeled to the field service management organization, where managers can track the data concerning their agents. The aim here is to provide a safe work atmosphere while monitoring biometric parameters to predict illnesses or health issues at the earliest.
- Banking and Insurance – About 22% of insurers are developing business strategies for wearable technologies in the insurance space and companies are trying to get on the move with their ideas of how wearable tech can transform the industry. Filling out a form that asks whether or not you smoke and how physically active you are is another thing, but getting the information from a wearable device that leverages advanced technologies is a whole other aspect. This data collected from an integrated insurance sales software is way more crucial and accurate than that collected from the former process. The process of data and information collection through a wearable device is beneficial for the insurer and the insured. A better health picture will help your insurer in keeping the aspects that are important for you under the radar. Besides health insurance, smart glasses can help companies get the audio or the video recordings of the insured person’s whereabouts, his driving, and can help better understand an accident scene for vehicular or life insurance. Apart from this, in the Banking sector, special care needs to be taken regarding the security of the trucks that transit cash from one location to another. A field service management software that has GPS enabled wearable device will help banking institutions track the location of these vehicles continuously.
- Remote Home Healthcare – A home healthcare software can largely benefit from wearable devices. Remote healthcare has become a priority for the differently abled and older patients who prefer to stay in the confines of their homes and get healthcare services delivered to their doorstep. A mobile healthcare software that is integrated with a patient portal will help healthcare providers to manage the care and services they offer to their remote patients. Moreover, self-care also becomes easy when there is a technologically-advanced system that provides assistance to patients who are on their own. In moments of a health emergency, a home healthcare software can help healthcare providers attend to remote patients for their SOS calls and urgent needs. In the healthcare sector, it is crucial to be efficient, and with the right mobile healthcare software, companies can become highly productive and quick in delivering services.
- The Oil & Gas Industry – In the Oil and Gas industry, there are many instances where wearable technology would be immensely beneficial. When an oil well needs to be dug, the security and safety of the technicians are vital, and there is a need for the field service manager to keep track of the happenings at the service site. With the right wearable tech, not only can the field service manager keep track of the health and safety of the technicians, but can also get timely reports on the status of the job. Oil and gas remote maintenance and oil & gas remote monitoring are two of the most crucial aspects of leveraging wearable tech in the industry. A field service management software integrated with wearable devices can also allow managers to set timely alerts for inspection and routine checks, thereby streamlining the processes and making operations manageable and clean.
- Landscaping Services – Landscaping services are offered by the companies who help people build attractive lawns and gardens in their residential premises or commercial settings. With the best landscaping software solutions, companies can provide standout services to their customers, detailing the look of their house with an added lawn/garden, without even having to pick up a spade! As landscaping services happen to be part of field services, managing them with efficiency is tricky. A field service management software is the key to effective landscaping services, and to monitor the technicians’ location, the health parameters, and several other factors, wearables can prove to be significantly crucial. Injuries and health risks can be monitored in real-time and alerts can be sent to the managers through wearable devices.
- Maid Services – Cleaning and other services involving household chores can be made 10x more efficient and productive to manage with the right maid services software. This field service management software can take help from wearable devices to track the maids as they leave houses and are in transit. Improved maid security and safety can be made possible when a maid services software leverages wearables. With an in-built alert alarm, a maid worker can inform her manager about any anomaly in their service site. These may include a health emergency, harassment, etc. With wearable devices, several applications can be made possible in the maid services industry. The right field service management software, integrated with wearables can change the landscape of the maid service providing businesses.
- Medical Equipment Manufacturing – In this space, it is important to regard the maintenance of equipment throughout their lifecycle as an essential piece. Medical equipment needs regular care and can only be serviced through efficiency and technical expertise. The use of wearable devices in this space can improve parts management and inventory management, as technicians are able to initiate requests for parts through their wearables on-the-go. Timely services are another crucial part of the medical equipment manufacturer’s processes. With wearable devices enabled with GPS technology, technicians can reach their destinations faster. Medical equipment maintenance consists of the need to regularly perform quality checks at the site, even when a fault has not occurred.
- Telecommunications – In the Telecom sector, there is a dire need to ensure the security of technicians performing their duties on service sites. A telecom field service management software should be well-equipped with wearable integration so that Telecom companies can keep an eye out for their technician’s security and whereabouts. When a Telecom business witnesses a boom, the need of the hour is to install more towers. This leads to field service jobs which need to be managed efficiently. The use of wearables in this space can lead to enhanced productivity, security, and accountability of technicians.
According to a report by Statista, the number of connected and active wearable devices will reach a whopping 929 million by 2021. The exponential growth in the number of connected devices from just 453 million in 2017 is itself a proof that wearable technology is here to stay and expand.