Biometrics has been stuck in a rut for a while. You look at one device and it seems like you have seen it all. How so? Lets look at the health and wellness devices area. In basic it will have a[n] (1) accelerometer (2) heartrate monitor (3) sweat sensor (4) temperature sensor and maybe (5) GPS
The tech isn’t actually complex, I can even make my own company hiring experienced rockstar engineers (from Apple, Google, Cisco) to make pretty strong prototypes in under 6 months. But the problem doesn’t reside there. It resides in what marketing strategists call a “red ocean” market.While I will elaborate this in the future the essence is that there are so many products in one area that they are tearing each other apart focusing on the same consumers, aka a highly competitive market.
What does it take to get out of a red ocean? By innovating. Companies currently in the biometrics area have not been innovating as much as they can. Maybe put a new way to measure *insert metric here* or make nicer software or even package it more “minimalist.” In reality, those are all strategies used in competing in a red ocean market.
However, innovation is not easy, but its happening in the biometric market in 3 ways
1. Better software (better software design, better integration onto mobile, more choices for a centralized system)
2. Better hardware (better accuracy, better battery usage, better integration)
3. Novel devices
So where are these novel devices and possible developments? Most reside in the academic setting including Stanford, Harvard, MIT, UC Berkeley but also have developments at places such as the Beckman Laser Institute at UC Irvine where they are using lasers to do what CTs only wish they can. Then there are companies like Tarilian Laser Tech where they are developing laser based Blood Pressure monitors, without using cuffs!
While there are a lot of skeptics thinking how screwed an industry is, there will always be a few innovators that know that this wont always be a highly competitive market.