As the limits of capability are pushed, its anyone’s game in the world of wearable technology. In the past two years, we have wristbands that calculate sleep cycles, watches that turn into smart phones and eyeglasses that act as computers, all unifying the accessibility of fashion and advancement in electronics.
Its safe to say that the market of wearable technology has been found in the fitness industry. It started with step counter watches and has evolved into the stylish Nike Fuel band and many others, which measure not only your steps but also your total caloric burn. The utility of these devices are sought to measure your physical limits. But, do they really? Do they measure the quality, the effort, the speed, the over all work ethic the user is constantly exerting?
Atlas is a technology that is beyond its time. It measures and calculates live feedback that determines the type, speed and quality of your exercise. For example if I were to do a complete circuit training of 3 sets of 10 reps on 5 different stations, then proceed to take a minute long break, and work back into a 15 pushup 30 second jump rope exercise, Atlas would automatically record all of my work with out me having to press a button.
Using multiple sensors and advanced algorithms, Atlas is able to determine which exercise is which and calculate accurate results for your workout. Atlas allows you to instantly see your progress, and pushed you to your next level by showing you what works with your body.
Co-Founder and CEO Peter Li who was inspired by this project while attending Johns Hopkins
Co-Founder and CTO Mike Kasparian from Philips Healthcare and Boston University
Senior Software Developer Alex Hsieh a fellow student at Johns Hopkins who worked as a software engineer at Maxim Integrated Products.
Altas is running into a new and limitless emerging market of wearable device while also targeting the consumer interest in health and fitness. According to Juniper Research, the wearable technology market will it $1.4 billion this year, and is project to hit $19 billion by 2018. This huge spike is due to the heightened awareness in wearable technology thanks to Apple, Nike, Samsung, and Google. But its not safe to say that either of these companies dominate the market. Applie has yet to release a wearable device, Samsung’s smart watches are in their first generation, Nike isn’t even a tech company, and Google Glass is still being tested.
In my opinion I only see 3 competitors: Nike, FitBit and Jawbone.
Thanks to a recent SWOT Analysis by Moor Insights & Strategy we can fully determine that there is enough room to infiltrate this industry.
From the information above it is clear that although Nike, Jawbone, and FitBit are all well position in their market there is no clear domination of wearable technology in health and fitness. As we can also see above and as determined by the product itself Atlas is focusing on a very specfic and almost untouched market segment. Where as FitBit, Nike, and Jawbone are all fighting for the Lifestyle/Performance market with limited device capabilities (activities), Atlas is focusing on the performance market at the highest level of device capabilities (activities). It’s shown that Atlas will be almost in a league of their own as far as product design and functionality.
In my opinion I see a wide open market that is virtually limitless at this point. Right now people are turning their head and jumping on what ever is new, innovative, and different in the world of wearable technology. As far as health and fitness goes, I know that right now customers are blown away with what little they have, image what kind of surge the industry would take if Atlas is released. This is a product that takes your average Nike Fuel band and multiplies by ten. Instead of only measuring your steps and calories, you now have the power to measure your entire workout including time, reps and heart rate, giving you a full evaluation of what you’ve accomplished. For someone who takes fitness very seriously, Atlas is changing the game.
If you are an investor out there, or someone looking to have their mind blow check out Atlas on Fundable.
This article was written by Nick Warner of CrowdDistrict.