Founded in 2011, Ubimax is the global market leader for Enterprise Wearable Computing and Augmented Reality Solutions. As a one-stop-shop, Ubimax provides an all-in-one solution– Augmented Reality software, Wearable Computing devices, configuration and deployment services, as well as support. The company has built up a very strong partner ecosystem with more than 200 enterprises around the globe including Germany, the US and Mexico.
We approached the renowned CEO, Dr. Hendrik Witt for an interview about the glorious and successful journey of Ubimax throughout:
Q: Brief us about your company, its inception, and journey.
A: Our company started out like a fair number of start-ups: A bunch of people having spent some years in strategy and management consulting with a joint vision working on their business idea in a small room almost around the clock. But we know what we were working on was worth it: Improving industrial processes with the help of wearables and augmented reality, enhancing deskless workers, so they can reach their full potential.
Q: Tell us about the Founder/CEO of your company, his ambitions, and philosophy.
A: Before Ubimax, I was working in the field of wearable computing already. My background of now more than 15 years in wearable technology for enterprises, does not only consist of PhD from the University of Bremen and Georgia Tech, where I was working with the wearables pioneer Thad Starner, but also from being the Co-Head in the EU-funded research project ‘wear IT at work’. From then on it was the goal to mature the technology to be able to meet the market’s needs and make it profitable. Ubimax’s roots lie in a strong team of the three founders Percy Stocker, Jan Junker and Dr. Hendrik Witt. We met during our strategy and management consulting time and realized they had fun working together and pursuing the same ideals. Shortly after the founding, Ubimax became the global market leader for industrial augmented reality-based wearable computing solutions creating digital tools for real world problems. While Percy has taken over as President of Ubimax Inc. in the US, Jan is leading the commercial activities as CCO and I have taken over the role of CEO.
Wearable Computing MarketThe global wearable computing market is expected to grow at a CAGR of 15% and attain USD 35 Bn by the end of the forecast period of 2017–2023, as per a research report published by Market Research Future (MRFR).
The market is set to expand rapidly and gain prominence over the years.
Wearable computing technology is largely being used in fitness wellness and life-tracking applications such as smart sports glasses, activity monitors and sleep monitors which is gaining popularity among consumers who are keen on tracking man aspects of their lives.
Wearable computing has the ability to make health care more efficient by facilitating virtual monitoring service for chronic diseases and is finding fast adoption in the healthcare sector.
Novel developments are being added to the healthcare sector with the help of wearable computing technology such as digital medicines which is expected to bolster the growth of the market.
Extensive smartphone adoption is a factor which is likely to increase the chances of buying wearable computing devices that are tethered to those phones.
The growth sectors of the Wearable Computing Industry are identified with precision for a better growth perspective.The global wearable computing market was analyzed by Market Research Future (MRFR) and it was projected that a striking CAGR of 15% will be attained by the market over the forecast period of 2017 to 2023.
The valuation of the wearable computing market was further stated to surpass its previous figure to reach an estimated valuation of USD 35 Billion by 2023.The global market is experiencing a surging growth due to the increasing adoption of wristbands and smart watches among consumers.
Add to this, there is a burgeoning interest for networking, communication and recognition technologies for wearable products, thereby driving the global wearable computing market.
However, the high consumption rate of power and limited use of battery life can pose to be a challenge to the potential growth of the market over the forecast period.Market SegmentationThe global wearable computing market has been segmented in terms of product, end-user, and technology.By technology, the market segments into networking technologies, display technologies, and other technologies.
The networking technologies is narrowed down into Wi-Fi and Bluetooth, while the display technologies is broken down into augmented reality and virtual realityBy product, the market comprises activity monitoring device, smart clothing and textiles, wearable camera and virtual reality eyewear.By end-user, the market includes fitness & wellness, defense & security, medical & healthcare, infotainment, gaming, automation, home enterprise & industrial, and other applications.Healthcare & medical and fitness & wellness are expected to have a significant growth over the next few years.
The region currently leads the global market and is expected to remain the same in the coming years.
