Software developer Microsoft Corporation (MSFT) recently launched Microsoft Health, its health application and Microsoft Band, its long rumored wearable health and fitness device.
Microsoft Health includes a cloud service for customers to store and put together health and fitness data from various sources to create a more insightful picture. Microsoft Health is not just platform specific but is available as a smart device application too. The app is available for free on Windows Phone, Apple’s (AAPL) iOS and Google’s (GOOGL) Android.
Microsoft Health will also collaborate with UP by Jawbone, MapMyFitness, MyFitnessPal and RunKeep. Taking all these into account, Microsoft Health will enable the software developer to effectively compete against recently-launched health platforms from Google, Samsung and Apple.
With Microsoft Band, the company is getting into quite a crowded market. It is a wearable designed to complement Microsoft Health and mostly consists of features of a fitness tracker. The tracker comprises 10 smart sensors, which will allow consumers to trace their fitness and exercise regime by monitoring their pulse rate, measure the calories burnt and track sleep quality. Microsoft’s voice-activated personal assistant Cortana has also been integrated into the device. The wrist-worn device is available in the U.S. for $199 from the Microsoft store.
The wearables market offers products ranging from smart glasses to fitness bands and watches. These gadgets appeal to consumers as smart fashion accessories. Though currently at a nascent stage, this market is expected to have radical implications for a number of sectors, like fitness, health care, medical, industrial and military.
A growing number of technology giants, including Google and Apple, are betting high on this market’s potential and are developing wearable technology products. Google has already started selling a more fashionable variety of its Glass. Apple unveiled its smartwatch in September although the device will not ship until next year.
The intense competition can be a major headwind for Microsoft’s success in the wearables space.
Microsoft shares carry a Zacks Rank #3 (Hold). A better-ranked technology stock to consider at this time is Adobe Systems (ADBE), which carries a Zacks Rank #2 (Buy).
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