With only 4.6m wearable bands (technology worn on the wrist) shipped in 2014 and Apple going into production for 5-6 million units of the Apple Watch with sales projections of 10-15m for 2015, 9^th March 2015 was the day that Apple threw down the gauntlet for rival tech companies.

For our statistically-minded readers, these sales projections may seem miniscule compared to the smartphone sector with the iPhone moving 74.6m units in just the previous quarter. However, the Apple Watch isn’t about cash revenue, it’s about consumer adoption and whether Apple will be able to sell enough Watches to stimulate competition and reinvigorate the wearable tech market.

Ignoring the debates surrounding the technological merits of Apple’s products, purely as a business, Apple is in a tier of its own breathing life into new markets, and we only need to look at its successes with the iPod and iPhone to find evidence of this. Low sales of wearable bands therefore mean that many companies, including its rivals Samsung and Sony, are looking to Apple to catalyse the market for wearable tech. However, the question of consumer adoption remains to be seen so keep a close watch over the next 6-9 months for an indication of where the wearable tech sector is heading.

So what does a successful Apple Watch mean for law firms?

Obviously this will mean more work in relation to intellectual property rights, purchase agreements, dispute resolution, mergers, acquisitions etc, but that’s a generic answer. The key is to remember that law firms are businesses which invest in new areas to pursue their own commercial interests.

The tech sector has been booming and firms have opened offices in both Silicon Valley and our very own Silicon Roundabout. A successful establishment of the wearables market as part of the wider ‘Internet of Things’ will therefore prevent the tech bubble from bursting and protect these firms’ investments. We’ve seen the effects of the recession on most firms and, though the effects of a collapse of the tech market may be less generalised, law firms will certainly appreciate the fact that the bubble will not burst in the immediate future.

For more information, please do not hesitate to contact me.