Table of Contents
Executive Summary
-
- Impact of COVID-19 on wearable technology
-
- Figure 1: Short-, medium- and long-term impact of COVID-19 on wearable technology, 4 November 2020
- The market
- Marginal growth for smartwatches and fitness trackers market
-
- Figure 2: Estimated unit sales for smartwatches and fitness trackers, 2016-20
- Figure 3: Market forecast for unit sales of smartwatches and fitness trackers, 2020-25
- Smart glasses to gain greater prominence after investment from tech giants
- COVID-19 causes greater focus on the use of smartwatches during exercise
- Companies and brands
- Facebook to launch smart glasses in 2021
- Apple updates watch line-up with Series 6 and SE
- Samsung announces Galaxy Watch3 and Galaxy Buds Live
- The consumer
- Smart earbuds remain the fastest-growing wearable technology product
-
- Figure 4: Personal ownership of wearable technology devices, August 2019 – September 2020
- Almost half of smartwatch owners have an Apple Watch
- Fitbit controlling market share for fitness bands
-
- Figure 5: Brand of smartwatch owned, September 2020
- Figure 6: Brand of fitness band/sports watch owned, September 2020
- Almost six in 10 smartwatch owners use it to track exercise
-
- Figure 7: Activities performed most often on smartwatches, September 2020
- Gesture controls can open up more possibilities for smartwatches
-
- Figure 8: Preference for using gesture controls on a smartwatch, September 2020
- Over half of smartwatch owners more likely to use contactless payments due to COVID-19
-
- Figure 9: Attitudes towards contactless payments on smartwatches, September 2020
- Apple can make its AirPods smarter and extend its lead
-
- Figure 10: Brand of smart earbuds owned, September 2020
- Amazon Echo Buds are in a strong position to succeed but privacy is a concern
-
- Figure 11: Use cases for smart earbuds, September 2020
-
- Figure 12: Privacy concerns influencing choice of wearable technology brand, September 2020
- Smaller earbud brands can benefit from fast-charging technology
-
- Figure 13: Most important aspects of smart earbuds, September 2020
- Concerns over COVID-19 could also provide added incentive to buy smart jewellery
- Privacy-focused smart-glasses brands to be most successful at this stage
- Brands can appeal to Generation X with fitness-based smart clothing
-
- Figure 14: Interest in smart glasses and attitudes towards smart clothing, September 2020
Issues and Insights
-
- How COVID-19 is shaping the wearable technology market
- Smartwatches to reduce stress during COVID-19
- Contactless payments on smartwatches
- Voice assistants could increase the appeal of smart jewellery
- AI advances mean new opportunities to increase the appeal of smart earbuds
The Market – Key Takeaways
-
- Marginal growth in value of wrist-worn wearables
- Google could re-enter consumer smart-glasses market
Market Size and Segmentation
-
- Impact of COVID-19 on wearable technology
-
- Figure 15: Short-, medium- and long-term impact of COVID-19 on wearable technology, 4 November 2020
- Marginal growth in value of market for smartwatches and fitness trackers
-
- Figure 16: Estimated unit sales for smartwatches and fitness trackers, 2016-20
- Figure 17: Market forecast for unit sales of smartwatches and fitness trackers, 2020-25
Market Drivers
-
- Smart glasses to gain greater prominence after investment from tech giants
- Google buys AR smart-glasses firm North
- Facebook and EssilorLuxottica glasses arriving next year
- Snapchat Spectacles 3
- Concerns over security could be a key differentiator in consumers’ brand choice
- COVID-19 causes greater focus on the use of smartwatches during exercise
Companies and Brands – Key Takeaways
-
- Deeper health features in smartwatches
- Social networks investing in smart glasses
Launch Activity and Innovation
-
- Facebook to launch smart glasses in 2021
- Apple announces premium smart earbuds in AirPods Pro
- Watch OS feature tracks handwashing amid COVID-19
- Apple updates watch line-up with Series 6 and SE
- Samsung announces Galaxy Watch3 and Galaxy Buds Live
- Influence of Younger Millennials
- Fitbit unveils Charge 4 with integrated GPS tracking
- Samsonite launches Konnect-i smart backpack
- Adidas releases GMR product to track football performance
The Consumer – Key Takeaways
-
- Smart earbuds thriving with voice assistants gaining prominence
- COVID-19 linked to consumers’ increased usage of smartwatches during exercise
- COVID-19 also provides more motivation to use contactless payments on wearables
Impact of COVID-19 on Consumer Behaviour
-
- Over half of smartwatch owners more likely to use contactless payments due to COVID-19
-
- Figure 18: Attitudes towards contactless payments on smartwatches, September 2020
- Concerns over COVID-19 could also provide added incentive to buy smart jewellery
-
- Figure 19: Voice assistants as a purchase motivator for smart jewellery, September 2020
Ownership of Wearable Technology
-
- Smart earbuds continue as fastest-growing wearable technology item
- AR-based games could help to boost smart-glasses market in long term
-
- Figure 20: Personal ownership of wearable technology devices, August 2019 – September 2020
- Almost half of smartwatch owners have an Apple Watch
-
- Figure 21: Brand of smartwatch owned, September 2020
- Fitbit controlling market share for fitness bands
-
- Figure 22: Brand of fitness band/sports watch owned, September 2020
Activities Done on Smartwatches
-
- Almost six in 10 smartwatch owners use it to track exercise
- Deeper insights into the impact of specific workouts on stress
-
- Figure 23: Activities of greater priority since COVID-19, November 2020
-
- Figure 24: Activities performed most often on smartwatches, September 2020
- Gesture controls can open up more possibilities for smartwatches
-
- Figure 25: Interest in using gesture controls on a smartwatch, September 2020
Brands Ownership and Usage of Smart Earbuds
-
- Apple can make its AirPods smarter and extend its lead
-
- Figure 26: Brand of smart earbuds owned, September 2020
- Amazon Echo Buds are in a strong position to succeed but privacy is a concern
-
- Figure 27: Use cases for smart earbuds, September 2020
-
- Figure 28: Privacy concerns influencing choice of wearable technology brand, September 2020
- Smaller earbud brands can benefit from fast-charging technology
-
- Figure 29: Most important aspects of smart earbuds, September 2020
Attitudes Towards Wearable Technology
-
- Privacy-focused smart-glasses brands to be most successful at this stage
- Brands can appeal to Generation X with fitness-based smart clothing
-
- Figure 30: Interest in smart glasses and attitudes towards smart clothing, September 2020
Appendix – Data Sources, Abbreviations and Supporting Information
-
- Abbreviations
- Consumer research methodology
Back to top