Table of Contents
Overview
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- What you need to know
- Products covered in this Report
Executive Summary
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- The market
- Smartwatch sales set to overtake fitness trackers in 2018
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- Figure 1: Estimated unit sales of wrist-worn wearable devices, by product category, 2016-18
- Smartphone updates and rising usage driving wearable tech innovation
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- Figure 2: Ownership of smartphones, January 2012-September 2018
- Companies and brands
- Apple Watch 4 launched in September 2018
- Samsung launches new smartwatch under the Galaxy brand
- The consumer
- Smartwatch ownership expected to return to growth
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- Figure 3: Ownership of wearable devices, December 2016-September 2018
- Fitbit is the most popular brand in wrist-worn technology…
- …but the Apple Watch is the most popular among men
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- Figure 4: Wrist-worn device ownership, by brand, September 2018
- Over three in 10 people intend to buy wearable technology in the next year
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- Figure 5: Intent to buy wearable technology, September 2018
- Battery life is the biggest factor for those looking to buy wrist-worn devices
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- Figure 6: Important factors in boosting wrist-worn device ownership, September 2018
- Six in 10 owners use wrist-worn technology every day
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- Figure 7: Wrist-worn technology use, September 2018
- A quarter of smartwatch owners use it most often for exercise
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- Figure 8: Smartwatch activities, September 2018
- Health and wellness is the leading area of interest for wearable technology
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- Figure 9: Uses of wearable technology, September 2018
- Over seven in 10 feel wrist-worn technology has improved their physical health
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- Figure 10: Attitudes towards fitness tracking wearables, September 2018
- Seven in 10 still see smartwatches as too expensive
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- Figure 11: Attitudes towards smartwatches, September 2018
- Half of people prefer smartwatches from tech companies over fashion brands
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- Figure 12: Attitudes towards wearable technology, September 2018
- What we think
Issues and Insights
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- Wearables market can benefit from health focus and digital detox trend
- The facts
- The implications
- How far can the smartwatch market grow?
- The facts
- The implications
The Market – What You Need to Know
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- Smartwatch sales set to overtake fitness trackers in 2018
- Other wearable technology products remain niche markets
- Smartphone updates and rising usage driving wearable tech innovation
- Focus on health and fitness continues to drive interest in wearables
- Increasing choice of styles and brands for smartwatch shoppers
Market Size and Segmentation
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- Smartwatch sales set to overtake fitness trackers in 2018
- Other wearable technology products remain niche markets
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- Figure 13: Estimated unit sales of wrist-worn wearable devices, by product category, 2016-18
Market Drivers
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- Smartphone updates and rising usage driving wearable tech innovation
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- Figure 14: Ownership of smartphones, January 2012-September 2018
- Consumer electronics spending could be limited by import prices
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- Figure 15: Proportion of consumers who have bought electrical equipment in the last three months or plan to in the next three months, June 2012-July 2018
- Focus on health and fitness continues to drive interest in wearables
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- Figure 16: Fitness mobile app usage, July 2018
- Increasing choice of styles and brands for smartwatch shoppers
- Discounted models
Companies and Brands – What You Need to Know
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- Apple Watch 4 launched in September 2018
- Samsung launches new smartwatch under the Galaxy brand
- Gamin increasingly moving beyond sports and into the smartwatch market
- Fitbit expands smartwatch range with the Versa
- Snapchat releases updated range of Spectacles
Launch Activity and Innovation
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- Apple Watch 4 launched in September 2018
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- Figure 17: Apple Watch Series 4
- Samsung launches new smartwatch under the Galaxy brand
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- Figure 18: Samsung’s Galaxy Watch in three designs
- Gamin increasingly moving beyond sports and into the smartwatch market
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- Figure 19: Garmin’s Fenix 5S Plus, 5X Plus, and 5 Plus smartwatches
- Fitbit expands smartwatch range with the Versa
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- Figure 20: Fitbit’s Versa smartwatch
- Fashion labels look to offer more stylish smartwatches
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- Figure 21: Armani Exchange Connected range of smartwatches
- Snapchat releases updated range of Spectacles
- Oura ring offers constant wearable data collection
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- Figure 22: The Oura smart ring
- New launches in the smart clothing segment
The Consumer – What You Need to Know
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- Smartwatch ownership expected to return to growth
- Fitbit is the most popular brand in wrist-worn technology
- The Apple Watch is the most popular among men
- Over three in 10 people intend to buy wearable technology in the next year
- Men showing far higher intent to buy wearable technology
- Battery life is the biggest factor for those looking to buy wrist-worn devices
- Six in 10 owners use wrist-worn technology every day
- Health and wellness is the leading area of interest for wearable technology
- The majority feel wrist-worn technology has improved their physical health
- Seven in 10 still see smartwatches as too expensive
Wearable Technology Ownership
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- Smartwatch ownership expected to return to growth…
- …while wearable camera ownership stagnates
- The “hearables” segment is one to watch
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- Figure 23: Ownership of wearable devices, December 2016-September 2018
- Men much more likely to own smartwatches…
- …but peak ownership for all wrist-worn tech is among 25-34-year-olds
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- Figure 24: Wrist-worn technology ownership, by gender and age, September 2018
- Fitbit is the most popular brand in wrist-worn technology…
- …but the Apple Watch is the most popular among men
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- Figure 25: Wrist-worn device ownership, by brand, September 2018
Intent to Buy Wearable Technology
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- Over three in 10 people intend to buy wearable technology in the next year
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- Figure 26: Intent to buy wearable technology, September 2018
- One in 10 people are planning to buy in four or more wearable tech categories
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- Figure 27: Repertoire of intent to buy, September 2018
- Men showing far higher intent to buy
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- Figure 28: Intent to buy wearable technology, by gender, September 2018
- Battery life is the biggest factor for those looking to buy wrist-worn devices…
- …while four in 10 looking to buy want cellular service
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- Figure 29: Important factors in boosting wrist-worn device ownership, September 2018
- Strong battery life and cellular service together would motivate three in 10 people
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- Figure 30: TURF Analysis – Influential features of smartwatch/fitness band/sports watch, September 2018
Usage of Wearable Technology
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- Six in 10 owners use wrist-worn technology every day
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- Figure 31: Wrist-worn technology use, September 2018
- A quarter of smartwatch owners use it most often for exercise
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- Figure 32: Smartwatch activities, September 2018
- Health and wellness is the leading area of interest for wearable technology
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- Figure 33: Uses of wearable technology, September 2018
- Women are placing greater emphasis on wearable technology for health
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- Figure 34: Uses of wearable technology, by gender, September 2018
- Half of 25-34-year-olds would use wearable technology to monitor health
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- Figure 35: Uses of wearable technology, by age, September 2018
Attitudes towards Wearable Technology
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- Over seven in 10 feel wrist-worn technology has improved their physical health…
- …but this declines to just over half when it comes to mental health
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- Figure 36: Attitudes towards fitness tracking wearables, September 2018
- Seven in 10 still see smartwatches as too expensive
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- Figure 37: Attitudes towards smartwatches, September 2018
- Half of people prefer smartwatches from tech companies over fashion brands
- Four in 10 people aged 16-34 feel technology use is impacting mental health
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- Figure 38: Attitudes towards wearable technology, September 2018
Appendix – Data Sources, Abbreviations, and Supporting Information
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- Abbreviations
- Consumer research methodology
- TURF – Methodology
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- Figure 39: Table - TURF Analysis – Influential features of smartwatch/fitness band/sports watch, September 2018
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