Table of Contents
Executive Summary
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- The market
- Smartwatches driving strong growth in wrist-worn wearables market
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- Figure 1: Estimated unit sales of wrist-worn wearable devices, by product category, 2016-19
- More manufacturers offering smart earbuds amid growing consumer interest
- Concerns over privacy could hold back sales of new connected wearables
- Google acquires Fitbit for $2.1 billion
- Companies and brands
- Amazon unveils Alexa-supported ring and glasses
- Nubia releases ‘wearable phone’ smartwatch called Nubia Alpha
- The consumer
- Growth in all wearables particularly smart earbuds
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- Figure 2: Ownership of wearable devices, September 2018 and August 2019
- Significant increase in intent to purchase wearables
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- Figure 3: Intent to purchase wearables in next year, September 2018 and August 2019
- Interest grows in using wearables for payments, security and IoT
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- Figure 4: Functions of smart wearables, August 2019
- Apple leads smartwatch market
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- Figure 5: Brand of smartwatch, August 2019
- Fitbit dominates sports watches industry
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- Figure 6: Brand of fitness bands/sports watches, August 2019
- Increase in frequency of use of wearables
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- Figure 7: Frequency of use of smartwatch, sports watch or fitness tracker, September 2018 and August 2019
- Social media use on smartwatches rises significantly
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- Figure 8: Most popular activities on smartwatch, September 2018 and August 2019
- Almost two thirds of smartwatches connected to a network provider
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- Figure 9: Smartwatch cellular connectivity, August 2019
- Consumers still see smartwatches as too expensive and less stylish than normal watches
- Millennials most likely to value battery life in a smartwatch
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- Figure 10: Opinions on smartwatch stylishness, battery life and cost, August 2019
- What we think
Issues and Insights
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- Opportunity to offer deep app integration with smart earbuds
- The facts
- The implications
- Extending the smart functionality of fitness trackers is likely to appeal
- The facts
- The implications
The Market – What You Need to Know
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- Smartwatches driving strong growth in wrist-worn wearables market
- More manufacturers offering smart earbuds amid growing consumer interest
- Concerns over privacy could hold back sales of new connected wearables
- Manufacturers increasingly blurring the lines between fitness tracker and sports watch
- Google acquires Fitbit for $2.1 billion
Market Size and Segmentation
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- Smartwatches drive strong growth in wrist-worn wearables market
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- Figure 11: Estimated unit sales of wrist-worn wearable devices, by product category, 2016-19
- Manufacturers increasingly blurring the lines between fitness tracker and sports watch
Market Drivers
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- More manufacturers offering smart earbuds amid growing consumer interest
- Concerns over privacy could hold back sales of new connected wearables
- Wearables to benefit from increasing number of consumers with connected home devices
- Google acquires Fitbit for $2.1 billion
Companies and Brands – What You Need to Know
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- Tech giants including Google and Amazon enter smart earbuds market
- Amazon unveils Alexa-supported ring and glasses
- Apple releases second-generation AirPods and Apple Watch Series 5
- Snapchat announces upcoming Spectacles 3 with 3D cameras
- Samsung unveils new smartwatches and fitness trackers including Galaxy Watch Active
- Nubia releases ‘wearable phone’ smartwatch called Nubia Alpha
Launch Activity and Innovation
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- Tech giants including Google and Amazon enter smart earbuds market
- Galaxy Buds
- Microsoft Surface Earbuds
- Powerbeats Pro
- Amazon Echo Buds
- Google Pixel Buds
- Amazon unveils Alexa-supported ring and glasses
- Consumers may be more receptive to Amazon’s approach to smart glasses
- Google announces Google Glass Enterprise Edition 2
- Apple releases second-generation AirPods and Apple Watch Series 5
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- Figure 12: ‘Hey Siri’ functionality on Apple’s second-generation AirPods
- Snapchat announces upcoming Spectacles 3 with 3D cameras
- Samsung unveils new smartwatches and fitness trackers including Galaxy Watch Active
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- Figure 13: Samsung Galaxy Watch Active, Galaxy Fit, Galaxy Fit e and Galaxy Buds
- Nubia releases ‘wearable phone’ smartwatch called Nubia Alpha
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- Figure 14: Nubia Alpha
- Nubia Alpha presents possible future for smartwatches
The Consumer – What You Need to Know
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- Growth in all wearables particularly smart earbuds
- Significant increase in intent to purchase wearables
- Interest grows in using wearables for payments, security and IoT
- Apple leads smartwatch market
- Fitbit dominates sports watches industry
- Increase in frequency of use of wearables
- Social media use on smartwatches rises significantly
- Almost two thirds of smartwatches connected to a network provider
- Consumers still see smartwatches as too expensive and less stylish than normal watches
- Millennials most likely to value battery life in a smartwatch
Ownership of Wearable Devices
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- Growth in all wearables but particularly smart earbuds
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- Figure 15: Ownership of wearables, August 2019
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- Figure 16: Ownership of wearable devices, September 2018 and August 2019
Intent to Purchase Wearable Devices
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- Significant increase in intent to purchase wearables
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- Figure 17: Intent to purchase wearables in next year, August 2019
- Figure 18: Intent to purchase wearables in next year, September 2018 and August 2019
- Almost half of Generation Z intends to buy smart earbuds
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- Figure 19: Generation Z and Millennials’ intent to purchase wearables, August 2019
- Most consumers currently disinterested in smart glasses
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- Figure 20: Interest in purchasing smart glasses in the future, August 2019
- Consumers most likely to be interested in using smart glasses for pictures
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- Figure 21: Use cases of smart glasses, August 2019
Potential Use of Wearable Devices
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- Interest grows in using wearables for payments, security and IoT
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- Figure 22: Functions of smart wearables, September 2018 and August 2019
- Generation Z driving interest in contactless payments via wearables
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- Figure 23: Interest in mobile payments, by generation, August 2019
Brand and Source of Purchase for Wrist-Worn Wearable
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- Apple leads smartwatch market
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- Figure 24: Brand of smartwatch, August 2019
- Fitbit dominates sports watches industry
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- Figure 25: Brand of fitness bands/sports watches, August 2019
- Older Millennials most likely to have bought their smartwatch or sports watch themselves
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- Figure 26: Acquisition of smartwatch, sports watch or fitness tracker, August 2019
- Consumers most likely to purchase via an online retailer
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- Figure 27: Location of purchase for smartwatch, sports watch or fitness tracker, August 2019
Use of Smartwatches and Fitness Bands
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- More consumers using their wrist-worn wearables frequently
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- Figure 28: Frequency of use of smartwatch, sports watch or fitness tracker, September 2018 and August 2019
- Social media use on smartwatch rises significantly
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- Figure 29: Most popular activities on smartwatch, September 2018 and August 2019
- Almost two thirds of smartwatches connected to a network provider
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- Figure 30: Smartwatch cellular connectivity, August 2019
Attitudes towards Smartwatches
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- Consumers still see smartwatches as too expensive
- Six in 10 think normal watches are more stylish
- Millennials most likely to value battery life in a smartwatch
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- Figure 31: Opinions on smartwatch stylishness, battery life and cost, August 2019
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Consumer research methodology
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