Executive Summary

Aug 2019
PROSPECTS
Multifunctional smart wearables records another year of strong growth

Smart wearables registered another year of strong retail volume growth as Australian consumers continued to embrace the trend for fitness tracking in 2019. Smart wearables offer a multitude of features in addition to fitness tracking however, with a wide range of apps and connectivity allowing consumers to perform daily tasks such as responding to messages, checking emails and making contactless payments.

Activity wearables supported by strong performance of analogue format

Activity wearables recorded a stronger performance in retail volume terms in 2019 compared to the previous year, supported by ongoing demand for the larger category of activity watch (digital) in addition to the continually impressive performance recorded by activity watch (analogue), which entered Australia in 2017. Australians’ love of being outdoors and taking part in various sporting activities has helped to support their increasing interest in utilising various health-related apps, while appreciating the activity tracking features available in different formats, although some have particularly been interested in retaining a classical look by purchasing traditional watches with activity tracking features including Fossil, leading to the stronger volume growth for analogue.

Activity bands continues to lose relevance with increasing demand for multifunctionality

With increasing interest in multifunctional device such as activity watches and smart wearables, demand for the more basic device of activity bands continued to decline in 2019. With activity bands only offering simple step counting for tracking activities such as running or walking, wearable electronics have continued to evolve to include a higher number of features other than activity tracking including seek modern designs, standard watch features, in addition to connectivity to mobile phones,.

COMPETITIVE LANDSCAPE
Apple retains dominance of smart wearables but Fitbit has first year of impressive retail volume growth

Apple strengthened its leadership of wearable electronics in Australia in 2019, due to its dominance of smart wearables with its Apple Watch continuing to record strong retail volume growth despite losing some share to Fitbit. Apple launched its new Watch Series 4 towards the end of 2018, and while it continued to dominate the category, the emergence of Fitbit in smart wearables in 2018 could be of concern to the leader.

Garmin retains leadership of activity wearables due to GPS accuracy

Garmin Australasia Pty Ltd retained its leadership of activity wearables in 2019, and despite recording positive retail volume growth, lost some ground to Fitbit. The latter appeared to be experiencing a late resurgence in this category after consistently losing sales and share over the review period in line with declining demand for activity band after the release of its Fitbit Inspire HR (with GPS) and Fitbit Charge 3, offering long battery life and waterproof capabilities.

Wearables electronics apps target female consumers

In an increasingly intensive competitive landscape, producers of activity wearables need to offer some level of differentiation in order to attract consumers’ attention. Garmin announced its intention to target females, with the release of the Garmin Connect app, which allows women to track their menstrual cycles following the release of similar technology by Fitbit in 2018 with its in-app female health-tracking feature for its Versa and Fitbit Ionic models.

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Wearable Electronics in Australia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Wearable Electronics industry in Australia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Wearable Electronics industry in Australia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Wearable Electronics in Australia market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Wearable Electronics in Australia?
  • What are the major brands in Australia?
  • What is the growth rate for Wearable Electronics in Australia?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Consumer Electronics market research database.

Wearable Electronics in Australia - Category analysis

HEADLINES

PROSPECTS

Multifunctional smart wearables records another year of strong growth
Activity wearables supported by strong performance of analogue format
Activity bands continues to lose relevance with increasing demand for multifunctionality

COMPETITIVE LANDSCAPE

Apple retains dominance of smart wearables but Fitbit has first year of impressive retail volume growth
Garmin retains leadership of activity wearables due to GPS accuracy
Wearables electronics apps target female consumers

CATEGORY DATA

Table 1 Sales of Wearable Electronics by Category: Volume 2014-2019
Table 2 Sales of Wearable Electronics by Category: Value 2014-2019
Table 3 Sales of Wearable Electronics by Category: % Volume Growth 2014-2019
Table 4 Sales of Wearable Electronics by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Wearable Electronics: % Volume 2015-2019
Table 6 LBN Brand Shares of Wearable Electronics: % Volume 2016-2019
Table 7 Distribution of Wearable Electronics by Channel: % Volume 2015-2019
Table 8 Forecast Sales of Wearable Electronics by Category: Volume 2019-2024
Table 9 Forecast Sales of Wearable Electronics by Category: Value 2019-2024
Table 10 Forecast Sales of Wearable Electronics by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Wearable Electronics by Category: % Value Growth 2019-2024

Consumer Electronics in Australia - Industry Overview

EXECUTIVE SUMMARY

Improved performance for consumer electronics with increasing adoption of innovative and smart technology
Fluctuating performance for smartphones
Apple retains leadership but loses ground in a number of categories
Store-based specialists continue to lose share to internet retailing
Positive performance predicted for consumer electronics with increasing adoption of smart devices

MARKET DATA

Table 12 Sales of Consumer Electronics by Category: Volume 2014-2019
Table 13 Sales of Consumer Electronics by Category: Value 2014-2019
Table 14 Sales of Consumer Electronics by Category: % Volume Growth 2014-2019
Table 15 Sales of Consumer Electronics by Category: % Value Growth 2014-2019
Table 16 NBO Company Shares of Consumer Electronics: % Volume 2015-2019
Table 17 LBN Brand Shares of Consumer Electronics: % Volume 2016-2019
Table 18 Distribution of Consumer Electronics by Channel: % Volume 2014-2019
Table 19 Forecast Sales of Consumer Electronics by Category: Volume 2019-2024
Table 20 Forecast Sales of Consumer Electronics by Category: Value 2019-2024
Table 21 Forecast Sales of Consumer Electronics by Category: % Volume Growth 2019-2024
Table 22 Forecast Sales of Consumer Electronics by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources