Although wearable electronics is a relatively new category, the development of the category has now moved beyond the novelty phase and consumers are starting to accept these devices as a natural part of the consumer electronics ecosystem. Activity bands and smart wearables in particular have become part of the lives of many consumers as they offer genuine value in terms of helping consumers to analyse their daily activities and sleep patterns.
Navigation has become one of the most in-demand and useful of functions offered by smart wearables. Recent months have seen significant developments in the navigation features included in smart wearables and many of these devices now come with gyroscopes, compasses, accelerometers and motion trackers installed.
Wearable electronics is slated for a very positive performance over the forecast period and this sales growth is set to be based on improved functionality as smartwatches, in particular, become increasingly intelligent and thus increasingly useful. In addition to functions which are already popular among users of wearable electronics such as monitoring daily activity and keeping health records, wearable devices such as smartwatches are slated to offer constantly updated information in more useable form, including determining blood glucose levels, monitoring stress level and managing a very wide range of other internet of things devices.
South Korea-based multinational electronics company Samsung remained the leading player in smart wearables in 2019. The company’s strong position can be attributed to its advanced products, which offer a wide range of useful functions and features while being priced well below rival products from brands such as Apple.
Apple remains the most innovative player in smart wearables with its Apple Watch brand, which continues to surprise and excite with a range of new functions and features with every new generation. According to trade sources, Apple has already sold more watches than the entire Swiss watch industry.
2019 saw Garmin launch its MARQ series of wearable electronics devices. These have been designed and engineered for enthusiasts of flying, racing, sailing, exploring and adventure sports generally, promising numerous features which can help users to manage and improve their performance in these pursuits.
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This industry report originates from Passport, our Consumer Electronics market research database.