Wearable electronics is expected to continue to see solid single-digit retail volume growth in the forecast period, although smart wearables is the only category set to see growth, with digital activity watches projected to see a fairly static performance. The continuous replacement of activity bands with more sophisticated and increasingly affordable wearable electronics will have a positive impact on prices and value growth.
Activity bands is expected to maintain its declining path in volume terms in the forecast period, as consumers switch to more sophisticated products and search for options with added functions, better design, and higher quality, which can now be found at more affordable prices. Most of the recent entrants in the market, such as Xiaomi, have contributed to category democratisation, by offering good-quality products at affordable prices in activity watches, but also in smart wearables.
Although smartwatches currently dominates smart wearables, other types of smart wearables, including smart glasses and smart rings, have recently been introduced globally, and could enter Chile soon, given its open market policy and its “test market” status in Latin America. Even though smart glasses are cutting-edge technology, it is not anticipated that they will become wildly popular during the forecast period, because they are still in the development stage, and many non-users are reluctant to use them due to privacy concerns.
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Understand the latest market trends and future growth opportunities for the Wearable Electronics industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Electronic devices designed to be worn by the user, typically on the wrist or head. The category only covers products designed for retail sale and consumer usage. Products designed for use in medical, military and any other profession such as diving are excluded.See All of Our Definitions
This report originates from Passport, our Wearable Electronics research and analysis database.
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