Over the forecast period, the average unit price of products within wearable electronics will grow, mainly driven by digital smartwatches and smart wearables. This will be to the further loss of activity bands and analogue smartwatches, both of which will remain in decline.
Near Field Communication technology allows consumers to make contactless payments by pairing an electronic device such as a smartphone or a smartwatch with a Point-of-Sale reader. Contactless payments through smartphones are already fairly popular in Colombia, but the use of smartwatches for such transactions is still very underdeveloped.
A major attraction in smartwatches is their ability to monitor the user’s health. For example, the ability to track hours and cycles of sleep, measure the oxygen levels in the body, and also assess blood pressure.
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Understand the latest market trends and future growth opportunities for the Wearable Electronics industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Wearable Electronics industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Wearable Electronics
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 DefinitionsThis report originates from Passport, our Wearable Electronics research and analysis database.
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