Following the excitement and hype surrounding wearables in 2014-2016, when the products were predicted to reshape the way consumers integrate electronics into their lives, the sheen wore off from 2017, with volume growth rates slowing significantly since then in activity bands and activity watch (digital). Activity bands lost out to more sophisticated wearable products and smartphones, while activity watch (digital) no longer grew so strongly as consumers increasingly demanded more features and functionalities beyond fitness-specific features.
With the increasingly digital and mobile lifestyle in Germany – although still a few years behind many other developed countries – the way consumers make payments is also shifting, from cash to card payments and electronic direct debit to credit card for online payments. This shifting behaviour also offers potential for making payments with wearable devices.
A few years prior to 2019, the capabilities of activity wearables were still rather limited, functioning mainly as fitness trackers. Smart wearable features for tracking the heartbeat or sleep rhythm was also still relatively inaccurate.
Apple has a comfortable lead in smart wearables in Germany, although its volume share declined in 2019 due to the stronger threat posed by Samsung. As was usually the case for Apple when it tapped into new industries, it was able to use its big and loyal customer base as a competitive advantage.
Even though wearables can be considered as a still rather young category, it was already flooded with a wide variety of products and different price segments by 2019. Apple is covering the premium segment, while in the middle-priced segment there is more competition for share among different companies with different strategies.
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Discover the latest market trends and uncover sources of future market growth for the Wearable Electronics industry in Germany with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Electronics market research database.