Wearable Electronics in the US

2020 IMPACT

Race to predict illness supports ongoing dynamic performance of smart wearables

Wearable electronics remained the strongest performing consumer electronics category in the US going into 2020, as a continuation of a trend witnessed towards the end of the review period, and driven by the larger and more dynamic area of smart wearables. Despite the higher average cost of the latter compared to activity wearables, the ongoing development of smart wearables in terms of expanding usage occasions through features such as LTE wireless connectivity and capabilities have simplified users’ daily routines, in addition to targeting health and fitness tracking and even coaching.

Cheaper options and increasing competition help to expand wearable electronics

As wearable electronics have continued to grow in popularity, there have been countless new releases at various price points to pull in a wider range of consumers. Within smart wearables, leading players Apple Inc, Samsung Electronics America Inc, and Fitbit Inc all recorded double-retail volume growth in Q2 2020, with cheaper brands such as Fitbit and Garmin offering greater affordability and therefore accessibility to consumers.

Greater focus on health during pandemic boosts sales

With a full-blown pandemic underway in the US in 2020, local consumers have increasingly focused on their personal health. Wearable electronics can give users peace of mind regarding health concerns at this time.

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