Wearable Electronics in the US

PROSPECTS

Smart wearables prove their worth

In past years, smart watches failed to achieve the high growth expectations, because consumers did not view them as essential. They required tethering to a smartphone for full functionality, and a lack of compelling new uses meant that demand for products such as the Apple Watch was largely driven by tech fans and fitness enthusiasts.

Activity bands and activity watch (digital) decline

As with many other categories within consumer electronics, US consumers now view activity bands and activity watch (digital) as superfluous devices. Both achieved strong growth in their early years by attracting health and fitness enthusiasts, even inspiring step challenges between co-workers and groups of friends.

Activity Watch (analogue) finds growth through fashion appeal

Activity watch (analogue) saw the fastest growth within wearable electronics in 2018. Whilst still fairly new to the market, these devices appeal to consumers unimpressed by the design of other activity wearables and smart wearables.

COMPETITIVE LANDSCAPE

Manufacturers add features to wearable electronics

Whilst it was not the first smart wearables manufacturer to introduce LTE connectivity, Apple solidified the leadership of its Apple Watch by equipping the device with this feature. Other wearables manufacturers are also adding functionality to their products.

Retail channel updates

Internet retailing and electronics and appliance specialist retailers are the most popular retail channels for purchasing wearable electronics. Amongst the primary reasons for the success of these two channels is the need for consumers to be well-informed about all the capabilities of these products before making a purchase.

Wearables in the future of healthcare

Amongst the potential additional uses for wearable electronics, healthcare may present the most profitable opportunity. These devices, which are already effective at tracking exercise and other fitness activities, can also be useful in helping medical professionals and insurance companies keep track of users’ medical conditions.

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