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The smartwatch market has continued to grow in the past year, albeit at a slightly slower rate, with a 4 percent increase in ownership over the past 12 months. That is slightly higher than we were originally expecting, thanks to more aggressive sales promotions from an array of manufacturers. However, we expect growth to slow further in the next couple of years.
The week when:
- Evie Ring is finally launching
The quarterly Wearable Marketplace report provides a detailed listing of the latest consumer wearable products that are in market, or expected to launch soon. The report tracks a wide variety of wearable product metrics and also provides useful infographics on the various wearable devices and device categories.
The week when:
- Pixel 2 delivers
- Apple Watch discounts
As seen in our Fall 2023 Wearables Ownership Report, smartwatches have achieved 42 percent adoption among US consumers, which is 3 percentage points higher than six months prior, despite a decline in year-over-year sales. Activity tracker ownership is lower – 31% - and beginning to decline, with over one-third of tracker owners planning to upgrade to a smartwatch in the next six months.
The Wearables Profile Report provides a side-by-side view of different consumer profiles, offering an easy way to view differences among the consumer base. The report leverages the same data as the Ownership and Usage reports.
New for this version of the report is a drop down menu of “shopping habits” which allows you to view ownership based on the types of stores that consumers frequent.
The current economic environment continues to put pressure on the wearables market, which is seeing slower sales than in previous years. Indeed, the past three quarters (Q4 2022 onwards) are all significantly below sales in the same period one year ago for smartwatches. And we expect Q3 also struggle compared to the previous year. But while sales are lower, we have still seen more than 10 million new smartwatches enter the US consumer market and this has driven the smartwatch ownership number up by 3.5% points. As a result, 42% of US consumers now wear a smartwatch.
The week when:
- Chipsets and gestures
The week when:
- Apple Week; a Google Opportunity
- Garmin Updates the Venu and Encourages Nap Time
The week when Samsung launches Galaxy Watch 6