Market research, data, reports, marketing insights and analytics, forecasts and intelligence covering a range of technology industries.Also consumers surveys, custom consulting and events.
Traditional Watches and Smartphones on a Collision Course
Smartwatches Market Analysis and Commentary
09 March 2015 - At both CES and MWC this year there was a clear design drive to make smartwatches look more like analogue watches in an effort to make them seem more accessible. LG and Huawei were some of the examples at MWC. The much- rumoured Huawei watch gives its users the choice of 40 dials on a 1.4" round Sapphire Crystal display. However, from the opposite direction we can now see traditional watches adding basic mobile connectivity. Guess Watches have partnered with Martian to design a 'boldly designed smartwatch' which was a hit at the MWC.
In the absence of one killer application, vendors are throwing all the features from a smartphone in to the watches to see what sticks. This is having obvious effects on the size, aesthetics and the battery life of the smartwatches. But, compared to other wearable solutions, smartwatches benefit from being generally unobtrusive, they have low barriers for consumer acceptance, are secure, and can be worn 24/7 in any location. Today, vendors and service providers can be seen presenting the watches in credible and serious roles such as; health and fitness tracking, assisted living, mobile payments and interfacing with connected cars and smartphones.
Futuresource estimate that a little over 6.1 million smartwatches were sold in 2014, and we have a market tracker to smartwatch data to track the progress of these products over the coming years. With Apple's release of Apple Watch this market is certainly expected to accelerate rapidly. Today (Monday 9th March) will see Apple announcing the price of the watch, which will have some bearing on volume shipments for 2015. Product availability is said to be on course for April 2015.
Futuresource also expect the mid-range watch market ($100-$500 at retail) to be affected more than most - representing approximately one-third of watch volume sales. This is based on the price positioning of smartwatches in the current market, where Apple Watch is projected to be positioned together with competing watch brands such as Swatch, Fossil and Tissot.
Smartwatches are not (yet) attempting to compete in the super-luxury end of the market, from Rolex upwards in price-terms (Brietling, Beume & Mercier, Breguet, etc). Of which we would assume this market has significantly more challenges to gain acceptance, and is relatively tiny in volume terms.
For further information or to purchase the report, please visit www.futuresource-consulting.com
Futuresource Consulting is a specialist research and knowledge-based consulting company, providing organisations with insight into consumer electronics, digital imaging, entertainment media, broadcast, storage media, education technology and IT. With a heritage stretching back to the 1980s, the company delivers in-depth analysis and forecasts on a global scale, advising on strategic positioning, market trends, competitive forces and technological developments. www.futuresource-consulting.com
Authorised use of information All information provided by Futuresource in any form is proprietary information that belongs to Futuresource and is protected by UK and international copyright law. Except as outlined below, direct or indirect reproduction of information, in whole or in part and by any means, is prohibited without the express written consent of Futuresource.
Members of the press may use a press release in its entirety or take segments from it as necessary; they may also use a graph, a slide, or a section of a supplied research report less than fifty words long, provided all text is identified as "Source: Futuresource Consulting" and all graphics are credited with "Futuresource Consulting, copyright 2016".
Futuresource Media Contact for industry comment, forecasting and trends: