2015 has been the year for flourishing and emerging wearable market. From smartwatches to fitness bands etc, we have many different products which were impossible to imagine just a year before. With this market completely thriving and prosperous, the prospect of more products with innovative technology is not hard to believe.
With the above in mind, various analysis and reports are being presented by the concerned analyst highlighting the importance and increasing monetary value of wearable market. With 2015 about to end we can already guess that we will have an insight for this industry for upcoming years.
As per the report by CSS Insight, the current value of wearable market which is about $12 million is going to shot up in 2019 to nearly $25 billion. Also by he end of this year, the shipments for 2015 will be around 84 million units. At the first place, it is not astonishing to know that the wearable market has managed to bag $12 billion for this year. With more people interested in relying on such products for their daily life, more companies with more finance are jumping in this area.
The CSS report surveyed about 3000 consumers in the US, UK and China. The report presents that the awareness for smart watches has increased among people. Those who are not buying still search and look into different watches.
The total percentage increase in the smart watch side is about 10% when compared to 2014’s report which was published in the holiday season (Christmas) the previous year. Also the awareness for the new smart watches have increased with 90 per cent of people having heard of the new product category, up from 80 per cent in 2014.
Most popular among the smart watches is the Apple Watch. Most of the people know about Apple Watch even if they can’t afford to buy. The Cupertino watch is about 2.5 times more famous and known than its competitors like Moto 360, Sony Wena and the Samsung Gear etc.
When it comes to the fitness bands, Fitbit stood clearly on the top alone. More and more people are buying this band and liking it, even a lot of time has passed after its release. Fitbit’s management spread the awareness of its band more this year. The popularity of the band tripled when compared with the fame of 2015. Also, it is the Fitbit Flex which paved the way for other companies to jump into wearable fitness bands sector.
About 35% of the fitness bands were exchanged as gifts during the Christmas season, 2014 in the areas of US and UK. This percentage is the major basis of the sales proportion for this year.
These sales and figures are for the year passed. What remains to be seen is that; with Christmas in pipeline and the demand of the products increasing, we are going to see the significant boom in sales figure and the popularity of the wearables.
We will keep you updated as soon as we get the figures of the total sales rate of the wearable market by the end of this year. Stay with us!