New York—Two recent surveys found Americans are increasingly fond of smart wearables, such as smartwatches. In fact, the wearable technology is emerging into the mainstream, not just geeky early adopters.
According to eMarketer, “The next several years will continue to see double-digit growth in the number of Americans using wearable devices. In 2015, 39.5 million US adults 18 and over will use wearables, including smartwatches and fitness trackers. That’s a jump of 57.7% over 2014. While penetration among US adults is just 16% this year, eMarketer expects that to double by 2018, to 81.7 million users.”
Baby Boomers to Drive Business?
Not surprisingly the Millennials are most fond of wearables. In 2015, 25.1% of Internet users between 25 and 34 and 23.1% of those between 35 and 44 will use one. By 2018, 49.9% of 25- to 34-year-old Internet users and 47.0% of 35- to 44-year-old Internet users will use a wearable device, eMarketer said.
Long-term, older Americans are expected to be a bigger growth driver, as more wearable health monitoring devices hit the market. Throughout the forecast period, US adults 65 and older will see the biggest growth rates every year for wearable adoption.
In its study, Jupiter Research reported that despite the emergence of fashion-oriented smartwatches and jewelry, Tech brands are still considered the best for wearables, fashion and sports brands lag behind. (In fact, no fashion or sports brand was supported by more than 3%).
Smartwatch market moving towards a duopoly of Apple-Samsung – with over 75% of respondents preferring either Apple or Samsung. Consumers also expect their smart gadgets to be affordable: Only 1 in 5 consumers would be willing to pay more than $175 for a wearable of any sort, Jupiter found.
With the growth in Fitbit in 2014, the market was primarily dominated by women But as smartwatches take off in 2015 and 2016, eMarketer expects devices to skew male. In 2015, 19.3% of male internet users will use a wearable device, compared with 18.2% of female internet users. In 2017, eMarketer expects females to once again overtake men in terms of number of users—34.1% of women internet users compared with 33.9% of males. The decreasing price of wearables will play a key role in driving more women to buy them.
“The consensus among the experts we consulted was that advertising will not appear in volume on wearables until one or more of the devices attains significant market share, which makes sense considering scale is a critical aspect of digital advertising,” says eMarketer senior analyst Cathy Boyle.
Coolest Wearable Brand Ranking – Q3 2015 from Jupiter
|1. Apple||8. UnderArmour||15. Adidas|
|9. TAG Heuer||16. Omega|
|3. Google||10. Ralph Lauren||17. Breitling|
|4. LG||11. G-Shock||18. Huawei|
|5. Sony||12. Chanel||19. Garmin|
|6. Nike||13. Microsoft||20. Pebble|
|7. Rolex||14. Motorola||21. Xiaomi|