Smartwatches and wearables have created an interesting opportunity for the integration of technology and fashion.
San Diego, California (PRWEB) June 30, 2014
A disrupter of today’s smart devices, voice controlled, sensor-fused and cloud connected smartwatches will replace the application needs of many smart phone users, according to global technology research firm ON World.
“Smartwatches and wearables have created an interesting opportunity for the integration of technology and fashion and this will drive women into the role of early adopters,” says Mareca Hatler, ON World’s research director. “Another important consideration going forward will be how wearable sensor data is monetized through cloud networks.”
ON World’s survey with 1,000 U.S. online consumers found that smartwatches are the most likely wearable technology product they will purchase and 55% prefer a wristband over other form factors. Fitness is the most preferred wearable application and 38% of likely adopters would like to use their wearable technology for health applications.
ON World’s consumer survey found that Apple’s iWatch is the most preferred smartwatch offering even though it is not yet available. The top five smartwatch market leaders in 2013 were Samsung, Nike, Pebble, Sony and Garmin with numerous new entrants in 2014 including LG, Motorola and Nissan who are joining dozens of existing competitors.
Price will be the deciding factor for many consumers. ON World’s survey found that 40% would be willing to pay $99 or more for a smartwatch that had integrated blood pressure, heart rate and activity tracking sensors and 8% would be willing to spend $299 or more.
Although smartwatches only make up 3% of the 70,000 product reviews on wearable technologies that ON World evaluated, the growth rate increased by 763% in 2013 from 2012. By the end of 2018, 330 million smartwatches will have been shipped worldwide, up from less than 4 million in 2013.
ON World recently published report, Mobile Sensing Wearables, may be purchased separately or as part of a report set that also includes a survey on wearable technologies with 1,000+ consumers. More information is available from: http://www.onworld.com/wearables
About ON World:
ON World (http://www.onworld.com) provides global business intelligence on smart technology markets. For the past decade, our market research and information services have been sold to Fortune 1000 companies, startups and investors worldwide.