SOURCE: iGR

iGR

October 15, 2013 06:00 ET

New iGR Study Forecasts Smartwatch Sales in the U.S. to Grow at a CAGR of 195 Percent Over the Next Five Years

Smartwatches Will Be the Next High-Growth Market as the U.S. Smartphone Market Growth Slows

AUSTIN, TX--(Marketwired - Oct 15, 2013) - Although wearing a wristwatch is still an everyday habit for many, smartphones' convenient display of time has made standard watches obsolete for many young consumers. Smartwatches, which allow information from synchronized smartphones to be instantly and conveniently accessible to the wearer, may once again make wearing a device on the wrist a commonplace occurrence for all age groups. 

The smartwatch market is still in its infancy, and a variety of vendors have recently launched new products, many of which function with both iOS and Android smartphones. iGR believes that as the market matures, more smartwatches will be built exclusively for a particular platform. iGR estimates that total smartwatch sales will grow at a CAGR of almost 195 percent between 2012 and 2017, but sales of devices that function on both iOS and Android will only grow at a CAGR of 48 percent.

"iGR expects that the smartwatch market in the U.S. will grow significantly, as the smartphone market matures and slows," said Iain Gillott, president and founder of iGR, a market research consultancy focused on the wireless and mobile industry. "This growth will be driven by devices from companies such as Samsung and Apple."

iGR's new market research report, U.S. Mobile Wearable Devices Forecast, 2012 - 2017, defines three groups of wearable devices: smartwatches, fitness and health tracking devices, and smart glasses. It provides results from iGR's latest survey of U.S. consumers, which quantified consumers' familiarity with, interest in, and current use of these devices. The report includes a five-year forecast for the sales of both fitness and health tracking devices and smartwatches. Finally, it includes profiles of dozens of companies that provide products in these developing markets. 

The following key questions are addressed in the new research study:

  • What types of wearable devices are currently being used?
  • What percentage of U.S. consumers are currently using heart monitors, pedometers, fitness and exercise trackers and smartwatches?
  • What percentage of U.S. consumers are currently using fitness-related smartphone apps? Why do they use these apps and how much did they spend on the app?
  • What types of activities are U.S. consumers interested in monitoring?
  • What percentage of U.S. consumers are interested in purchasing a fitness and health tracking device and what features would they require in such a device?
  • How much are consumers willing to spend on fitness and health tracking devices and how does that price compare to the current average sales price?
  • How interested are consumers in smartwatches and what are their concerns? 
  • How interested are Apple and Android users in a smartwatch developed by Apple or Samsung?
  • How interested are consumers in Google Glass and what are their concerns? 
  • What is the five-year forecast for fitness and healthcare devices and smartwatches?
  • Which companies are currently providing fitness and healthcare tracking devices, smartwatches and smart glasses?
  • What demographic trends are apparent in U.S. consumers' use of and interest in wearable devices?

The information in this report will be valuable for:

  • Developers of mobile apps
  • Mobile device OEMs
  • Wearable device OEMs
  • Mobile service providers
  • Semiconductor manufacturers
  • Financial and investment analysts.

The new report can be purchased and downloaded directly from iGR's website at www.iGR-inc.com. Alternatively, contact Iain Gillott at (512) 263-5682 or at Iain@iGR-inc.com for additional details.

About iGR
iGR is a market strategy consultancy focused on the wireless and mobile communications industry. Founded by Iain Gillott, one of the wireless industry's leading analysts, in late 2000 as iGillottResearch, iGR is now entering its thirteenth year of operation. iGR continuously researches emerging and existent technologies, technology industries, and consumer markets. We use our detailed research to offer a range of services to help companies improve their position in the marketplace, clearly define their future direction, and ultimately improve their bottom line.

iGR researches a range of wireless and mobile products and technologies, including: smartphones; tablets; mobile applications; bandwidth demand and use; small cell architectures; DAS; LTE; VoLTE; IMS; NFC; GSM/GPRS/UMTS/HSPA; CDMA 1x/EV-DO; iDEN; SIP; macro-, pico- and femtocells; mobile backhaul; WiFi and WiFi offload; and SIM and UICC.

A more complete profile of the company can be found at www.igr-inc.com.

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