SOURCE: Compass Intelligence

Compass Intelligence

October 20, 2015 09:00 ET

The U.S. Consumer Wearables Market Will Reach $9.7B by 2019, Says Compass Intelligence

Fitness and Smart Watch Wearables Dominate

SAN ANTONIO, TX--(Marketwired - October 20, 2015) - Compass Intelligence (www.compassintelligence.com), a market analytics and consulting firm specializing in metrics-driven intelligence and insights, has released a series of wearable technology studies highlighting various aspects of the consumer wearables market within its “Emerging Technologies” research track. The reports combine market size forecasts with consumer insight driven data that discusses adoption and usage of wearable devices as well as results from a recent consumer survey. The studies also detail consumers’ brand and form factor preferences for wearable devices. In addition, an overall review of the consumer wearable technology landscape, highlighting key players and consumer adoption drivers, is also provided.

Wearable technology includes smart watches, bracelets/bands, e-textiles and smart fabrics, glasses, headsets, headbands, and other similar devices and apparel. Wearable technology delivers enhanced functionality such as sensory tracking and biofeedback that is generally not available in other mobile devices. The latest research studies analyze demand for a plethora of consumer wearables including ownership and usage of various technologies such as fitness bands, smart watches, medical/health monitoring devices, and other similar devices. Moreover, they also provide insights into wearable device attributes most relished by consumers.

“As penetration of wearable technology increases, the capabilities as well as motives behind using such devices will also evolve,” states Heather Taylor, Sr. Analyst, Compass Intelligence. “While fitness devices and smart watches currently dominate the wearable technology discussion, other segments such as medical monitoring and apparel accessories are also expected to realize growth over the next 3-5 years.”

Within the U.S. market, revenues from the sale of wearable devices are expected to reach $9.7 billion by 2019. Revenue growth in this market is largely driven by rising adoption of smart watches, as well as higher-end wrist band and fitness devices. Key findings of the study include:

a) Adoption of wearable technology continues to gain momentum as nearly 30 percent of U.S. consumers now own/use such devices.

b) Fitness and health tracking devices including bands and smart watches remain the most popular among consumers.

c) While consumers perceive various benefits from using wearable devices, nearly 60 percent of those surveyed by Compass Intelligence perceive wearable devices as “too expensive.”

d) An overwhelming majority of those surveyed also stated their desire to have some homogeneity between wearable device and smartphone interfaces.

These research studies can be purchased individually or as part of a cost-saving bundle. Click here to learn more about the studies and to receive free excerpts.

About Compass Intelligence

Compass Intelligence, a market analytics and consulting firm, specializes in strategy acceleration and insights for the high-tech and telecom industries while providing clients tailored services focused on metrics-driven intelligence and insights. Compass Intelligence provides executive insights, market sizing/modeling, survey analysis, competitive benchmarking, strategic consulting, and expert recommendations on the enterprise mobile and IoT markets. http://www.compassintelligence.com.

Image Available: http://www.marketwire.com/library/MwGo/2015/10/20/11G068189/Images/CI_Wearables_2015-506674908104.jpg

Contact Information