Internet of Things & Wearable Technology Insights

CCS Insight has updated its outlook on the future of wearable tech, indicating that 411 million smart wearable devices, worth a staggering $34 billion, will be sold in 2020.

The analyst claims the industry will hit $14 billion this year, with wrist-based devices – such as smartwatches and fitness trackers – continuing to dominate. Its forecast states half of all wearable tech sales over the next 12 months will be from these genres, with smartwatches making up 50% of the estimated 60 million shipments.

Back in mid-2015 CCS claimed that around 20 million Apple Watches would be sold in the calendar year but it is now stating that just over 9 million Cupertino smartwatches were sold before 2016 arrived. That’s a number that gives it, according to the report, a 41 percent market share.

Earlier this month Canalys estimated that Apple shipped 12 million smartwatches in 2015 – a figure it claimed was worth two-thirds of the total smartwatch market. Gartner had stated a week earlier that around 30 million smartwatches were shifted in 2015. So that’s estimates of 18, 22 and 30 million from three of the biggest analysts, proving that it’s not an exact science....

Around one-in-two wearable technology owners are aged between 20-39 years and are most likely to be independent young adults or adults with young children. Their personal income is 16% higher than the national average. Wearable devices are particularly popular with Wellingtonians.

Wearable technology owners are career-driven. Forty-two percent say they want to get to the top in their career. They are also more likely to say their work is more than a job, their work colleagues are among their best friends, and that they often respond to emails at home and on the weekend.

This group of consumers also live and breathe active lifestyles. Six-in-10 (59%) say exercise is an important part of their regular routine and 25% go to the gym at least twice a week. Around three-in-four (73%) say they try to balance healthy eating with their busy lifestyle....