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November 3, 2016

16% US consumers own a smartwatch followed by western europe with 8%




 
With  the increasing  brands of smartwatches being launched, it would be interesting to see how much smartwatches the world has been buying. Post Apple and Samsung launched their own range of Smartwatches,North American and Europe has seen the highest number of smartwatches  being gobbled up.Significantly  one theory that many of us had predicted is coming true, traditional watched have been loosing out in this battle . Atleast recent data  from kantar media shows that for the three months ending July 2016, 20% of recent smartwatch buyers in the US made a purchase to replace a classic timepiece, rising to 30% in European Union

According to Kanta Media  data for q2,2016  shows that 15.2% of US consumers own either a smartwatch or fitness band, with the EU following behind at 8.1% penetration.
Within the smartwatch category only, excluding fitness bands, adoption remains low with 4.7% ownership in the US and 3.2% in EU.Apple dominated this segment with a 33.5% share, although that lead shrank slightly in the last three months as the market awaited the Apple Watch Series 
The EU4 countries show a similar trend to that of the US, with 38.6% of all sales coming in the smartwatch category, with Apple leading at 31.8%. Europe's big four markets include Great Britain, Germany, France, and Italy.


However shipments of smartwatches are likely to soar to double digits. Also coupled with the fact is that wearble's are sitting on a huge cash pile.  ready to witness a massive adoption. Recent Businessinsider estimates smartwatch shipments will rise by a compound annual rate of 41% over the next five years. Smartwatches will account for 59% of total wearable device shipments this year, and that share will expand to just over 70% of  the $126million shipments by 2019.