New consumer research analyzes smart watch market and consumer demand
New research from Parks Associates shows early adopters of smart watches make their purchase decisions based on the device’s features and functionality as well as user reviews. Among U.S. smart watch owners, 58% ranked the watch’s features, such as fitness tracking and the ability to receive notifications, as a top consideration in their purchase decision, followed by the brand at 49% and product appearance at 30%.
“Features and functionality have driven early adoption of the smart watch,” said Tejas Mehta, Research Analyst, Parks Associates. “However, design, fashion, and personalization are becoming important elements as smart watch vendors strive for greater mainstream adoption of smart watches. Consumer technology companies such as Samsung, Sony, Motorola, and LG have all shown a greater emphasis on design and personalization with their second- and third-generation smart watches.”
The industry report Smart Watch: Extending the Mobile Experience examines the emergence of the smart watch as a mobile device complementing the smartphone and extending the mobile experience for consumers. According to Parks Associates, 52% of consumers in U.S. broadband households who plan to purchase a smart watch will use it for tracking fitness activities, 51% for checking the weather, and 50% for listening to music.
“Platforms like Apple’s WatchKit and Google’s Android Wear are extending the reach of the smart watch into all areas of the digital lifestyle,” Mehta said. “These platforms will further fuel the evolution of the smart watch as a mobile device.”
The Parks Associates report outlines the goals and strategies of various stakeholders in the mobile device and service ecosystems and how the smart watch fits within their overall mobile strategy. It also provides a five-year market forecast for smart watch unit sales and revenues.
Parks Associates will discuss connected health and wearables research at its second-annual Connected Health Summit: Engaging Consumers, September 9-10 in San Diego, CA, with a special networking meet-and-greet on September 8 that includes a San Diego Padres baseball game. The event features keynotes from AT&T, Humana, and Kaiser Permanente. For more information, visit www.connectedhealthsummit.com.
Smart Watch: Extending the Mobile Experience is available for purchase at www.parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Holly Sprague at hsprague@gmail.com.
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