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Wearable Technology - UK - November 2018

OVERVIEW
What you need to know
Products covered in this Report
EXECUTIVE SUMMARY
The market
Smartwatch sales set to overtake fitness trackers in 2018
Figure 1: Estimated unit sales of wrist-worn wearable devices, by product category, 2016-18
Smartphone updates and rising usage driving wearable tech innovation
Figure 2: Ownership of smartphones, January 2012-September 2018
Companies and brands
Apple Watch 4 launched in September 2018
Samsung launches new smartwatch under the Galaxy brand
The consumer
Smartwatch ownership expected to return to growth
Figure 3: Ownership of wearable devices, December 2016-September 2018
Fitbit is the most popular brand in wrist-worn technology…
…but the Apple Watch is the most popular among men
Figure 4: Wrist-worn device ownership, by brand, September 2018
Over three in 10 people intend to buy wearable technology in the next year
Figure 5: Intent to buy wearable technology, September 2018
Battery life is the biggest factor for those looking to buy wrist-worn devices
Figure 6: Important factors in boosting wrist-worn device ownership, September 2018
Six in 10 owners use wrist-worn technology every day
Figure 7: Wrist-worn technology use, September 2018
A quarter of smartwatch owners use it most often for exercise
Figure 8: Smartwatch activities, September 2018
Health and wellness is the leading area of interest for wearable technology
Figure 9: Uses of wearable technology, September 2018
Over seven in 10 feel wrist-worn technology has improved their physical health
Figure 10: Attitudes towards fitness tracking wearables, September 2018
Seven in 10 still see smartwatches as too expensive
Figure 11: Attitudes towards smartwatches, September 2018
Half of people prefer smartwatches from tech companies over fashion brands
Figure 12: Attitudes towards wearable technology, September 2018
What we think
ISSUES AND INSIGHTS
Wearables market can benefit from health focus and digital detox trend
The facts
The implications
How far can the smartwatch market grow?
The facts
The implications
THE MARKET – WHAT YOU NEED TO KNOW
Smartwatch sales set to overtake fitness trackers in 2018
Other wearable technology products remain niche markets
Smartphone updates and rising usage driving wearable tech innovation
Focus on health and fitness continues to drive interest in wearables
Increasing choice of styles and brands for smartwatch shoppers
MARKET SIZE AND SEGMENTATION
Smartwatch sales set to overtake fitness trackers in 2018
Other wearable technology products remain niche markets
Figure 13: Estimated unit sales of wrist-worn wearable devices, by product category, 2016-18
MARKET DRIVERS
Smartphone updates and rising usage driving wearable tech innovation
Figure 14: Ownership of smartphones, January 2012-September 2018
Consumer electronics spending could be limited by import prices
Figure 15: Proportion of consumers who have bought electrical equipment in the last three months or plan to in the next three months, June 2012-July 2018
Focus on health and fitness continues to drive interest in wearables
Figure 16: Fitness mobile app usage, July 2018
Increasing choice of styles and brands for smartwatch shoppers
Discounted models
COMPANIES AND BRANDS – WHAT YOU NEED TO KNOW
Apple Watch 4 launched in September 2018
Samsung launches new smartwatch under the Galaxy brand
Gamin increasingly moving beyond sports and into the smartwatch market
Fitbit expands smartwatch range with the Versa
Snapchat releases updated range of Spectacles
LAUNCH ACTIVITY AND INNOVATION
Apple Watch 4 launched in September 2018
Figure 17: Apple Watch Series 4
Samsung launches new smartwatch under the Galaxy brand
Figure 18: Samsung’s Galaxy Watch in three designs
Gamin increasingly moving beyond sports and into the smartwatch market
Figure 19: Garmin’s Fenix 5S Plus, 5X Plus, and 5 Plus smartwatches
Fitbit expands smartwatch range with the Versa
Figure 20: Fitbit’s Versa smartwatch
Fashion labels look to offer more stylish smartwatches
Figure 21: Armani Exchange Connected range of smartwatches
Snapchat releases updated range of Spectacles
Oura ring offers constant wearable data collection
Figure 22: The Oura smart ring
New launches in the smart clothing segment
THE CONSUMER – WHAT YOU NEED TO KNOW
Smartwatch ownership expected to return to growth
Fitbit is the most popular brand in wrist-worn technology
The Apple Watch is the most popular among men
Over three in 10 people intend to buy wearable technology in the next year
Men showing far higher intent to buy wearable technology
Battery life is the biggest factor for those looking to buy wrist-worn devices
Six in 10 owners use wrist-worn technology every day
Health and wellness is the leading area of interest for wearable technology
The majority feel wrist-worn technology has improved their physical health
Seven in 10 still see smartwatches as too expensive
WEARABLE TECHNOLOGY OWNERSHIP
Smartwatch ownership expected to return to growth…
…while wearable camera ownership stagnates
The “hearables” segment is one to watch
Figure 23: Ownership of wearable devices, December 2016-September 2018
Men much more likely to own smartwatches…
…but peak ownership for all wrist-worn tech is among 25-34-year-olds
Figure 24: Wrist-worn technology ownership, by gender and age, September 2018
Fitbit is the most popular brand in wrist-worn technology…
…but the Apple Watch is the most popular among men
Figure 25: Wrist-worn device ownership, by brand, September 2018
INTENT TO BUY WEARABLE TECHNOLOGY
Over three in 10 people intend to buy wearable technology in the next year
Figure 26: Intent to buy wearable technology, September 2018
One in 10 people are planning to buy in four or more wearable tech categories
Figure 27: Repertoire of intent to buy, September 2018
Men showing far higher intent to buy
Figure 28: Intent to buy wearable technology, by gender, September 2018
Battery life is the biggest factor for those looking to buy wrist-worn devices…
…while four in 10 looking to buy want cellular service
Figure 29: Important factors in boosting wrist-worn device ownership, September 2018
Strong battery life and cellular service together would motivate three in 10 people
Figure 30: TURF Analysis – Influential features of smartwatch/fitness band/sports watch, September 2018
USAGE OF WEARABLE TECHNOLOGY
Six in 10 owners use wrist-worn technology every day
Figure 31: Wrist-worn technology use, September 2018
A quarter of smartwatch owners use it most often for exercise
Figure 32: Smartwatch activities, September 2018
Health and wellness is the leading area of interest for wearable technology
Figure 33: Uses of wearable technology, September 2018
Women are placing greater emphasis on wearable technology for health
Figure 34: Uses of wearable technology, by gender, September 2018
Half of 25-34-year-olds would use wearable technology to monitor health
Figure 35: Uses of wearable technology, by age, September 2018
ATTITUDES TOWARDS WEARABLE TECHNOLOGY
Over seven in 10 feel wrist-worn technology has improved their physical health…
…but this declines to just over half when it comes to mental health
Figure 36: Attitudes towards fitness tracking wearables, September 2018
Seven in 10 still see smartwatches as too expensive
Figure 37: Attitudes towards smartwatches, September 2018
Half of people prefer smartwatches from tech companies over fashion brands
Four in 10 people aged 16-34 feel technology use is impacting mental health
Figure 38: Attitudes towards wearable technology, September 2018
APPENDIX – DATA SOURCES, ABBREVIATIONS, AND SUPPORTING INFORMATION
Abbreviations
Consumer research methodology
TURF – Methodology
Figure 39: Table - TURF Analysis – Influential features of smartwatch/fitness band/sports watch, September 2018

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