“Fitbit” (CC BY 2.0) by JeepersMedia
As 2016 begins to dwindle and we look towards the light of 2017, the tech world continues to march forward: literally. An emerging market in 2015, the latest trend in 2016 and a necessity going forward, wearable tech is leading the digital world in some exciting new directions.
As is often the case when a tech market starts to mature, the cream rises to the top and a few players stand out from the crowd. According to the International Data Corporation’s (IDC) analysis of wearable tech in 2015, the market grew by a staggering 200% thanks to more than 21 million devices being shipped in the third quarter alone.
Wearables More Popular than Expected
“Apple Watch” (CC BY-SA 2.0) by JonChanLondon
Such has been the recent surge in wearable sales that industry analysts now believe the market will be worth $34 billion by 2020. After initially predicting a lower figure, CCS Insight revised its forecast back at the start of 2016 after sales exceeded expectations in the final quarter of 2015. In fact, according to CSS Insight, the popularity of smartwatches and fitness trackers will help generate sales of 411 million by the close of the decade.
With the market expanding and more people now willing to strap a piece of technology to their wrist, a number of players are starting to dominate the market. Unsurprisingly, Apple is one of the go-to brands thanks to its dominance in the smartphone and tablet arena. However, despite the power of Apple’s brand, it’s not the leading player in the game.
Popular opinion seems to be veering towards FitBit in the current climate. A Voucherbox survey of the top wearable brands has shown that FitBit tops the table with 37% of people’s vote ahead of the Apple Watch (27%) and Samsung Gear (20.9%). Supporting public opinion, FitBit’s sales have already topped 4.8 million compared to Apple’s 1.5 million watch sales.
Online Sales Driving the Market
“Amazon” (CC BY-SA 2.0) by A nosa disco necesítanos
Essentially, the wearable market is now the hottest ticket in the tech world, but where can you find the best deals? As you’d expect, the major online retailers such as Amazon are currently throwing their weight behind wearables through a combination of sales, money-off deals, and handy reviews. In fact, in comparison to high-street brands, Voucherbox customers voted Amazon as the best for price ahead of Argos and Currys.
Heading into the New Year, there’s no doubt that wearables are going will continue to dominate the tech world. Alongside virtual reality which is already predicted to hit $1 billion in sales over the next 12 months, smartwatches and fitness trackers will become standard pieces of kit for any tech lover throughout the next year.
In fact, as VR and wearables grow in popularity we could easily see some crossovers in the market. For example, a fitness tracker could be linked to virtual reality fitness program that would allow people to enjoy high-level training without leaving the comfort of their home. Similarly, a war game where players could monitor their vital signs in the same way a real soldier would help to make games more realistic, more engaging and more realistic than ever and that’s all thanks to the growth of the wearable market.