Connected Lifestyles: A Review of the Consumer Wearable Tech Landscape
By now, chances are that you or someone you know has gotten their feet wet and purchased a first generation wearable device, such as a Fitbit, jawbone or Pebble fitness band or tracker. While wearable devices are currently not as prevalent as other mobile devices, such as smartphones, they are gaining wide spread attention and on their way to becoming more mainstream. While fitness trackers make up the majority of sales, smartwatches have quickly taken second place thanks to the recent launch of Apple and Androidwear smart watches to name a few. This report offers a compelling review of the consumer wearable device landscape, featuring an introduction to the market, emerging brands and form factors, the design space, market drivers and constraints, and end user feedback around purchasing decisions and preferences. Wearables are a key growth ignitor for the mobile market and this report provides insights and analysis about current and future opportunities. Other insights include predictions, considerations and recommendations for implementation, as well as several key 5-year forecasts for the U.S. consumer wearables and smart phone market. The terms wearable technology, wearable devices, and wearables all refer to electronic technologies or computers that are incorporated into items of clothing and accessories, which can comfortably be worn on the body including implantables. These wearable devices can perform many of the same computing tasks as mobile phones and laptop computers.
Sources: Compass Intelligence’s segment and market forecasts, which include business expenditures, market demographics, and usage and adoption statistics are built using multiple sources, including proprietary Compass Intelligence research. These sources include, but are not limited to, secondary research, government data and statistics (e.g. Department of Commerce, Federal Communication Commission, Bureau of Labor Statistics and US Census Bureau), primary research, vendor-based research and in-depth interviews with key decision-makers, where relevant. Compass Intelligence selects data sources to provide greatest degree of perspective on each market or segment, in addition to the highest level of data accuracy, stability, and consistency over time.