Is the smartwatch market a gold mine?

发布时间:2016/03/29 文章来源:本站

Amid all the rumors of large consumer tech giants interests in the smartwatch market and the growing number of smaller independent companies pushing out their own crowdfunded smartwatches, it is still unknown how large or profitable the smartwatch market really will be. The modern smartwatch has already arrived, yet we have not seen large scale buying of these devices.

When Sony launched their first SmartWatch in 2012, it sold for $149.99 and allowed users to view email, text and social media notifications. It did not take off as well as Sony would like it and in 2013, Sony revealed their second smartwatch product, SmartWatch 2.

In July 2013, ABI Research estimated that in 2013, approximately 1.2 million smartwatchs will be sold worldwide, translating to about $370 million in revenue. With over a billion smartphone users in the world, 1.2 million is really small.

Josh Flood, a senior analyst at ABI Research said:

I think at the moment, we can all see the viability and potential for a smartwatch. It makes senses, and linking it to our smartphones could be useful. However, currently, it lacks that real strong case study which makes consumers think, ‘I need that product’.

The smartwatch that made headlines on Kickstarter, is the Pebble. Having garnered $10.2 million from 68,929 backers on Kickstarter, the company has progressed to selling in retail stores at Best Buy, and continually releasing updates to its OS and SDK. The Pebble retails for the same price as the Sony SmartWatch, but is pretty different from it. Offering an e-ink display instead of a colored touchscreen, the Pebble features a longer battery life than the SmartWatch.

This is only the tip of the iceberg. With so many different smartwatch models coming out this year, each trying to differentiate itself from its competition, we will see more and more tech and design innovations come out. However, most still feature the same basic features. Some devices are seeing success while others are getting very few backers.

There is also one more thing. We have not seen the more established consumer electronics giants bring their product offerings to the table yet. When Apple, Google, Samsung and even Microsoft come into the market, I think that will be the time when we see the full potential of what smartwatches can do.

Now, how long more do we have to wait?

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