Wearables Market Is Not Doing Too Good According To Reports

wearables market

The wearables market is reportedly not doing so good according to some recently released reports.

The wearables market is reportedly not doing so good according to some recently released reports in the area which goes to show the dwindling interest.

Tis the season to be jolly. As most have probably already opened their Christmas gifts, wearables are somewhat unlikely to be amongst them.

A recently released report shows the decreasing interest in the area. According to eMarketer, a market research company released its estimates for 2017.

eMarketer approximated that the wearables market will mark a lower than expected increase. The estimated value was placed at 24.7 percent growth next year.

The estimate would not seem that bad. However, until recently, the wearables market was seen as an area of major future growth.

According to the market company, such devices will be used by almost 40 million users. The statistics apply to United States-based adult residents. An exact value estimates a number of 39.5 million users that will utilize a wearable at least once a month.

However, the initial forecasts were higher. A number of 63.7 million people had been previously estimated to use such a device. The numbers were also targeting an at least once a month usage.

IDC or the International Data Corporation also released a report on the matter. According to it, the wearables market saw a 3.1 percent rise. The figure targeted the third quarter of 2016 as compared to the same period in 2015.

The biggest name in the area, Apple, also reportedly faced some issues. The stagnant sale of the Apple Watch led to a 71 percent market drop off.

Both IDC and eMarketer seem to denote the same trend. Whilst smartwatches sales stagnate or drop, fitness trackers continue to dominate. IDC estimated that the latter devices had an 85 percent market growth.

Wearable market estimates show that only about 17.6 percent of the population uses such devices regularly.

Young adults register the highest adoption rates between the involved demographics. About 30 percent amongst them declared to be using such devices on a regular basis.

Some believe that functionality is behind the rise and drop in sales numbers. Wearables have more features and are generally the smarter devices. However, their services can also be found on more inclusive devices, namely smartphones.

As such, they might not have made such an impact. At the same time, fitness trackers are generally less expensive and more accurate variants.

Still, the big industry players are not backing away from the wearables market. Apple Watch has announced the release of a holiday special. It also just recently incorporated the Niantic-developed Pokemon GO version.

Google also went to announce that it will be releasing two new smartwatches. Their devices are expected for release sometime during the first quarter of 2017.

Whilst the future of the wearables market remains to be determined, on fact still stands. One of the reasons for the rise of the fitness tracker devices were their health benefits.

As such, there are some that suggest that the market might head specifically in a medical direction. The health industry is somewhat expected to turn in their direction.

It could use such devices to help better track patient health whilst also ensuring freedom of movement. Wearable devices could also come to be regularly used for a number of health-related purposes.

They could come to help gather data and track health. Such information could be used towards a better patient diagnosis and treatment.

Image Source: Flickr

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