These two companies currently make up 96 percent of American sales for these wearables.
According to a recent survey, Samsung and Pebble are the smartwatch manufacturers that have massively dominated the category since October, in terms of sales, as Gear devices currently make up an estimated 78 percent of the total $96 million in revenue for that market, while Pebble holds the majority of the remainder, at 18 percent.
It has been estimated that since October 2013, there have been about half a million of these devices sold in the U.S.
The data was released by the Weekly Tracking Service from NPD Group, a market research company, which said that “almost half a million smartwatches have been sold in the U.S. since October 2013 and category incumbents, Samsung and Pebble, dominate the market.” NPD ‘s recent survey includes data that spans from October 6 of last year, to May 25.
Details about the smartwatch sales from other companies such as Qualcomm and Sony were not revealed in the report.
During that period of time, one in three of all of the wristwatch wearable technology devices were sold within the 2013 holiday season, said the report. NPD executive director of industry analysis, Ben Arnold, explained that they are predicting that that the sales of these devices will only continue to grow throughout this year. He added that “With nearly $100 million in US sales in less than a year, the category is off to a promising start with just two major brands.”
The report went on to say that the Wearable Technology Study from NPD showed that about 20 percent of consumers feel that they are interested in actually buying one of these devices, except that the cost is currently prohibitively high. In the United States, the price of the average smartwatch is currently $189, with devices ranging from about $160 to $257.
Arnold went on to say that as manufacturers spot the opportunity to combine the sale of these wearables with that of smartphones, the prices of the watches have started to dip down into the range that consumers would consider to be more affordable. He stated that “Like any new product category, the overall ASP (average selling price) on these devices will decline as the market becomes more diverse with budget, mid-level, and premium product offerings.”