Tag: smartwatch sales

Wearable technology sales have shown that the industry is hot and getting hotter

According to Valencell, there will soon be a day when wearables are commonplace but we’re not there, yet.

Performance biometric tech firm, Valencell, has recently stated that while the industry is headed toward a time when it will be difficult to imagine our lives without wearable technology, we have not yet reached that point and there are some very specific reasons to explain that.

The success of the Fitbit IPO, and the sales recorded by the Apple Watch are showing that wearables are growing.

Valencell has explained that while consumers are interested in wearable technology at the moment, these gadgets have not yet reached the point in which they are providing health feedback with the accuracy that they are seeking. This statement was made in a report made by the company based on a study conducted by their team with a focus on wrist wearables. What the team determined was that the PerformTek biometric tech that their company produced was able to deliver heart rate data when worn on the wrist to a degree that it was comparable to the readings collected by way of a chest strap.

The wearable technology research also indicated that the Apple Watch was not able to meet that goal.

Wearable Technology SalesThe researchers found that the Apple Watch was particularly incapable of collecting accurate heart rate feedback during physical activity.

While it is important to note that this research that praises the PerformTek biometric technology was conducted by Valencell’s own team, meaning that it is more than likely that biases – deliberate or completely unintentional – could be present, this study does raise a very important point with regards to the accuracy of biometric information that is being collected by way of mobile devices.

Previous studies have indicated that many medical professionals and organizations are not yet comfortable recommending the use of wearables for the collection of fitness and medical data simply because they have not yet been adequately studied in order to know whether or not their feedback should be considered to be satisfactory as a basis for making medical or fitness recommendations.

Until the reliability of wearable technology biometric data can be improved and proven, it is likely that this factor will continue to hold back its adoption among the general public.

Smartwatch sales leaders in the U.S. are clearly Samsung and Pebble

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.

Smartwatch SalesDuring 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.”