Tag: wearable technology sales

Demand continues to rise for wearables and it appears to be reaching every corner of the world.

The wearable technology fad has not only been making its way through developed markets, but it is also spreading through developing nations, as well, such as in the largest economy of Africa, Nigeria.

Phone manufacturers in that company are currently pushing a range of different wearables to boost their revenues.

These companies are focusing on their promotions of items that range from smartwatches to smart glasses as well as fitness bands and other electronic accessories. The hope is to increase revenues as well as to take hold of a larger market share. Followers of the market feel that demand is rising as smartphone penetration reaches an uppermost point and as the integration of wearable technology gadgets with those mobile devices boosts their functionality.

The enhanced experience has allowed the demand for wearable technology to experience a considerable growth.

Figures from Technology Distributors (TD) show that more than 10 million smart devices that come to a value of more than $1 billion were sold in Nigeria last year, alone. That said, market followers have feel that the upcoming wave of devices to be sold within the mobile industry is likely to be within the wearables category.

Research firm Deliotte forecasted that fitness bands, smartwatches, and smart glasses would break the $3 billion mark this year, after having sold approximately 10 million units. Some of the giants within this industry, such as Samsung, Google, Sony, Huawei, and Nokia – the top sellers in Nigeria – have already started to reap the benefits of this considerable potential in revenue. Many of these companies have been sending an increasing number of wearable tech devices into Nigeria.

However, they are not alone. Smaller boutique manufacturers have also been hoping to carve out their own little slices of the pie as they step into this space and aim to obtain a healthy portion of the market share, bringing in greater revenues.

The wearable technology category of mobile as a whole has the potential to bring about considerable changes to the global tech industry. It will be an important sector to watch in terms of trends and direction over coming months and years.

A new report from ON World has predicted that these mobile devices will become explosively popular.

A new report has now been released by ON World, a research firm, which has forecasted that wearable technology devices – which include everything from smartwatches to smart clothing and from fitness bands to augmented reality glasses – will make up an industry worth $50 billion by the year 2018.

It expects that by the end of that time period, 700 million of these mobile devices will have been shipped.

The wearable technology report also projected that by the year 2018, there will be 330 million shipments around the world of smartwatches, alone. When this is compared to the 3 million that were shipped on a global scale, last year, it is clear that this represents a staggering growth. The vast majority of the revenue in this area is expected to be from hardware, within that time span. That said, apps and monitoring services – among other subscriptions – should also be taking of throughout that time.

Wearable technology will also experience a shift in the dominant types of device during that time.

The research firm feels that by 2018, the current leaders in the market, which are health and fitness focused mobile devices, will be replaced by smart gadgets such as smartwatches, augmented reality glasses, and wearable sensors in many different forms. The smartwatch, says ON World, is going to be a highly disruptive force within the current tech market. The company believes that these devices will replace a number of the app needs currently experienced by many owners of smartphones.

To support the predictions that it has made, the firm went on to survey 1,000 consumers and determined that among all of the various forms of wearables currently available, 55 percent preferred a device in wristwatch form. Another 38 percent said that they had an interest in the health applications that are offered by these types of gadgets.

The consumer survey also found that the rumored wearable technology from Apple, dubbed the iWatch, is the most preferred, despite the fact that it hasn’t even been unveiled, yet. Price is also an important deciding factor that determines a consumer’s final choice, as 40 percent were willing to pay over $99, but only 8 percent were willing to go above $299.