After the healthy acceptance of smartphones, India is becoming an important market for wearable devices like VR-Boxes, health & fitness trackers, smartwatches, headsets, smart glasses, and wearable cameras. While smartwatch’s market is currently at starting stage but with the strong participation of well-known tech-giants in manufacturing of smartwatches, one can easily guess the bright future of smartwatches in the global market. We can easily observe that, today’s smartwatch market is same as the Smartphone’s revolution 4-5 years ago.
Current Status
If we believe on the facts then, only the smartwatch technology will witness a wonderful growth and will have about 70% share of the total wearable technology shipments by 2019. According to another data available at International Data Corporation (IDC), there is an increase of 67.2% has been seen in shipment of wearable devices since 2015, which is quite a big number and most probably this is the reason why nobody wants to miss the Smartwatch boat today, as a result, both tech majors and traditional watch makers are continuously concentrating in this market.
In another study completed by Gartner Inc. says the same thing that smartwatches sales are on a rising trend now a day. Also, according to the same forecast, the total sales of wearable electronic devices would be about 274.6 million units globally by the end of 2016, which clearly shows the massive 18.4% increase in sales compared to 2015 when 232 million units were sold globally. As far as the estimated revenue generation is concerned, the wearable electronics will generate $28.7 billion in this year i.e. 2016 in which $11.5 billion would be fetched only by smartwatch business.
With big player tech-giants and traditional watchmakers investing resources in research and development of hi-tech devices, the user base would increase by 48% in 2017 as compared to 2015, which is obviously a big move indeed. On the other side the increased sales of smartphones would also result in boosting the sales of smartwatches as both are connected.
At present smartwatches segment is explored by only a small section of the society because it comes only under premium gadget category. It is expected that, it will soon be penetrate strongly in the rural market as the rates are competitive as many big and small companies are bringing in this gadget to Indian market and one cannot ignore the role chinese players which are also trying their best by introducing feature packed smartwatches in affordable range and forming a habit of using it in Indian market.
Why smartwatches so successful?
Smartwatches are quiet useful because of their multipurpose features. They have different apps for different purposes that can be very useful while working outdoors, travelling and during workouts etc. Some features a camera which stays on the strap or on the dial of the watch to take pictures easily. Smartwatches are now available to connect with almost every operating systems including Android, iOS and Windows operating systemic smartphones via Bluetooth and with the help of what one can easily operate the smartphone via smartwatch to get maximum of it.
Users can answer calls, send messages, see notifications, store pictures and navigate with ease without even having to pull out their phone often. Assume that, you’re at dinner and you feel a vibration in your pocket. Instead of automatically pulling your phone out of your pocket, you can simply tilt your wrist and see whether it’s your boss calling or a ignorable newsletter from any company. This is what makes smartwatches special and as the trend suggests, smartwatches will be the future as it is the only way when things can go really online and automation can be rooted to its best.
Other than these, Smartwatches also carry some unique features like “Fitness Tracker”. Most wearables have the ability to track your health metrics like steps and sleeps etc, whether you bought them primarily for that or not. And when you have something tracking how much you walk each day. Well in general, any person would like to walk more. Different devices will have different health capabilities, but the general trend will be toward a population especially youths in our country that is not just more health aware or are not so serious in terms of health. Secondly there exist some smartwatches which feature GPS technology which cannot be ignored in terms of security then there exist a lot of features like one can play music, shop, book a flight and plenty of unsung activities can be easily done with the help of smartwatch. Indian companies like ours believe in making the latest technology should reach to everyone; we provide all wearable devices including smartwatches at very affordable prices in the market.
Fading Technology
As Jack Dorsey (co-founder of Twitter and Square) has shared his thought that the best technologies “fade into the background, and they’re relevant when you want to use them, and they get out of the way when you don’t” and I agree with this statement.
This is my believe that these features offered with easy to handle will ultimately let the smartwatch create a revolution just same as the smartphone few years back. It is extremely good at disappearing; making you forget it is there until you need it.
The writer is a Marketing Manager in Bingo Technologies