Research firm examines the state of the wearables market and consumer adoption of major brands including Fitbit, Apple, Samsung, and Garmin
Connected wearables research from Parks Associates finds that Fitbit leads the market for wrist wearables due in large part to the brand’s dominance among older consumers. 360 Deep Dive: Consumer Demand for Connected Wearables reports that while Fitbit and Apple share the lead among consumers ages 18-24, Fitbit has a wide lead among older consumers, commanding 68% of wearables owners 55-64 and 60% of wearables owners 65 and older.
360 Deep Dive: Consumer Demand for Connected Wearables examines the state of the wearables market including smart watches, fitness trackers, and GPS sports watches. The research provides insight into consumer device adoption and purchase trends, the changing nature of the wearables categories, major barriers to adoption, in-demand product features, and how the customers of the big four players – Fitbit, Apple, Samsung, and Garmin – differ in terms of their priorities and use of devices.
“Fitbit leads among fitness trackers, and its entry in the smart watch market has been successful, but Apple generates substantially more revenue per device,” said Kristen Hanich, Senior Analyst, Parks Associates. “Companies in the wearables space are working to differentiate through new styles and capabilities and to create new revenues through companion services, like Fitbit’s strategy with its new Fitbit Premium fitness coaching service, designed to increase brand stickiness and add new value propositions.”
Parks Associates’ research finds Apple and Samsung watches are used for a wider variety of purposes than are Fitbit watches. Just 43% of Fitbit smart watch owners regularly receive texts and email notifications on their device as compared to 75% of Apple owners or 79% of Samsung owners. Likewise, Apple and Samsung smart watch owners are more likely to engage in a variety of news/entertainment activities, including weather and music applications.
“On November 1st, Google (aka Alphabet) announced that it had made an offer to acquire Fitbit,” Hanich said. “If successful, this acquisition would significantly shake up the wearables space.”
About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
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