2022
9
US Smartphones and Wearable Technology Market Report 2022
2022-04-26T04:05:15+01:00
OX1101725
3695
150767
[{"name":"Smartphones","url":"https:\/\/store.mintel.com\/industries\/technology\/smartphones"}]
Report
en_GB
“In many respects, the market for smartphones and wearables is positive. Consumer interest in the category is strong and barely dampened by the pandemic. Meanwhile, the mainstreaming of 5G should…

US Smartphones and Wearable Technology Market Report 2022

£ 3,695 (Excl.Tax)

Description

“In many respects, the market for smartphones and wearables is positive. Consumer interest in the category is strong and barely dampened by the pandemic. Meanwhile, the mainstreaming of 5G should eventually encourage smartphone upgrades. However, an uncertain economy could stunt growth. Smartphone upgrades may be delayed and purchase of wearables, which are more likely viewed as a nice-to-have, may be put off.”
Fiona O’Donnell, Senior Director – US Reports

This Report looks at the following areas:

  • The size and growth trends for the smartphone and wearables market, including how this sector has been impacted by COVID-19
  • Analysis of strategies and opportunities brands can leverage to win with consumers
  • Demographics and attitudes of the different consumer segments for smartphones and wearables
  • Ownership and usage trends for smartphones and wearables
  • How 5G could impact the smartphone market and consumer attitudes toward 5G

Table of Contents

  1. Overview

    • What you need to know
    • This Report looks at the following areas
    • Definition
    • Market context
  2. Executive Summary

    • Top takeaways
    • Market overview
      • Figure 1: Total US sales and fan chart forecast of mobile network provider equipment, at current prices, 2016-26
    • Mixed and temporary impact from COVID-19
      • Figure 2: Category outlook – Smartphones and wearable tech, 2022-27
    • Opportunities and challenges
    • Can the duopoly be disrupted?
      • Figure 3: Smartphone brand owned, by household income, 2022
    • Samsung not living up to its potential in wearables?
      • Figure 4: Wearable tech owned and synced with smartphone, by smartphone brand owned, 2022
    • Affluent dads a critical audience for wearables
      • Figure 5: Smartwatch/activity tracker ownership, attitudes toward wearable tech, by select demographics, 2022
    • Is 5G all that?
      • Figure 6: 5G Smartphone attitudes and ownership, by age, 2022
    • Key consumer insights: what consumers want and why
  3. Market Value Indicators

    • A large and growing market for smartphones
      • Figure 7: Total US sales and forecast of mobile network provider equipment, at current prices, 2016-26
    • Wearables still in an early phase of adoption
      • Figure 8: Select companies’ wearable sales revenue, 2019-21
  4. Market Factors

    • COVID-19 causes a noticeable but temporary impact
    • Inflation and uncertainty could dent sales growth
      • Figure 9: Consumer Price Index change from previous period, 2007-22
      • Figure 10: Consumer Sentiment Index, 2007-22
    • Supply chain pain
    • 5G to rev up sales?
      • Figure 11: Interest in 5G networks and 5G smartphones, 2020 vs 2022
      • Figure 12: Interest in 5G networks and 5G smartphones, by key demographics, 2022
  5. Key Players

    • Apple, Samsung split US smartphone sector
      • Figure 13: Mobile phone unit sales, by company, 2020 and 2021
      • Figure 14: Smartphone brands owned, 2019-22
    • LG’s loss could be Motorola’s gain
    • Bigger isn’t always better for wearables
  6. Competitive Strategies and Market Opportunities

    • Carrier partnerships – A mixed blessing
      • Figure 15: T-Mobile email advertising featuring the Samsung Galaxy S22+, 2022
      • Figure 16: Google and Verizon Pixel 6 Mobile and Instagram advertising, 2021
    • Know when to fold ’em
    • Taking a focused approach to fitness and wellness
      • Figure 17: Oura Ring: third generation smart ring – Instagram post, 2021
    • Making mobile sustainable
      • Figure 18: Fairphone 4: Instagram post, 2022
  7. The Mobile Consumer – Fast Facts

    • Three consumer segments for smartphones and wearables
    • Apple, Samsung hold 82% of the market
    • Vast majority of consumers buy new and at retail
    • Limited enthusiasm for 5G, unlikely to motivate switching
    • Earbuds the most popular wearable, more than half use wearables for health monitoring
  8. Consumer Segments – Smartphones & Wearable Tech

      • Figure 19: Smartphone owner consumer segments, 2022
    • Conservative Consumers (35%)
    • Characteristics
      • Figure 20: Profile of Conservative Consumers, 2022
    • Opportunities
      • Figure 21: Smartphone ownership and purchase intent – Within the next year, by consumer segments, 2022
    • Diverse Device Dads (24%)
    • Characteristics
      • Figure 22: Profile of Diverse Device Dads, 2022
      • Figure 23: Wearable tech owned and synched with smartphone, by consumer segments, 2022
    • Opportunities
      • Figure 24: Attitudes toward smartphones and wearable tech, by consumer segments, 2022
    • Aspiring Adopters (41%)
    • Characteristics
      • Figure 25: Profile of Aspiring Adopters, 2022
    • Opportunities
      • Figure 26: Smartphone brands owned, by consumer segments, 2022
  9. Smartphone Brand Ownership

    • Room for three?
      • Figure 27: Smartphone brands owned, 2019-22
    • Younger, less-affluent consumers most open to new brands
      • Figure 28: Smartphone brands owned, by age and household income, 2022
    • T-Mobile subscribers most likely to choose Samsung
      • Figure 29: Smartphone brand owned, by mobile network provider, 2022
  10. Smartphone Purchasing – Type and Payment

    • New phones are the norm
      • Figure 30: Smartphone – New or used/refurbished, 2022
    • Younger, less-affluent consumers most open to buying used
      • Figure 31: Smartphone – New or used/refurbished, by age and household income, 2022
      • Figure 32: Smartphone – New or used/refurbished, by mobile network provider, 2022
    • Installment payment most common model
      • Figure 33: Smartphone payment method, by household income, 2022
    • Smartphones frequently gifted to younger consumers
      • Figure 34: Smartphone payment method, by age, 2022
    • Verizon users favor installment plans
      • Figure 35: Smartphone payment/purchase method, by mobile network provider, 2022
  11. Smartphone Purchase Methods

    • In person prevails
      • Figure 36: Smartphone purchase method – Online vs in person, by age, 2022
    • Lowest-income consumers most likely to buy in person
      • Figure 37: Smartphone purchase method – Online vs in person, by household income, 2022
    • Alternate carriers more successful in moving shoppers online
      • Figure 38: Smartphone purchase method – Online vs in person, by mobile network provider, 2022
    • Younger men less likely to rely on carrier stores
      • Figure 39: Smartphone purchase location, by gender and age, 2022
    • T-Mobile, Verizon subscribers most likely to use their stores
      • Figure 40: Smartphone purchase location, by mobile network provider, 2022
    • Apple leads in phone brand purchasing
      • Figure 41: Smartphone purchase location, by smartphone brand owned, 2022
  12. 5G Smartphones and 5G Plans

    • Less than half of 5G users find it faster, more reliable
      • Figure 42: Attitudes toward 5G – Among 5G smartphone owners with a 5G plan, 2022
    • Owners of alternate brands most engaged in 5G
      • Figure 43: Attitudes toward 5G – 5G smartphone owners with a 5G plan, by smartphone brand owned, 2022
    • AT&T users give 5G highest marks
      • Figure 44: Attitudes toward 5G – 5G smartphone owners with a 5G plan, by mobile network provider, 2022
    • 5G laggards have similar expectations to 5G adopters
      • Figure 45: Attitudes toward 5G – Non-5G smartphone owners without a 5G plan, 2022
    • Younger users most pessimistic about 5G performance
      • Figure 46: Attitudes toward 5G – Non-5G smartphone owners without a 5G plan, by age, 2022
    • More challenges for rural users
      • Figure 47: Attitudes toward 5G – Non-5G smartphone owners without a 5G plan, by area, 2022
    • Some indications T-Mobile is breaking through
      • Figure 48: Attitudes toward 5G – Non-5G smartphone owners without a 5G plan, by mobile network provider, 2022
  13. Attitudes toward Smartphones

    • Majority locked into their current OS
      • Figure 49: Attitudes toward smartphones – Switching, 2022
    • White smartphone owners least open to switching brands
      • Figure 50: Attitudes toward smartphones – Switching, by race and ethnic origin, 2022
    • Smartphone owners value new phones
      • Figure 51: Attitudes toward smartphones – Replacement, 2022
    • Lower-income smartphone owners less concerned about new
      • Figure 52: Attitudes toward smartphones – Replacement, by age and household income, 2022
    • Smartphone owners open to repairs
      • Figure 53: Attitudes toward smartphones – Environment/sustainability, 2022
    • Younger men most interested in sustainability
      • Figure 54: Attitudes toward smartphones – Environment/sustainability, by gender and age, 2022
  14. Wearable Tech Ownership

    • Earbuds most popular wearable
      • Figure 55: Wearable tech owned and synced with smartphone, 2022
    • Men more engaged with audio
      • Figure 56: Wearable tech owned and synced with smartphone – Select items, by gender and age, 2022
    • Apple users favor earbuds
      • Figure 57: Wearable tech owned and synced with smartphone, by smartphone brand owned, 2022
    • Cost a major factor behind failure to adopt
      • Figure 58: Reasons for not owning a smartwatch or activity tracker, by gender, 2022
    • Younger, less-affluent consumers most worried about expense
      • Figure 59: Reasons for not owning a smartwatch or activity tracker, by age and household income, 2022
  15. Wearable Tech Uses

    • Health applications most popular
      • Figure 60: Smartwatch or activity tracker uses, 2022
    • Younger users most focused on phone integration
      • Figure 61: Smartwatch or activity tracker uses, by gender and age indexed to all, 2022
    • Middle-income consumers rely on wearables most
      • Figure 62: Smartwatch or activity tracker uses, by household income indexed to all, 2022
  16. Attitudes toward Wearable Tech

    • Interest in integration
      • Figure 63: Attitudes toward wearable tech, 2022
    • Men aged 35-54 most interested in wearables
      • Figure 64: Attitudes toward wearable tech, by age and gender, 2022
    • Less affluent more open to alternate brands
      • Figure 65: Attitudes toward wearable tech, by age and household income, 2022
  17. Appendix – Data Sources and Abbreviations

    • Data sources
    • Sales data
    • Forecast
    • Consumer survey data
    • Marketing creative
    • Abbreviations and terms
    • Abbreviations
  18. Appendix – Trend Drivers

      • Figure 66: Mintel Trend Drivers and Pillars

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