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Wearable Technology - UK - November 2018

“Smartwatch sales are beginning to overtake those of fitness bands and sports watches as lines between the devices blur. Consumers are seeing real health benefits in the data collection and analysis such devices can provide, with many motivated to exercise more. While wearable technology brands continue to innovative across the jewellery, clothing and headphone markets, smartwatches will remain the primary focus, driven by annual launches from the major smartphone manufacturers”.

- Adrian Reynolds, Consumer Technology Analyst

This report will look at the following areas:

  • Wearables market can benefit from health focus and digital detox trend
  • How far can the smartwatch market grow?

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Table of contents

  1. Overview

    • What you need to know
      • Products covered in this Report
      • Executive Summary

          • The market
            • Smartwatch sales set to overtake fitness trackers in 2018
              • Figure 1: Estimated unit sales of wrist-worn wearable devices, by product category, 2016-18
            • Smartphone updates and rising usage driving wearable tech innovation
              • Figure 2: Ownership of smartphones, January 2012-September 2018
            • Companies and brands
              • Apple Watch 4 launched in September 2018
                • Samsung launches new smartwatch under the Galaxy brand
                  • The consumer
                    • Smartwatch ownership expected to return to growth
                      • Figure 3: Ownership of wearable devices, December 2016-September 2018
                    • Fitbit is the most popular brand in wrist-worn technology…
                      • …but the Apple Watch is the most popular among men
                        • Figure 4: Wrist-worn device ownership, by brand, September 2018
                      • Over three in 10 people intend to buy wearable technology in the next year
                        • Figure 5: Intent to buy wearable technology, September 2018
                      • Battery life is the biggest factor for those looking to buy wrist-worn devices
                        • Figure 6: Important factors in boosting wrist-worn device ownership, September 2018
                      • Six in 10 owners use wrist-worn technology every day
                        • Figure 7: Wrist-worn technology use, September 2018
                      • A quarter of smartwatch owners use it most often for exercise
                        • Figure 8: Smartwatch activities, September 2018
                      • Health and wellness is the leading area of interest for wearable technology
                        • Figure 9: Uses of wearable technology, September 2018
                      • Over seven in 10 feel wrist-worn technology has improved their physical health
                        • Figure 10: Attitudes towards fitness tracking wearables, September 2018
                      • Seven in 10 still see smartwatches as too expensive
                        • Figure 11: Attitudes towards smartwatches, September 2018
                      • Half of people prefer smartwatches from tech companies over fashion brands
                        • Figure 12: Attitudes towards wearable technology, September 2018
                      • What we think
                      • Issues and Insights

                        • Wearables market can benefit from health focus and digital detox trend
                          • The facts
                            • The implications
                              • How far can the smartwatch market grow?
                                • The facts
                                  • The implications
                                  • The Market – What You Need to Know

                                    • Smartwatch sales set to overtake fitness trackers in 2018
                                      • Other wearable technology products remain niche markets
                                        • Smartphone updates and rising usage driving wearable tech innovation
                                          • Focus on health and fitness continues to drive interest in wearables
                                            • Increasing choice of styles and brands for smartwatch shoppers
                                            • Market Size and Segmentation

                                              • Smartwatch sales set to overtake fitness trackers in 2018
                                                • Other wearable technology products remain niche markets
                                                  • Figure 13: Estimated unit sales of wrist-worn wearable devices, by product category, 2016-18
                                              • Market Drivers

                                                • Smartphone updates and rising usage driving wearable tech innovation
                                                  • Figure 14: Ownership of smartphones, January 2012-September 2018
                                                • Consumer electronics spending could be limited by import prices
                                                  • Figure 15: Proportion of consumers who have bought electrical equipment in the last three months or plan to in the next three months, June 2012-July 2018
                                                • Focus on health and fitness continues to drive interest in wearables
                                                  • Figure 16: Fitness mobile app usage, July 2018
                                                • Increasing choice of styles and brands for smartwatch shoppers
                                                  • Discounted models
                                                  • Companies and Brands – What You Need to Know

                                                    • Apple Watch 4 launched in September 2018
                                                      • Samsung launches new smartwatch under the Galaxy brand
                                                        • Gamin increasingly moving beyond sports and into the smartwatch market
                                                          • Fitbit expands smartwatch range with the Versa
                                                            • Snapchat releases updated range of Spectacles
                                                            • Launch Activity and Innovation

                                                              • Apple Watch 4 launched in September 2018
                                                                • Figure 17: Apple Watch Series 4
                                                              • Samsung launches new smartwatch under the Galaxy brand
                                                                • Figure 18: Samsung’s Galaxy Watch in three designs
                                                              • Gamin increasingly moving beyond sports and into the smartwatch market
                                                                • Figure 19: Garmin’s Fenix 5S Plus, 5X Plus, and 5 Plus smartwatches
                                                              • Fitbit expands smartwatch range with the Versa
                                                                • Figure 20: Fitbit’s Versa smartwatch
                                                              • Fashion labels look to offer more stylish smartwatches
                                                                • Figure 21: Armani Exchange Connected range of smartwatches
                                                              • Snapchat releases updated range of Spectacles
                                                                • Oura ring offers constant wearable data collection
                                                                  • Figure 22: The Oura smart ring
                                                                • New launches in the smart clothing segment
                                                                • The Consumer – What You Need to Know

                                                                  • Smartwatch ownership expected to return to growth
                                                                    • Fitbit is the most popular brand in wrist-worn technology
                                                                      • The Apple Watch is the most popular among men
                                                                        • Over three in 10 people intend to buy wearable technology in the next year
                                                                          • Men showing far higher intent to buy wearable technology
                                                                            • Battery life is the biggest factor for those looking to buy wrist-worn devices
                                                                              • Six in 10 owners use wrist-worn technology every day
                                                                                • Health and wellness is the leading area of interest for wearable technology
                                                                                  • The majority feel wrist-worn technology has improved their physical health
                                                                                    • Seven in 10 still see smartwatches as too expensive
                                                                                    • Wearable Technology Ownership

                                                                                      • Smartwatch ownership expected to return to growth…
                                                                                        • …while wearable camera ownership stagnates
                                                                                          • The “hearables” segment is one to watch
                                                                                            • Figure 23: Ownership of wearable devices, December 2016-September 2018
                                                                                          • Men much more likely to own smartwatches…
                                                                                            • …but peak ownership for all wrist-worn tech is among 25-34-year-olds
                                                                                              • Figure 24: Wrist-worn technology ownership, by gender and age, September 2018
                                                                                            • Fitbit is the most popular brand in wrist-worn technology…
                                                                                              • …but the Apple Watch is the most popular among men
                                                                                                • Figure 25: Wrist-worn device ownership, by brand, September 2018
                                                                                            • Intent to Buy Wearable Technology

                                                                                              • Over three in 10 people intend to buy wearable technology in the next year
                                                                                                • Figure 26: Intent to buy wearable technology, September 2018
                                                                                              • One in 10 people are planning to buy in four or more wearable tech categories
                                                                                                • Figure 27: Repertoire of intent to buy, September 2018
                                                                                              • Men showing far higher intent to buy
                                                                                                • Figure 28: Intent to buy wearable technology, by gender, September 2018
                                                                                              • Battery life is the biggest factor for those looking to buy wrist-worn devices…
                                                                                                • …while four in 10 looking to buy want cellular service
                                                                                                  • Figure 29: Important factors in boosting wrist-worn device ownership, September 2018
                                                                                                • Strong battery life and cellular service together would motivate three in 10 people
                                                                                                  • Figure 30: TURF Analysis – Influential features of smartwatch/fitness band/sports watch, September 2018
                                                                                              • Usage of Wearable Technology

                                                                                                • Six in 10 owners use wrist-worn technology every day
                                                                                                  • Figure 31: Wrist-worn technology use, September 2018
                                                                                                • A quarter of smartwatch owners use it most often for exercise
                                                                                                  • Figure 32: Smartwatch activities, September 2018
                                                                                                • Health and wellness is the leading area of interest for wearable technology
                                                                                                  • Figure 33: Uses of wearable technology, September 2018
                                                                                                • Women are placing greater emphasis on wearable technology for health
                                                                                                  • Figure 34: Uses of wearable technology, by gender, September 2018
                                                                                                • Half of 25-34-year-olds would use wearable technology to monitor health
                                                                                                  • Figure 35: Uses of wearable technology, by age, September 2018
                                                                                              • Attitudes towards Wearable Technology

                                                                                                • Over seven in 10 feel wrist-worn technology has improved their physical health…
                                                                                                  • …but this declines to just over half when it comes to mental health
                                                                                                    • Figure 36: Attitudes towards fitness tracking wearables, September 2018
                                                                                                  • Seven in 10 still see smartwatches as too expensive
                                                                                                    • Figure 37: Attitudes towards smartwatches, September 2018
                                                                                                  • Half of people prefer smartwatches from tech companies over fashion brands
                                                                                                    • Four in 10 people aged 16-34 feel technology use is impacting mental health
                                                                                                      • Figure 38: Attitudes towards wearable technology, September 2018
                                                                                                  • Appendix – Data Sources, Abbreviations, and Supporting Information

                                                                                                      • Abbreviations
                                                                                                        • Consumer research methodology
                                                                                                          • TURF – Methodology
                                                                                                            • Figure 39: Table - TURF Analysis – Influential features of smartwatch/fitness band/sports watch, September 2018

                                                                                                        Wearable Technology - UK - November 2018

                                                                                                        US $2,552.20 (Excl.Tax)