70% of Consumers Are Aware Wearable Tech
Kicking off the year in technology for 2014 was the Consumer Electronic Show (CES). During CES the biggest trend technology fans found was the advancement in wearable technology. We even wrote about our own thoughts on attending CES and the trend to wearable technology earlier this year. While companies continue to develop and produce various wearable technologies the question is do people really want them?
Recently Nielson published their latest research on the awareness and expressed interest in wearable technology. After conducting a survey that included 3,956 participants 18 years or older 70% of consumers said that they are aware of what wearable technology was. Of those surveyed 15% of the participants said that they currently own wearable technology in some form.
Currently the most common wearable devices on the market currently are the Samsung Galaxy Gear and Pebble Smartwatch. But as we saw at CES 2014 and the Mobile World Congress 2014 there will be a major push in the wearable technology market this year. We’ve already heard a number of product announcements centered wearable technology, including the LG Lifeband Touch, Pebble Steel, Sony Core and Razer Nabu.
Now, when taking a closer at the current users of wearable technology Nielsen revealed that 48% of those owners are between 18-34 with men and women equally using wearable technology. With wearable technology still in its infancy it is not surprising to find out that 29% of wearable technology owners have an income over $100,000. During this period we see that early adopters make up a good portion of the market and that is the stage where wearable technology currently is in. This early adopter stage wearable technology is in is further solidified with Nielsen’s findings that 35% of the market that purchasing wearable devices is doing so in order to “supplement their smartphone addiction.”
These results are compared to the 61% and 17% of respondents that said they bought a wearable device as fitness bands and to monitor their health, respectively. This is interesting to note as fitness has been another major push for companies when they are marketing their new wearable devices. Many devices, such as the next generation Samsung Galaxy Gear, are integrating technology that will monitor your fitness and health on the device.
While all of these numbers show that there is a healthy interest in purchasing a wearable device there seems to be some barriers to entry for some consumers. In Nielsen’s research showed that people would like to see wearable devices take on a more fashionable look, with 53% of participants wanting to see wearable devices to look more like jewelry. That is something that wearable device producers have taken notice as shown by devices such as the Pebble Steel.
To see more of the impact of wearable devices around the world Peter Brown on behalf of Vision2You created this cool infographic.