Apple Watch is set to boom and, according to Futuresource Consulting, a large part of this will come from existing iPhone users.
The latest perspectives report has covered six countries and found that 20 per cent of iPhone users intend to purchase an Apple Watch in the next 12 months. In the USA in particular, both iPhone penetration and Apple Watch acquisition propensity are high. However, the UK, where iPhone penetration is also high, and where there is traditional enthusiasm for new Apple products, has the lowest level of interest for Apple Watch.
Futuresource believes that the Apple Watch will be a big contender in the gifting market, especially as the range of available personal devices for this sector has reduced, due to the functions of a number of traditional consumer electronics devices absorbed into smart phones.
Apple Watch will also compete with conventional watches, and we are already witnessing most leading traditional watch brands introducing connected products to try and defend their market space.
The smart watch market has been a slow market to develop thus far, mainly due to the bulky and badly designed nature of earlier models. With newer, more stylish designs launching, Futuresource predicts that the market will grow significantly over the coming months, with Apple Watch accounting for a large proportion of that market.
“The launch of Apple Watch is likely to have a huge impact on the smart watch market,” commented Simon Bryant, Associate Director of Consumer Electronics, Futuresource Consulting. “The gifting market for Apple Watch will be particularly interesting. Tablets have been a key new gifting product over the last three years, yet with a saturated market for tablets, Apple Watch is likely to be a timely newcomer.”