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The Current & Future State of Wearables

The Consumer Electronics Association (CEA)'s Shawn DuBravac explores where wearables are going including forecasts for key categories, motivations for purchases and desires for future product features
by

Shawn DuBravac, PhD

on 16 September 2014

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Transcript of The Current & Future State of Wearables



Shawn G. DuBravac, PhD
Chief Economist &
Director of Research
Consumer Electronics Association
@twoopinions
shawnd@CE.org
202.556.3434
Who's Buying Wearables?

Evenly Split Between
Women and Men
What Might the Future Hold?
.
.
.
Shawn G. DuBravac, PhD
Chief Economist & Director of Research
Consumer Electronics Association
@twoopinions

The Current &
Future State of Wearables
Fitness and activity tracking devices & smart watches both estimated to surpass
$1B
in the US in
2014
2014
Shaping Up to be
the Year of the Wearable
4 Key Trends Driving the
Wearable Phenomenon
1) The 'Sensor'ization of
Consumer Tech
2) Digitalization of our
Physical Space
3) Customization of our Tech
Experience
4) The Internet of Me!
Presentation available at:
bit.ly/2014wearables
22M-28M
Wearable Devices Shipping Globally in
2014
50%-80% Growth
$4.5B-$9B
in Wearable Device Revenue Globally in
2014
55%-200% Growth
What Do Consumers Want?
Hugo Gernsback, 1963
60% of US adults plan to purchase a fitness CE product for themselves in the next year

Will Wearables Open New Retail Channels for Tech?
Challenges
Fragmentation of Uses
Key Statistics Consumer Currently Want to Track

1) Calories burned (64%)
2) Distance (60%)
3) Heart rate (56%)
4) Steps taken (54%)
5) Weight (51%)
6) Calories consumed (46%)


Why do Consumers use
the Fitness Tech they Own?

1) Keep me motivated (52%)
2) Progress towards goals (47%)
3) Monitor physical activity (46%)
4) Make exercise more enjoyable (38%)

What Would Encourage Consumers to Use Their Fitness Tech More Often?
2. Behavior Changes

1. Development of a Wearables Component Market
3. Use-case Scenarios
4. Technical Standards
5. Replacement Demand
Standardize what is measured and how
Create common terminology
Enable Interoperability

With Significant Upside
Percent of US Adults Owning
Smart Watches 2%
Wearable Body Monitors (ie activity trackers) 5%
Fitness Watches 5%

Top Reasons for Not Exercising:
No Motivation (42%)
Too Tired (30%)
Not Enough Time (27%)



Percent of HHs Who Say They'll "Never Own it"
Wearable body Monitor 65%
Fitness watch with tracking capabilities 64%
smart watch 64%
3DTV 61%
Smart Thermostat 60%
Previous Gen Video Game Consoles 60%

Smartphone 28%

frequency of use
source: CEA Research
source: CEA's
U.S. Consumer Electronics Sales & Forecasts
source: CEA's
16th Annual Household Ownership & Market Potential Study
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
Wearable Demographics
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
source:
CEA's 16th Annual Household Ownership & Market Potential Study
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
source: CEA's
Understanding the Market for Wearable Health and Fitness Devices
Full transcript