The sales of smartwatches in the United States are absolutely soaring, which puts the relatively stagnant market for smartphones to shame. The proportion of adult Americans who own an intelligent watch has increased to almost 16 percent, up from 12 percent a year ago.
This information comes from a report that was made public by the NPD Group. It should come as no surprise that people in the age bracket of 18 to 34 have the highest market penetration. The percentage of people who have smartwatches has reached 23 percent.
However, this is still a significant distance from smartphone market penetration, which is estimated to be around 70%.On the other hand, wearables are making steady progress in closing the gap, and they will continue to do so in the years to come. According to NPD’s predictions, the sector will grow in the future because people are living longer and more people are using watches to control their smart home appliances.
The value of smartwatch sales in the United States reached $5 billion in the twelve months leading up to the end of November 2018 (the most recent month for which data is available), representing a 51 percent increase. During this time span, unit sales increased by 64 percent, which is an indication that the pricing of such gadgets is becoming more affordable.
The fact that smartwatches have only just begun to gain widespread use is excellent news for companies that already sell or plan to sell such devices in the future. According to NPD, these brands currently account for 88 percent of all units sold. These brands include Apple, Samsung, and Fitbit. In addition, Garmin and Fossil have carved out a major portion of the market. Google does not currently have a presence in the market for smartwatches, but it is anticipated that the company will soon enter the market with its Pixel Watch.