In its latest U.S. mobile accessories analysis survey, ABI Research, the leader in transformative technology innovation market intelligence, finds only 35% of respondents are considering buying a smart watch in the next 12 months.
Additionally, more than 80% cite that their primary reason for not buying a smart watch is because they believe that their smartphones can adequately address all necessary tasks.
“Most consumers remain under the impression that a smart watch is a smartphone accessory rather than an independent device,” says David McQueen, Research Director at ABI Research. “Though market growth is slow, the smart watch will gain attention in due time if manufacturers focus on strategically branding the smart watch to differentiate it from a smartphone.”
For manufacturers to market the smart watch to appeal to consumers, pricing is critical. Only 24% of survey respondents who expressed interest in purchasing a smart watch would pay more than $300. However, ABI Research market data shows that the average selling price for the smart watch in 2015 was USD$316.
Fashion is also paramount. Potential manufacturers of smart watches should be aware that, according to the survey, a fashionable appearance ranks of higher importance than voice or audio capabilities.
“Although respondents perceive voice functionality as less important, voice interaction will help fit more features in a smaller, fashionable package,” according to ABI Research Vice President Sam Rosen, “Some of the most desired consumer features—message alerts and phone call alerts—are proliferating to more basic and lower cost fitness bands as well as traditional watches, further reducing the value to undecided users.”
These findings are part of ABI Research’s Mobile Device Accessories Service (https://www.abiresearch.com/market-research/service/mobile-device-accessories/), which includes research reports, market data, insights, and competitive assessments.
