According to a report from our sister site mHealthWatch, wearable technologies are among the hottest gadgets in the market today. But are these hot devices about to cool considerably?
New data from NPD Group shows that wearables will, indeed, wear out their welcome with many consumers in as little as two years. But the slowdown won’t be permanent.
NPD believes this market’s growth will retreat within the next 24 months before returning to a growth period in 2018. At that time, however, the rebound growth will still be much more subtle than the accelerated growth the wearables market is presently enjoying.
“We expect that the dynamics of the wearables market will be similar to DVD, LCD TV, smartphones, and other digital consumer markets with commoditized hardware,” explains Paul Gray, director of European TV research for NPD DisplaySearch.
“The arrival of Samsung, LGE, and other large, cost-efficient manufacturers to the wearables market would bring prices and margins down,” Gray concludes.