Smartwatch Market: On Your Mark, Get Set, Go!

Smartwatch Market On Your Mark, Get Set, Go!Throughout 2014, MMW has covered multiple reports that called for the smartwatch market to accelerate this year if — and primarily if – Apple entered the fray.

Now that the iconic iDevice maker has unveiled Apple Watch, the smartwatch industry is off to the races.

“As smartphone vendors and component suppliers continue to expand into the wearables market, Gartner, Inc. predicts that by 2016 smartwatches will comprise about 40 percent of consumer wristworn devices,” a report summary by Gartner provided to MMW reads.

Gartner said that seven out of the top 10 smartphone vendors have entered the wearables market to date or are about to ship a first product, while a year ago only two vendors were in that space.

“Apple has finally unveiled its Apple Watch, which we expect to trigger more consumer interest once it starts shipping in 2015,” said Angela McIntyre, research director at Gartner. “Apple introduced three smartwatch models that will sell at a wide price range, with the lowest starting at $349. As with the iPhone, Apple’s high-price strategy for the Watch will limit its market share; yet, with its attention to design and the user interface, we believe this product will attract many users.”