Apple’s entry into the smartwatch market will drive sales to $400 million, claims technology firm Telsyte.
The technology analysts predict wearables — specifically smartwatches — will grow in popularity with sales expected to exceed $400 million by 2018.
Apple’s impending Watch launch is expected to buoy the industry “by at least 50 per cent”. Rival Samsung, which is already on its third generation of smartwatches, is the current market leader.
People aged from 25-to-44 are the most likely to buy a smartwatch. New fitness applications will spur demand, said Foad Fadaghi, the Managing Director of Telsyte.
“Half of all smart fitness band users are looking to upgrade to a smartwatch, creating a potentially vibrant new product category."
Over 800,000 smart wristbands, such as those made by Fitbit and Garmin, were sold in 2014.
Australians want a smartwatch to be easy to use, well priced and have long battery life, concludes Telsyte’s Australian Smartphone & Wearable Devices Market Study 2015.
Apple’s Watch was revealed in September of 2014. The company has yet to announce when it will go on sale other than claiming it will be in 2015.
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