[April 21, 2015] |
|
Young, High Income Consumers Lead the Smartwatch Revolution
The Apple (News - Alert) Watch release could be the shot that sets smartwatch adoption
off to the races. The opportunity is great: wearables owners today are
gold-standard customers: high income, younger, and extremely engaged in
digital banking, payments, and shopping. Smartwatches are unique
devices, designed for lightning-fast and personalized interactions.
Today, Javelin Strategy & Research released What
Apple Watch Means for Banking and Payments which analyzes the first
banking and payments wearable apps, interprets Apple's developer
guidelines from a financial solution lens, and identifies the key
features wearables owners crave.
Wearables are in the early stages of adoption, but that may start to
change with Apple entering the ring. Today, 6% of all consumers own a
smartwatch and 12% have a health-monitoring band. This level of device
adoption is comparable to that of smartphones and tablets when Apple
released the first-generation iPhone (News - Alert) and iPad. Moderate percentage point
gains in consumer smartwatch adoption can be expected over the next year
if the Apple Watch follows historical patterns. Javelin estimates Apple
will ship 15 million Apple Watch devices its first year on the market.
"For Apple, the real test comes in the second year, when the 'fast
followers' come on board. At that point, smartwatches are expected to
net annual double-digit gains in overall consumer adoption," said Mary
Monahan, Research Director - Mobile at Javelin. "All of this means
that until 2016, consumer adoption will not likely be large for
smartwatches even under optimistic models, but the desirable first
adopter segment promises to be younger, wealthier and tech savvy."
Learn More: What
Apple Watch Means for Banking and Payments
Related Javelin Research
About Javelin Strategy & Research
Javelin Strategy & Research, a Greenwich Associates LLC company,
provides strategic insights into customer transactions, increasing
sustainable profits for financial institutions, government, payments
companies, merchants and other technology providers. Javelin's
independent insights result from a uniquely rigorous three-dimensional
research process that assesses customers, providers, and the
transactions ecosystem.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150420006817/en/
[ Back To Mobile World Congress's Homepage ]
|