Wearables in Asia
Despite the the Apple Watch only being 3 years old, the sales of the iconic watch have reportedly already surpassed the entire Swiss watch industry in 2017!
It is astonishing in which Apple created yet another major product line from scratch and how other brands are playing catch up.
As a whole, the wearable industry made up of Smart Watches and Fitness Trackers is slated to be worth US$25 billion by next year.
So we got interested and checked with our panel members on their adoption.
49.8% of our panellists owned either a Smart Watch and/ or Fitness Tracker.
Highest wearable adoption rate are the Thai, Chinese and Vietnamese.
It is somewhat noteworthy to observe the lowest adoption rates are among the Japanese and Korean.
The brands leading the industry are the usual suspects: Apple and Samsung, which has 21.8% ownership each.
Other top brands are:
- Xiaomi 17.1%
- Fitbit 9.9%
- Huawei 5.1%
The same brands lead the consideration set for potential buyers.
Speaking of which, the huge prospect for wearable could be in Philippines and Indonesia market, who had 43% of the non-owners of wearables indicated their interest to lay their hands on one.
Countries/Regions: China, Hong Kong, Indonesia, India, Japan, South Korea, Singapore, Malaysia, Thailand, Taiwan, Philippines, Vietnam
Sample Size: 3600
Sample Source: Rakuten Insight proprietary panel.
Survey Timing: August 2018
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