It was Apple who set the trends for PC, smartphones, and tablet markets, now the question is: will it be able to set a new trend for wearables market?
Apple is about to debut its own smartwatch, which is called iWatch by many. On the same day, the company is also going to unveil the newest iPhone and a new mobile payment system. The event is happening in Cupertino, California, close to its corporate headquarters.
Among the new releases, it is the iWatch that’s expected to be the center of everyone’s attention and people cannot wait to know if this new device will be able to get the same impact other devices Apple has released over the years.
According to an analyst at Forrester, James McQuivey, the iWatch will be one of Apple’s most significant launches in years. The market researcher company also expects Apple to sell over 10 million smartwatches through 2016. That is if Apple manages to put its phone-based services on the smartwatch. When the company is able to do that, it will get the same attention and interest as iPhone and iPad.
Experts like McQuivey are expecting Apple to put the wearable device market on the map. From a new data by Forrester, at least 42% of American adults are intrigued by a wrist-based device, while 25% of American adults are planning to purchase a wearable device next year.
Apple is bound to become a leader in the market by next year so it can expect competition from Amazon.com and Google.
Just like with its other devices, Apple is not the first company to offer a wrist-band device, but according to analysts, it is most often the first one to get it right. It also helps that Apple can market a device better than other brands.
That’s why even though smartwatches are not totally news to everyone, given that there are quite a few well-received wearable devices available on the market, majority of consumers have yet to notice these kinds of devices.
On the other hand, analysts are not expecting for the new market to catch on to the public overnight. Although there’s already a consumer awareness of these devices – three out of four people say they do know about wearable devices – only a small percentage of 2$ own them.
So maybe it’s not yet the year for the wearable to dominate the market. What does it need for the market to catch on – a “magic product,” says Cathy Boyle of eMarketer, and she thinks that Apple might be it. The analyst is expecting the wearables market will have its moments in 2016.
While the details of the iWatch – if that’s really what it’s called – still remain a mystery, analysts are already anticipating its impact to Apple’s customers. Some analysts are more ambitious claiming that the company could sell 30 million to 60 million smartwatches in just a year.
One thing is for sure, many Apple’s loyal customers will definitely want to have one because nearly all of them trust the company with anything they come up with.