India To Become A Huge Market for Wearable Tech

by CXOtoday News Desk    Jan 10, 2014

wearables

India is likely to become a big market for wearable technologies like smartwatches, Google glasses and fitness monitors, with consumers showing an increased interest in these latest smart connected devices, according to consulting firm Accenture.

In its latest Digital Consumer Tech Survey, of more than 6,000 people in six countries, consumers in India ranked highest in their keen interest in buying wearable technologies, said the consulting firm stating that four out of five respondents from India are willing to buy some kind of wearable tech. 80% of Indians were most interested in buying fitness monitors for tracking physical activity and managing their personal health followed by smartwatches (76%) and Internet-enabled eyeglasses (74%).

Globally too, the survey found that over 50% of consumers are interested in buying wearable technologies such as fitness monitors. In countries such as Australia, Canada, India, South Africa, UK and the US, 52% have shown an interest in fitness monitors, 46% in smartwatches and 42% in buying Internet-connected eyeglasses.

Wearable technologies deliver a wide range of capabilities, states Accenture. For example,  fitness monitors track a person’s heart rate and calories burned, while Internet-connected eyeglass displays enable consumers to browse the Internet, take digital photos and receive hands-free notifications. Among the six countries, consumers in India were most interested in buying fitness monitors (80%), smart watches (76%) and Internet-enabled eyeglasses (74%).

India is clearly a major growth market for consumer electronics. Craving more personalized digital experiences, the country’s consumers rank among the world’s most willing to pay for and use consumer electronics devices - including wearable technologies.
-Mattias Lewren, global managing director of Accenture’s Electronics and High-Tech industry group

“In the past year wearable technologies have emerged as the next big consumer electronics market category, particularly for health and wellness,” said Mattias Lewren, global managing director of Accenture’s Electronics and High-Tech industry group. “To capitalize on this growth opportunity, consumer electronics companies should consider investing in wearable product innovation and industrial design, and building ecosystems that connect wearables to the broader array of interactive digital networks. Every consumer is a digital consumer, and the keen interest in wearable technology provides further evidence of that.”

In addition, the survey found significant consumer interest in purchasing phablets, an emerging category of mobile devices that combine smartphone and tablet PC functions while featuring a screen size of five-to-seven inches — in between a traditional smartphone and a tablet PC. The survey also unveiled strong purchase plans over the next year for traditional smartphones, HDTVs, laptops and tablet PCs.