PROSPECTS AND OPPORTUNITIES
Battery life along with fashion aspect to remain important features
Demand for wearable electronics is predicted to continue growing in Australia over the forecast period, albeit at a slower rate compared to the highs of the review period due to increasing maturity and penetration. As these devices complement consumers’ lifestyles, battery life becomes a crucial element of the purchasing decision for consumers when choosing wearable electronics, as their use and functionality rely mostly on being able to work without problems during their normal day.
Australia’s ageing population to maintain interest in health
As the proportion of Australia’s population aged 65+ years continues to increase over the forecast period, it is important to raise awareness of the benefits of wearable electronics to keep health metrics under control as part of active lifestyles. Features such as a heart monitor and exercise metrics are likely to be beneficial to consumers’ health goals and maintaining awareness of the need to be mindful of potential issues in the coming years as they age.
5G should positively influence sales
Australia is investing heavily in the rollout of 5G with it aiming to reach 95% of the population by 2025. The rollout of 5G should help to reduce the dependency on other devices, such as smartphones, as 5G connectivity should facilitate significant improvements in the battery life of wearable electronics.
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Overview:
Understand the latest market trends and future growth opportunities for the Wearable Electronics industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Wearable Electronics industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Wearable Electronics in Australia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Wearable Electronics in Australia?
- Which are the leading brands in Australia?
- How are products distributed in Australia?
- How is the rise of e-commerce changing the retail landscape?
- How has COVID-19 and accordant macroeconomic and retail disruption impacted consumer demand?
- How are considerations such as urban development and the rise in single-person households driving sales growth?
- Where is technology taking the market? Which products are pioneering growth? Which face obsolescence?
- Where is future growth expected to be most dynamic?
Wearable Electronics in Australia - Category analysis
KEY DATA FINDINGS
Health and wellness trend continues to drive demand for wearable electronics
Digital options continue to appeal to consumers due to greater functionality
Australians maintain preference for Apple Watch, driven by dominant smart wearables
Battery life along with fashion aspect to remain important features
Australia’s ageing population to maintain interest in health
5G should positively influence sales
Consumer Electronics in Australia - Industry Overview
Consumer electronics in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer electronics?
DISCLAIMER
The following categories and subcategories are included:
Wearable Electronics
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- Activity Bands
- Activity Watch (Analogue)
- Activity Watch (Digital)
- Smart Wearables
Wearable Electronics
Electronic devices designed to be worn by the user, typically on the wrist or head. The category only covers products designed for retail sale and consumer usage. Products designed for use in medical, military and any other profession such as diving are excluded.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Wearable Electronics research and analysis database.
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