New figures from Juniper Research Group have shown that the Apple watch not only is leading the wearables market, but completely dominating the space. Juniper Research have revealed that the tech giant has seized over 50% market share since launching the Apple Watch in April of 2015. The research also shows that the market domination is coupled by all other competitors not even coming close to the market share that Apple is enjoying. Apple’s main competitor in this space being Android Wear only achieved a 10% market share.
Other key findings from Juniper Research include:
- The smartwatch ecosystem is growing rapidly, with dedicated software companies emerging to supply both games and productivity-based apps.
- While the price point remains high for smartwatches, finance deals with retailers will be a key part in mitigating this concern, as well as making smartwatches more visible to general consumers.
The research calls the wearables market a “Segment now waiting for a market” and predicts that the wearables sector will explode when one of the major players produces something radically different from the competition.
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