India is poised to become a huge market for wearable technology like smartwatches and fitness monitors, driven by keen consumer interest in these latest gadgets and increasing spending on consumer durables, consulting firm Accenture today said.
According to Accenture’s Digital Consumer Tech Survey 2014, respondents from India were most interested in buying fitness monitors (80 per cent), smart watches (76 per cent) and Internet-enabled eyeglasses (74 per cent).
About 80 per cent said they plan to buy a smartphone, 69 per cent a High Definition TV, 65 per cent a traditional tablet PC, and 63 per cent a laptop PC.
“India is clearly a major growth market for consumer electronics. Craving more personalised digital experiences, the country’s consumers rank among the world’s most willing to pay for and use consumer electronics devices — including wearable technologies,” Accenture Global MD (Electronics and High-Tech industry group) Mattias Lewren said.
Globally, 52 per cent said they were interested in buying wearable technologies like fitness monitors for tracking physical activity and managing their personal health.
About 46 per cent said they wanted to buy smart watches, while 42 per cent said they were interested in purchasing Internet-connected eyeglasses.
The survey was conducted across Australia, Canada, India, South Africa, the UK and the US and covered more than 6,000 people.
Wearable technologies can be used for a range of applications like tracking a person’s heart rate and calories burned through fitness monitors or enabling consumers to browse the Internet, take digital photos and receive hands- free notifications through Internet-connected eyeglass displays.
“In the past year wearable technologies have emerged as the next big consumer electronics market category, particularly for health and wellness,” Lewren said.
To capitalise 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, Lewren said.
Globally, 52 per cent respondents said they plan to purchase a smartphone next year, while 40 per cent voted for a tablet PC.
Similarly, 41 per cent said they intend to buy a HD TV, 38 per cent a laptop, 25 per cent home game consoles, 23 per cent Global Positioning Satellite (GPS) navigation units and 22 per cent ebook readers.