About 130 million consumers will have wearable devices by 2018, according to the latest report from analyst firm Juniper Research.
This is a ten-fold increase on Juniper’s last estimate published earlier this year as it expects a rise in consumer awareness carried out by new product launches.
However, the report also warned of a number of social and legal barriers, in particular privacy concerns from carrying concealed recording equipment, which may inhibit adoption of the technology.
Additionally, in another recent report, Gartner said the market would remain small if manufacturers did not improve the functionality of the device, adding that smart watches and glasses are not likely to top wish lists this Christmas as consumers opt for tablets and fitness bands instead.
While Annette Zimmerman, principal research analyst at Gartner, recognises the convenience of using a watch for interaction, she reckons product releases so far have been uninspiring in terms of design, available apps and features.
The pricing of smart watches, about $200 to $300, is also another reason for the slow takeoff as consumers feel they can buy tablets with better features for the same price.
Currently, the market is quite young for smart watches, with competitors, such as Samsung, Pebble and Meta, recently hitting the market with new products and Apple set to launch an iWatch next year.
Models usually come with various technical capabilities based on the speed of processors, display technology, type of sensors, connectivity and operating systems.
