A study by Juniper Research has estimated that sales of hybrid connected watches will soar to 80 million units in 2022 from 14 million in 2017.
The report also suggests that there will be a 50/50 split in the connected watches market, with analogue hybrids and touchscreen models like Apple Watch each accounting for 50% of the market.
Touch screen models are currently ahead in unit shipments, but while that market is expected to grow by 160% by 2022, the hybrid market will expand by 460%.
“We started in 2015 with Horological Smartwatches. Both Frederique Constant and Alpina smartwatch collections have been growing in past years. The horological smart watches now account for around 12% of our sales, so it has developed into an important category.”
“I feel that the Swiss watch industry still doesn’t understand how much the Apple watch and other smart watches have eaten into the figures, particularly the figures for quartz movements. The Apple Watch Series 3 is the next level, which moves from notifications and fitness tracking to health orientation. I think this is where we will start to see the true benefits of the smart watch and once again Apple is in the lead. They are starting to inform people if their resting heart rate is too high and are even branching out into medical information. Apple has sold 18 million watches and when I go to the US I see more and more people wearing Apple Watches. The Apple Watch is now in its third generation and who knows what they will bring with the fourth generation. If they start to adapt the case and have something other than just a black screen then the Swiss watch industry could be heading for trouble. I still say quite frankly that many of my colleagues in the industry don’t know what is happening.”