They are called wearableliterally “wearable”. A term that in the electronics market refers to all those devices with smart functions, designed to be worn. Smartwatches (watches), smartband (bracelets) and, more recently, smart rings, a real invasion that over the years has seen several companies enter this particular market. Yes, because contrary to what you might think, it was not Apple Watch that inaugurated the sector. The Cupertino company’s watch was in fact marketed in the spring of 2015, with Samsung’s Galaxy Gear presented instead in September 2013.
Products initially conceived to be extensions of the smartphone, in fact inseparable from the phone. Today the situation has changed and it is possible for example to use some smartwatches regardless of the presence of a smartphone, thanks to the integration of real operating systems and, above all, cellular connectivity. This is probably a crucial step to get to the heart of the matter: considering the over 10 years of sales, can these products be defined as a flop? The issue is complex and deserves further investigation.
Sales of smartwatches and smartbands below expectations: the data
The first ones wearable they were marketed at a historical moment in which the smartphone market was growing at double digits. Consider that in 2013, over 1 billion smartphones were sold, with a net growth of 38% compared to 2012. A trend that would also be repeated in the following years, at least until 2018. From that moment, also thanks to the saturation (in main markets, practically everyone has a phone), growth has stopped and today we are witnessing a stagnant situation: 2023 recorded the lowest volume of smartphones distributed in the world in a decade, as well as a decline of 3.2% compared to the previous year.
Wearables failed to get on the train. The brands’ reasoning at the time was very simple: everyone buys a smartphone and is therefore interested in accessories. Indeed, they have been years of incredible growth also for products such as covers, chargers and earphones. Smartwatches And smartband (bracelets that monitor heart rate and other parameters, which unlike smartwatches do not require connection to a smartphone) have not attracted the same attention, or rather expectations have been placed in them that are well above their commercial potential. One number above all: in 2015, 50 million wearables were sold, compared to over 1 billion smartphones. A somewhat impressive disproportion.
A situation that was repeated in the years to come, with sales estimates constantly disregarded. In 2016, the wearable market was expected to double in 2017, even +200% in 2018. Numbers that have never occurred, with the wearable market currently selling around 190 million pieces (data updated to 2023, pending to know the figures achieved in 2024).
But what are the reasons for this failure to take off?
Limited pricing and features in some markets: why wearables aren’t taking off
The question of prices certainly played a decisive role. The first generation Apple Watch started at 399 euros and could reach 649 euros depending on the configuration. The most recent model, however, the Serie 10, starts at 459 euros and reaches 859 euros in its most expensive variant. The smartwatches it has in fact become as expensive as a smartphone (excluding much cheaper models), without however being able to completely replace it.

Then there is the issue of functionality. THE wearable have become increasingly oriented towards monitoring a whole series of parameters related to health: control of the heartbeat, the level of oxygenation of the blood, even the possibility of perform an ECG (electrocardiogram). However, these possibilities are often limited in some markets due to more stringent laws on the subject compared to other territories. A practical example: in the United States the data collected by smartwatches have a medical value, so much so that they are also recognized by health insurance companies. Which cannot happen, however, in the European Union. A limit that prevented its diffusion in a segment of the population, the older one, who would have clearly benefited from it.
And then there is the issue of autonomy. Some models today even guarantee a week of use before needing to be recharged, but this forces them not to include a whole series of functions. Those that are more functionally complete rarely last longer than 24-48 hours. Quite a problem, considering how today we are already forced to recharge our smartphones, computers, tablets, etc wireless earphones.
The question is therefore very simple: i wearable they have failed to represent an indispensable accessory for smartphones. We’ll see if the next generation of wearable devices (perhaps made up of smart glasses and augmented reality viewers) and connectivity technologies (such as Bluetooth 6.0) will achieve the failed goal smartwatches And smartband.