One of the most popular technology trends of late is the rise of wearable smart devices and, of course, the Apple Watch. Apple’s wearable offering has had consumers and techies alike excited since it was announced in September 2014, and it continues to make waves in the tech community. Its U.S. release date was April 24, and the company is still filling pre-orders nearing the end of June, according to International Business Times.
The market for smart watches has skyrocketed of late. Apple is, once again, on top of the current trends with their product, and consumers are buying it in droves. Business Insider estimated in May that the market will grow at a compound annual rate of 35 percent over the next five years. BI also reported that the Apple Watch will account for 40 percent of smart watch purchases in 2015 and will reach 48 percent share in 2017. One of the catches of the Apple Watch is that most of its applications require an iPhone 5 or higher to operate, but that hasn’t seemed to hold back the hordes of people who have already purchased the watch, which starts at $349.
Global reception so far
The hefty price tag isn’t keeping people away. In the U.S., the Apple Watch continues to see success. According to Tech Radar, sales estimates from the pre-order period of the device indicated that nearly 1 million people purchased the device in one day, which is more than Android Wear sold during all of 2014. Mid-June, Reuters reported numbers from Slice Intelligence that indicate Apple had sold 2.79 million watches since its debut in April.
However, the product was launched in Singapore June 26, and CNBC reported it hasn’t gotten the same sterling reception it enjoyed elsewhere around the world. Not very many people were waiting in line when electronics stores opened their doors on Friday morning. Some attribute the lackluster reception to the fact that the younger generation doesn’t often wear a watch – a hurdle Apple will have to contend with all over the globe.
What’s next for the Apple Watch?
According to International Business Times, there are already rumors of a second Apple Watch circulating around the Internet. The new device will most likely include new applications and reiterations of old Mac offerings, including a FaceTime application and tetherless capability.
To stay up-to-date on Apple news and other breaking tech news, don’t forget to visit our Electronics, Hardware and Devices page.
