The IoT engine
The Internet of Things is not with us yet. Despite the hype around wearables, global consumers have modest purchase intentions over the next year, with just 12% planning to buy a wearable fitness monitor - however, within five years, 40% plan to do so. Within the next 12 months, 12% intend to buy a smartwatch, though 41% aim to get their hands on this kit within five years, according to Accenture’s Engaging the Digital Consumer in the New Connected World survey.
The research finds that revealed purchase intentions are trending downward in a number of major and tech categories. While just over half intend to buy a smartphone in the next year, this is a four-point drop from last year. And where 38% intend to buy a tablet in the next 12 months, that’s down from 44% last year. Similarly, 36% are looking to buy a HD TV, an eight-point drop from last year.
“High tech companies need to replace lost revenues with sales in new categories such as wearable health and fitness monitors,” says Sami Luukkonen, md for Accenture’s electronics and high tech group. “These categories are prime examples of the expanding Internet of Things market, which will be a critical high tech growth engine for many years to come.”