Now that Apple Inc. (AAPL) has finally entered the smartwatch game, consumers can finally get down to business, comparing their options and deciding once and for all which device is the cream of the crop.
It took a long while for Apple to get involved, but as is often times the case, once its smartwatch was announced a chain reaction took place. In other words, Cupertino acted as a “smartwatch spark,” giving the industry the boost it needs to get up and running.
Gartner believes the worldwide smartwatch market is ready to take off and reach new heights. This has a lot to do with the new Apple Watch, but Android-based devices aren’t going to simply take a backseat.
According to Angela McIntyre, a Gartner research director:
“Apple has finally unveiled its Apple Watch, which we expect to trigger more consumer interest once it starts shipping in 2015.”
The Calm Before the Storm
Since the Apple Watch isn’t going to reach consumers until next year, you can consider this period the calm before the storm. There will be plenty of buildup over the next few months as consumers think about what the new watch from Apple will offer. Furthermore, the wait may hold some people back from purchasing from another vendor, not wanting to spend money on a device that can’t meet what Apple brings to the party.
Is Price a Problem?
Apple may be sparking this industry, but its high price tag could harm the company in the long run. With three models, the cheapest starting at $349, the Apple Watch seems to be head-and-shoulders above the competition. This is particularly true when you take into consideration the fact that Android based smartwatches will average $150, roughly half of Apple’s starting price.
The announcement of the Apple Watch is just what the smartwatch industry needed. This spark should be enough to push the market to new heights in 2015 and beyond. The only question left is this: which company will take and hold onto the lead?
As of this writing, Chris Bibey did not hold a position in any of the aforementioned securities.
