The Rise of the Smartwatch: A Luxury Accessory That’s Here to Stay

smartwatch-round

At the Apple Watch Series 2 event, Apple CEO Tim Cook said the technology juggernaut is the second biggest watchmaker in the world, just behind Rolex. Despite Apple’s success and the close race with Rolex, there’s still some question on what it really means to invest in a smartwatch. Time Magazine argues that it doesn’t make sense to drop thousands on an Apple watch when the technology will become outdated and lose value in a few short years.

There may be some truth in the idea of outdated technology, but Fool.com points out that betting on Apple’s stock could be a lucrative investment. The company sold more Apple watches in its first two months than iPhones and iPads in that same period of time. So while a smartwatch may not be a collectible like a vintage Rolex, it could still take over the market as the newest must-have luxury accessory.

Rapid market expansion

The market share and growth of smartwatches looks promising and is poised for rapid growth. Allied Market Research reports that the smartwatch market is expected to reach $32.9 billion globally by 2020. But what those smartwatches will look like is also rapidly changing.

It’s no longer about strapping a miniature smartphone to your wrist. Luxury watch makers and fashion designers are also entering the market. And as more luxury smartwatch makers join the marketplace, many are abandoning the basic square design and favoring a look resembling a traditional watch. For example, the  is one of the few with a circular screen and rotating bezel.

Industry disrupter

Apple has already disrupted the luxury watch market, and it’s no surprise given the company’s experience doing so. We’ve already witnessed Apple disrupting the computer, phone and music industries with the introduction of MacBooks, iPhones and iPads. And in a world filled with smart technology and accessories including necklaces and cufflinks, a watch is no longer just a watch. A smartwatch takes the bulk of a smartphone and condenses it into a convenient and wearable device to not only check the time, but respond to texts, surf the web and watch videos.

Premium pricing

Smartwatches typically share similar features like texting, making phone calls and the ability to stream music. But premium smartwatches are made from more than just plastic and low-grade metals with disposable designs. Apple made waves when it released a high-end Apple Watch Edition collection ranging from $10,000 to $17,000. They ultimately released a slightly more affordable ceramic option retailing at over $1,200.

But Apple doesn’t corner the market on premium smartwatches and pricing. The Breitling Exospace B55 Connected smartwatch starts at $8,700. Resembling a traditional timepiece with a modern edge, the Breitling smartwatch can receive SMS and WhatsApp messages, incoming phone calls and also add appointments and notations to your calendar.

How a smartwatch looks, and not just what it does, will make it a must-have accessory in our arsenal of ever-changing gadgets and smart products. Tomorrow’s smartwatch may not be a collectible, fetching tens of thousands at an auction like a vintage Rolex. But the demand for the latest technology and smartwatch fashion will keep fueling our consumption.

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17 Comments

  • Reply Stephanie Jeannot Oct 6, 2016 at 12:20 am

    People hardly wear watches anymore. Ask someone for the time and they look at their phone. I am wondering if people would invest in it only because it would be like looking at their phone. So much has changed in this world.

  • Reply Julie Oct 6, 2016 at 2:41 am

    What are they going to think of next!

  • Reply Rebecca Swenor Oct 6, 2016 at 3:20 am

    It is interesting to me that people would pay so much just to have the latest technology. I know I would not buy one for that price no matter what it does. Thanks for sharing the information.

  • Reply Jacqui S Oct 6, 2016 at 4:17 am

    Technology is a wonderful thing! I love my watches, but, my budget has me tapped out right now for any upgrades. Thanks for sharing this device!

  • Reply swood97 Oct 6, 2016 at 4:53 am

    In time, I believe the prices will come down. I’m old enough to remember when the Ninetendo was a thousand dollars and people had to finance a microwave. Our love affair with technology will continue to fuel the demand and the consumption so the prices will eventually become more affordable and everyone will want one.

  • Reply Karen Oct 6, 2016 at 5:30 am

    I must admit, I’m a bit reluctant to join the smartwatch squad! Love that they’re thinking outside of the box, but I’m so used to using both hands on my phone I don’t know how I’d transition! At least they look good though x

  • Reply Pam Wattenbarger Oct 6, 2016 at 8:20 am

    I am impressed with the smart watches, but don’t really want to buy one. It seems like since I already have a phone, it’s pretty much the same thing. They look sharp though!

  • Reply Dee Oct 6, 2016 at 10:01 am

    I think that smart watches are really cool, but I can not see me at this point investing my money in one. I mean your cell phone does almost everything you watch does so for me it wouldn’t be a good purchase.

  • Reply Liz Mays Oct 6, 2016 at 5:09 pm

    It will be pretty interesting to see how smartwatches change over time. Apple definitely created a lot of buzz with theirs.

  • Reply Brandy Oct 6, 2016 at 6:18 pm

    Wow that is a really great looking watch. I Love that there is a smartwatch now and they have grown so much!

  • Reply Bella Oct 6, 2016 at 7:08 pm

    I don’t think i could get into having access to my phone from my wrist. It is crazy how much people are willing to pay for them.

  • Reply Bonnie Gowen Oct 7, 2016 at 7:20 pm

    Wow, that is pretty neat. I would love to have one of those someday. Would be awesome.

  • Reply chefjoe11 Oct 8, 2016 at 4:05 am

    I love my Apple Watch! It is so easy to glance at my watch instead of pulling out my phone while working. I can also respond with a quick button to a message.

  • Reply ohnikkashae Oct 8, 2016 at 5:23 am

    I’m loving the concept of smart watches. This is pretty cool!!

  • Reply Mimi Green Oct 8, 2016 at 10:42 am

    I used to be a watch lover and then cell phones happened. Within the last year I’ve fallen back in love watches. The smart watches are dope, but I don’t know if I’m down with spending that much money on one.

  • Reply Amanda Love Oct 10, 2016 at 1:32 am

    There’s a sudden spur of smartwatches in the market and people can’t seem to get enough of them! I’m a huge fan of analogue watches though. But these watches are pretty cool too!

  • Reply Christina Aliperti Oct 11, 2016 at 1:35 pm

    I want a smartwatch so bad! They have so many great features but just not in my budget at the moment.

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