People are looking at their watches for more than the time. The introduction of the smart watch, with its multi-functional features, has disrupted the traditional analog watch industry. According to the research on luxury watch the youth population is adapting the technology at a rapid rate, which are driving the sales, further increase in disposable income and change in lifestyle thus further fuelling the demand for smart watches.
There is a tuff competition between the tech companies worldwide as they are investing heavily in RnD. Innovation and development in watches has given rise to the smart watch brands. The important features that are driving the increasing demand for smart watch are easy for using and is portable and can be wore on the wrist without making it a hassle to carry it in your pocket.
Also, people are becoming health conscious all over the world due to rising health issues and smart watch gives the best solution as it is also equipped with fitness tracker along with many other features which are similar to a smartphone. Smart watch is a portable wearable device used to track various activities such as steps covered in a day, calories burnt, heart rate, and others. It is also being widely used among cyclists, runners, gym-goers, swimmers and athletes, owing to their wide range of monitoring capabilities. The integration of fitness and health tracking into a smart watch has been revolutionizing the health care system with money-saving opportunities and by improving lives by reducing bad practices that may affect their wellness in the long run.
Smart watch changed the expectations of what is possible to do in a watch, from basic synchronization with phones and their ecosystems (iOS and Android) to advanced health metrics such as performing electrocardiograms on the go. As the population in the developed world grows older, this type of feature increases the adoption of smart watches. Thus, the increase in market for digital watch globally led to many luxury brands stepped into the smart watch world. Each luxury watch brand is putting their own spin on the product to make it stand out in the market. Thus, various luxury watch brands either collaborated or launched their own smart watch like Hermes partnering with Apple and launch smart watch, TAG Heuer did so by designing a watch that combined both a smart watch and a mechanical watch, giving customers the option to switch at their preference, Montblanc too launch smart watch, Bulgari collaborated with WiSeKey etc.
In conclusion, smart watches are an important digital addition to modern life in regard to its communication, health monitoring, task organization, and sending notifications. These benefits are bound to have a positive impact on the lives of users, but smart watches also have some shortcomings that limit their benefits. For instance, smart watch notifications cause distractions that reduce productivity and anxiety that has a negative impact on health, and access to information from digital devices has a negative impact on the cognitive strength of users.