Preparing for Smartphone Market Maturity
Recently, the smartphone market has seen a consistent growth in sales, this could be a sign of market saturation and maturity. As consumers begin to see smartphones as a necessity, they become price-sensitive. Perhaps the market still has a few years before maturity, however competition will only increase as developers are targeting the lower end of the market and challenging well-known brands. How will this effect large companies, such as Apple and Samsung? Will the market eventually go into the declining stage? Hence, when looking at the smartphone market, it is extremely important to understand consumer behavior.
I believe that Apple will continue to be a market leader; the company thoroughly understands their consumers. For instance, even though I have had the same MacBook Pro for over two years, Apple can still allow me to look at my Mac in a different way through developing distinctly different software systems (same application towards iPhones). The strongest companies are always preparing for market maturity; like, understanding that consumers want longer lasting batteries and futuristic or imaginative products. Thus, Apple and Samsung have been trying to secure revenue with “smartwatches”.
However, when it comes to “wearable” technology, I believe no company has truly tapped into that market; “most people stop using wearable tech devices within six months”. Personally, I feel that consumers are looking for more flattering designs to wear, in which the technology incorporated is more subtle. Overall, much primary market research should be done before entering any market.