Dublin, Ohio, April 24, 2018 (GLOBE NEWSWIRE) — Wearable technology has taken the electronics industry by storm. Safeware, a leading provider of product protection and extended warranty solutions, took a look at the upswing in popularity of these devices and how damage can affect them just as much as any other consumer device.
Between 2016 and 2017, Safeware experienced a 33% increase in warranty sales for wearable technology. That number jumped to a 92% increase in sales between 2017 and 2018. The two most popular categories of wearable technology are fitness trackers and smart watches. Fitness trackers have many benefits, including exercise tracking, sleep monitoring, step counting, and reminders to move and stand during the day. In addition to having the features of a fitness tracker, smart watches allow for heightened connectivity, alerting users to incoming and outgoing calls, text messages, and emails.
With the near-exponential increase in warranty sales on wearable technology, Safeware decided to investigate what types of damage are most common amongst these devices. According to a recent analysis of Safeware’s historic claims data, virtually all claims received on wearable technology have been from screen damage.
Due to wearable technology being more exposed than devices such as phones that are able to be kept in a pocket or purse, it makes sense that screen damage is so prevalent. Damage to the face of the device, such as accidental scratches or cracks, can cost $200 on average to repair. These incidents can lead to subsequent problems, such as speaker malfunction, an unresponsive touch screen, or battery issues.
“Wearable technology continues to revolutionize the consumer electronics industry. From offering practical health solutions to allowing consumers to access their phone via their watch, these devices’ popularity is continually increasing,” says Safeware’s Chief Executive Officer, Bryan Schutjer. “As technology continues to evolve, it is important for companies like Safeware to remain innovative and have our finger on the pulse of popular consumer electronic trends in order to offer the most up-to-date, relevant product protection possible.”
With the consumer electronic industry continually introducing new devices such as wearable technology, product protection cannot afford to remain stagnant. Safeware prides itself on offering the most cutting-edge, comprehensive product protection for whatever devices consumers choose to purchase. Continual evaluation and analysis of market trends allows for ever-adapting coverage that lets customers own their devices with confidence.
Having pioneered the technology insurance industry in 1982, Safeware is now one of the most recognized names in product protection. Safeware’s innovative approach to insurance and extended warranty solutions has propelled the company into multiple industries including education, corporate technology, fitness, furniture and appliances. By allowing partners to customize coverage based on their unique needs, Safeware provides best-in-class programs allowing customers to own their products with confidence.
Learn more about Safeware online at www.safeware.com or by calling 1.800.800.1492.