Smartwatch Market Overview:
Global smartwatch market is expected to garner $32.9 billion by 2020, registering a CAGR of 67.6% during the forecast period 2014 - 2020. The market for smartwatches is witnessing a double-digit growth rate globally. North America is a promising and a highest revenue generating geography for smartwatches. As per the estimates, North American region generated nearly 1/3rd of the market revenue in 2013, and it is further expected to grow at a significant rate. However, in the near future, the growth of this market is expected to be driven by the Asia-Pacific region with China emerging as a popular hub, being a low-cost Android based smartwatch manufacturer. Smartwatch market has a potential to reach $32.9 billion by 2020, registering a CAGR of 67.6% from 2014 to 2020.
Out of the total smartwatch shipment in 2013, Samsung held a market leader position, followed by Nike and Garmin. The global market is witnessing a huge inflow in the number of companies and is expected to grow manifold from the existing number of 40 companies at present. As of now, the market is purely driven by the leading tech companies such as Samsung, Apple, Google, etc.; however, in the near future, the entry of watch companies is expected to increase the competition and dynamics of this market. New applications and launch of Wristband, Smart Bracelet, Handwear, Wearable computer and Fitness belt by big brands will attract potential entrepreneurs to this sector. Led by innovations, the smartwatch companies are spending heavily on R&D. Top players such as Samsung, Pebble, Maritime and Sony are counting on their R&D investments to be the dominant strategy to maximize on the respective market shares. Further, Strong distribution support is another key aspect that is imperative to this market. The leading companies are collaborating with their suppliers and re-sellers to penetrate into this market through the right selection of channel, geography and target audience.
The report highlights the major mile stones of the smartwatch market with details covering the key influencing factors impacting this market. An in-depth insight on the competitive scenario and its evolution in the near future has been covered in the report along with the forecast of the future of the smartwatch market worldwide. Key players such as Samsung, Pebble, Garmin, Nike, Sony, Fitbit and Casio have been profile with elaborated information on business overview, financials, product portfolios, investments, news and recent developments.
SMARTWATCH MARKET KEY BENEFITS:
- The study highlights the global market for Smartwatch along with current market conditions and a trend/awareness forecast to forage the prominent investment pockets in the market
- The analysis unveils the dominant aspects, viz. upsurge in demand for Smartwatches in applications such as PA, Wellness, Medical/ Health, Sports and Others. Trends of the global market are outlined to determine the overall attractiveness and single out market trends and gain a stronger foothold in the market
- A Microscopic analysis of segments is conducted to gauge the potential of the market. These segments highlight the favourable conditions for the growth of global Smartwatch market
- Porters five forces model helps in analysing the potential of buyers & suppliers, with a competitive sketch of the market, which helps market players in better decision making.
Smartwatch Market Segmentation:
BY TYPE PRODUCT
- Extension smartwatch
- Classic smartwatch
- Standalone smartwatch
- Medical/ Health
BY OPERATING SYSTEM
- North America
- Asia Pacific