The global smartwatches market is expected to
reach USD 19.62 billion by 2020, according to a new study by Grand View
Research, Inc. Growing companion device demand is expected to give impetus to
demand for smartwatches. Increasing percentage of health/fitness conscious
population has resulted in high demand for wearable fitness monitoring and
tracking devices, including smartwatches.
The number of industry participants is expected
to increase manifold over the next six years. In addition to startups, the
expected entry of established companies is estimated to significantly fuel
market growth. Ensuring usability and visual appeal is a critical factor for
enabling product adoption on a global level. Furthermore, managing the tradeoff
between battery life and performance is critical for profitability.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/smartwatches-market
Further
Key findings from the study suggest:
- Global smartwatch shipments were close to 2 million units in 2013, and are expected to reach 135.3 million units by 2020, at a CAGR of 53.5% from 2014 to 2020.
- High-end smartwatches accounted for approximately 90% of the global market in 2013. This segment is expected to lose market share to the mid-end and low-end segments over the forecast period. This can be attributed to the expected trend of decreasing selling prices with a growing number of manufacturers. Majority of consumers have been reluctant to invest in premium priced products on account of unclear benefits and lack of a value proposition.
- North America accounted for the highest market share of 35% in 2013; this is mainly due to higher purchasing power as well as increasing demand for fitness tracking equipment. Asia Pacific is expected to be the fastest growing regional market over the next six years. The regional market is expected to be driven by high smartphone proliferation and usage of Internet services.
- Industry participants include Samsung Electronics (Galaxy Gear), Pebble, Sony Corporation, Google Inc. and Qualcomm Inc. among others. R&D activities to drive innovation have been the key growth strategy for these companies. Established companies are expected to benefit from growing smartwatches demand, and drive revenue generation over the forecast period.
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this category @ http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
For the purpose of this study, Grand View
Research has segmented the global smartwatches market on the basis of price
segment and region:
Smartwatches
Price Segment Outlook (Volume, Million Units and Revenue, USD Million; 2012 –
2020)
• High-end
• Mid-end
• Low-end
Smartwatches
Regional Outlook (Volume, Million Units and Revenue, USD Million; 2012 – 2020)
• North America
• Europe
• Asia Pacific
• RoW
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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