Smartwatch Market: Introduction
The smartwatch is a wrist wearable device that needs to be hooked up to a smartphone to perform its all functions such as messaging, calling, and emails notifications. Further, smartwatch incorporates a near field communication (NFC) chip that enables it to connect with other smart devices via Bluetooth connectivity. Growing awareness concerning healthy lifestyle among sports enthusiasts and health conscious consumers is encouraging prominent players to introduce health-focused smartwatch equipped with heart-rate monitor and GPS tracking features.
The increase in penetration of smartphones and the consumer shift towards wearable technology are anticipated to drive the adoption of smartwatch. This is expected to boost growth of the smartwatch market across the globe. Further, falling average selling price of and increasing awareness regarding benefits offered by smartwatches among users are likely to accelerate the growth of the global smartwatch market during the forecast period. However, lack of awareness among consumers is expected to hinder adoption of the smartwatch in developing regions, hampering market growth.
Emerging trends has also been analyzed in the global smartwatch market. For instance, low price smartwatches are increasingly gaining traction in the emerging markets such as India, China, and Brazil. Further, Key providers are inclined towards introducing advanced smartwatches—equipped with enhanced features such as high-resolution display—to enhance customer experience.
The smartwatch market has been segmented into platform, price range, and distribution channel. Based on platform the global smartwatch market is bifurcated into android, linux, pebble OS, real-time operating system (RTOS), Tizen, and watchOS. On the basis of price-range, the market has been segmented into premium-priced, mid-priced, and low-priced smartwatch. The smartwatch market is classified based on distribution channel into multi-brand store, single brand/company owned store, and online retail store.
Key regions targeted in the smartwatch market are North America, Western Europe, Latin America, Eastern Europe, Asia Pacific, and Middle East & Africa (MEA). Among regions, North America dominated with largest revenue share of the overall smartwatch market revenue, followed by Western Europe in 2014. However, the smartwatch market in Asia Pacific is expected to grow at healthy CAGR from 2017 to 2023.
Smartwatch Market Competitive Landscape
Key players operating in the global smartwatch market concentrates on introducing innovative smartwatches by investing substantial amount in research and development activities. Also, smartwatch manufacturers are also concentrating on enhancing battery-life to make their offering superior than competitors. Major players in global smartwatch market are Apple Inc., Samsung Electronics Co. Ltd., Garmin International Inc., Fitbit Inc., LG Electronics Inc., Lenovo Group Ltd., adidas AG, Philips, Motorola Solutions Inc., Pebble Technology Corporation, Sony Corporation, Qualcomm Inc., and Huawei Technologies Co. Ltd.
Major Regions/Countries include:
- North America
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
The research study would provide an in-depth assessment of the global smartwatch market and include reliable analysis, insights, facts and industry-validated market estimation and projections, supplemented by appropriate assumptions, methodologies, and approaches. Insights and analysis on various market segments such as by platform, price range, distribution channel, and region included in this research report scope.
This research report on smartwatch market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.