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.
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.
Read Complete Report @ http://www.radiantinsights.com/research/smartwatches-market-analysis-and-segment-forecasts-to-2020
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
Table of Contents
Chapter 1 Executive Summary
1.1 Smartwatches - Industry
Summary & Critical Success Factors (CSFs)
Chapter 2 Smartwatches Industry Outlook
2.1 Market Segmentation
2.2 Market Size and Growth
Prospects
2.3 Smartwatches - Technology
Evolution
2.4 Smartwatches Value Chain
Analysis
2.5 Smartwatches Market
Dynamics
2.5.1 Market driver
analysis
2.5.2 Market restraint
analysis
2.6 Smartwatches - Pricing
Analysis
2.7 Key Opportunities
Prioritized
2.8 Industry Analysis -
Porter's
2.9 Smartwatches - Company
Market Share Analysis, 2013
2.10 Smartwatches - PESTEL
Analysis
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