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.
Browse Details of 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.
About Us:
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, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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