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.
Global Smartwatches Market, by Region, 2013 |
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.
Full
Research Report On Global Smartwatches Market Analysis:
http://www.grandviewresearch.com/industry-analysis/smartwatches-market
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.
View more
reports of this category by Grand View Research at:
http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
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
View press
release of this research report by Grand View Research:
http://www.grandviewresearch.com/press-release/global-smartwatches-market
http://www.grandviewresearch.com/press-release/global-smartwatches-market
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range of
industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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