Technology

Smartwatches Market – Next Step Towards the Future of Wearable

Smartwatches Market (By Price Range – High-end Smartwatches, Mid-end Smartwatches, and Low-end Smartwatches; By Operating System – Android Wear, Watch OS, and Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020

According to the research report, the global smartwatches market was valued at US$701.2 mn in 2013 and is expected to expand at a CAGR of 53.60% from 2014 to 2020. As the perception of smartwatches is changing from being just an expensive accessory to a fitness and time tracker, more and more users are looking to buy these devices for health reasons.

Some of the key players profiled in the global smartwatches market are Samsung Electronics Co. Ltd., Pebble Technology Corporation, Nike Inc., Apple Inc., Garmin Ltd., Fitbit Inc., Martian Watches, Qualcomm Incorporated, ConnecteDevice Ltd., and Sony Electronics Inc.

The research report gives a clear idea of the competitive landscape of the smartwatches market by studying the company profiles of these players, assessing their financial overview, understanding their business and marketing strategies, analyzing their research and development activities, and anticipating the strategic mergers and acquisitions in the coming few years.

The presence of a few players makes the global smartwatches market fairly consolidated. Nevertheless, the smartwatches market is competitive. Savvy players are banking on product innovation and product development to gain an edge.

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Worldwide, the massive adoption of electronics is having a positive impact on the worldwide smartwatches market. A smartwatch is generally a wrist-worn device that provides various functionalities to its user. Smartwatches are mostly paired with the user’s smartphone via Bluetooth or near-field communication technology. Some of the functionalities of a smartwatch are GPS, health tracker, distance tracker, etc.

High-end Smartwatches lead the pack

Based on price range, the global smartwatches market is divided into high-end smartwatches, low-end smartwatches, and mid-end smartwatches. Among these, smartwatches that are above US$250 are high-end ones. The segment of high-end smartwatches is predicted to witness strong growth in the upcoming years. The focus of top-notch product manufacturers such as Apple Inc., Sony Corporation, and Samsung Electronics Inc. to innovate high-end smartwatches account for high growth of this segment.

At present, companies involved in the manufacture of high-end smartwatches account for major share of the overall market. However, in the coming years, research and development and increased participation from mid-sized companies is expected to lead to larger number of newer mid-end and low-end smartwatch models.

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The global smartwatches market is categorized into the following segments:

Smartwatches Market, by Price Range

  • High-end Smartwatches
  • Mid-end Smartwatches
  • Low-end Smartwatches

Smartwatches Market, by Operating System

  • Android Wear
  • Watch OS (iOS)
  • Others

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