Market share analysis of the global smart watch market
The smart watch market has a major portion of prominent players, and some of the major manufacturing companies are in APAC and North America that export their products all over the globe. Among all the regions, APAC has the largest consumer market for smart watch. Prominent players in this market are Apple Inc., Fitbit Inc., Garmin Ltd., Samsung Electronics, Nokia Corporation (Withings), and LG Electronics etc. Apple Inc., Samsung Electronics Co., Ltd, Fossil Group, Inc., Tag Heuer International SA, Sony Corporation etc. are the tier-1 companies in the global smart watch market which earn revenue more than US$ 20 Bn.
In terms of value, hybrid smart watch segment is anticipated to increase at a high CAGR during the forecast period
Hybrid smart watch segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 17.4% during the forecast period. In terms of value, extension smart watch segment is projected to be the most attractive in the Global Smart Watch market during the forecast period. In 2016, extension smart watch segment was valued at US$ 2,863.3 Mn and is expected to witness steady growth in terms of revenue throughout the forecast period.
Increasing number of online stores and rise in usage of smartphones provide new opportunities in the global smart watch market
Increasing number of online stores across the globe will offer a new platform for smart watch vendors to approach customers. With increasing demand for smart watch, the vendors in the market are providing their smart watch also in the form of accessories online. With the evolution of technology and digitalization, everyone is moving toward online shopping and secured transactions. This advancement will provide opportunity for the smart watch vendors in the near future.
Increasing usage of smartphones in the market is creating demand for smart watch. In the present era, almost everyone uses a smartphone. With the advancement of technology the smartphone applications offered for easy monitoring and analyzing the data tracked is one of the prominent feature for using smartphone and smart watch together. Due to this advancement, demand for smart watch is also increasing since these smart watch are user friendly and compatible with most of the smartphones.
Recent trends observed in the global smart watch market
Innovation in smart watch for variety of applications is supporting growth of the smart watch market. North America market is rising rapidly due to recent innovations in smart watch products, which offer unique capabilities of products and provides benefits to manufacturers. With the evolution of new technologies, the number of applications of these technologies is increasing in North America region.
As there is increase in demand of smart watch in smart wearable industry, the tech giants are bringing innovative smart watch for activity tracking, heart rate monitoring, message notifications, voice recording, calls, reminder etc. This tech giants offer smart watch based on competitive pricing that helps to increase their customer base. This increasing competitiveness among prominent players such as Apple Inc., Fossil Group, Samsung, and Lenovo Corporation etc. to launch smart watch has triggered the growth of smart watch market in Asia Pacific region.
Persistence Market Research offers an eight year forecast for the global smart watch market in a new report titled “Smart Watch Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)” for the period 2017 to 2025. To calculate global smart watch market size, we have considered country-wise consumer electronics production, consumer spending, wholesale and retail trade and services across regions and revenue contribution of the top players. The forecast presented here assesses the total revenue by value across the market. In order to offer an accurate forecast, we have sized the current market, which forms the basis of how the global smart watch market will develop in the future. Given the characteristics of the market, we triangulated the outcome of different types of analyses, based on the technology trends.
Persistence Market Research has used multiple resources of information and analysis to estimate global smart watch market revenue. The research methodology to study this market is based on forecasts that focuses on both global as well as regional trends in the economy, technology and population, along with company, product, country and demographic-specific trends. These trends are analyzed thoroughly and underlying factors are also identified. While examining this report, economic, technological, institutional, behavioral and competitive factors have taken into consideration that may affect the global smart watch market. To understand the market deeply, forecasting models are developed in order to quantify the impact of each of these factors on industry spending. The analysts have created the forecast scenario for each causative factor and have also identified the contribution of each factor on a prospective basis.
While estimating market size, we have considered product portfolio of the companies profiled, along with some other players. Macro-economic indicators such as GDP, wholesale and retail trade, merchandise trade and prices have been considered to arrive at the indicated market numbers. Top-down approach has been used to assess market numbers for each product category, while bottom-up approach has been used to counter-validate the reached numbers and end-use application-wise market numbers while studying this market.
This research report provides the detailed analysis of global smart watch market and offers insights on the various factors driving the popularity of these products and devices. The market study provides the comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on mobile analytics solutions across different regions globally. The report includes analysis of key trends, drivers and restraints from the supply, demand and economy side, which are influencing the global smart watch market. Impact analysis of key growth drivers and restraints, based on the weighted average model is included in this report to facilitate clients with crystal clear decision-making insights.
By Operating System
By Age Group
By Price Range
By Sales Channel
Annual spending on smart watches across the globe has been examined thoroughly
Apart from annual spending figures, country-wise smart watch market, the scenario of by type segment, respective consumer spending and country-wise adoption rates of smart watches have also taken into account while inspecting this report during the projected period of 2017-2025. In order to represent the impact of these figures on annual spending, annual averages are used rather than year-end totals while studying the market. Figures are estimated in local currencies for each country and then converted to US dollars (US$) using the average 2017 exchange rate, which is held constant for each historical year and forecast year. This means the figures reflect industry trends, rather than being distorted by fluctuations in international exchange rates.
While considering the product life cycle stages of global smart watch market, the expert analysts have come up to a conclusion that designers specialized in continually improving those blocks for higher precision and higher performance. Presently smart watch designs have also involved the integration of multiple functions focusing towards specific applications.