Smartwatches Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 10/19/2015 -- Driven by rising Internet and smartphone penetration and growing focus on fitness, the global smartwatches market is estimated to grow at an impressive CAGR of 53.6% from 2014 to 2020, according to a report Transparency Market Research. The report is titled "Smartwatches Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" and is available for sale on the company website. By price range, the market is segmented into low-end smartwatches, mid-end smartwatches, and high-end smartwatches. Accounting for 44% of the global smartwatches market, mid-end smartwatches was the dominant segment in 2013. At that time, smartwatches were viewed merely as companion devices.However, as the perception of the smartwatch transformed into a fitness tracking device, the demand shifted to high-end smartwatches. Even though high-end smartwatches held only 17% of the overall market in 2013, analysts believe that this segment is likely to register the highest growth rate by the end of the forecast period.
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On the basis of operating systems used, the smartwatches market comprises Watch OS (iOS), Android Wear, and others including Pebble OS, Tizen OS, and LinkIt OS. Given that Android Wear smartwatches hit the market in 2014, the other OS segment dominated the overall market at the beginning of the forecast period in 2013.However, the launch of Android Wear OS by Google Inc. transformed the wearable devices and smartwatches market in 2014 with high number of applications and constant upgrades. The segment of smartwatches based on Android Wear OS is expected to develop at an astounding CAGR of 57.9% from 2014 to 2020.
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Geographically, the global smartwatches market is divided into North America, Europe, Asia Pacific, and Rest of the World. Accounting for a 34.5% share in 2013, North America dominates the smartwatches market in terms of revenue. The growing presence of health-conscious and tech-savvy users in the region is one of the primary reasons for the growth of the smartwatches market in North America. In addition, rapid adoption of high-end smartwatches, surging smartphone penetration, and rising fitness and health activities have contributed toward the growth of this regional market. Mass adoption of middle- and low-end smartwatches in emerging economies of Japan, China, Australia, India, and Eastern Europe and rising focus on health and overall well-being are expected to drive the smartwatches market in Asia Pacific and Europe.
The leading players operating in the global smartwatches market include Nike Inc., Garmin Ltd., Martian Watches, Pebble Technology Corporation, Qualcomm Incorporated, Sony Electronics Inc., Fitbit Inc., Apple Inc., ConnecteDevice Ltd., and Samsung Electronics Co. Ltd. These companies are profiled in the smartwatches market research report on the basis of attributes such as company and financial overview, key developments, and business strategies.
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Smartwatch Market, by Price Range
Smartwatch Market, by Operating System
Watch OS (iOS)
Smartwatch Market, by Geography
Asia Pacific Excluding Japan
Middle East and Africa
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