Wiseguyreports.Com Publish New Market Research Report On -“Smartwatches Market 2019 Global Analysis, Size, Share, Trends, Opportunities and Growth, Forecast 2024”
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Smartwatches Market
Smartwatches, as the name suggests, are devices that apart from basic time keeping, can function as standalone or supplementary smart devices that can connect with other devices such as smartphones, earphones, and fitness trackers. Advanced smartwatches come with integrated fitness tracking and calling features. Some even sport a camera and expandable storage. Though smartwatches have been around for a quite a while, they haven’t quite been able to capture major market share, mainly due to poor software integration. Apple and Google have been at the forefront of the smartwatches revolution, with the former opting for an integrated approach of developing both the device and software, while the latter primarily focuses on software for compatible smartwatches.
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Market Segment by Top Manufacturers, this report covers
Apple
Samsung
Sony
Motorola/Lenovo
LG
Pebble
Fitbit
Garmin
Withings
Polar
Asus
Huawei
ZTE
inWatch
Casio
TAG Heuer
TomTom
Qualcomm
Weloop
Epson
Geak
SmartQ
Hopu
Truly
In spite of various iterations of smartwatches flooding the market, these are yet to emerge as more than novelty items for early adopters. The exorbitant pricing and lacklustre feature set of initial smartwatches are mainly to blame for this. Major manufacturers have since worked towards increased functionality of smartwatches in order to increase adoption. The latest trend has been to integrate fitness and health tracking into these watches. Moreover, various other smaller players have launched their own versions of smartwatches at highly competitive prices. These factors have resulted in increased traction for the market in the recent past, a trend that is expected to continue in the foreseeable future. Traditional watch manufacturers have also jumped into the foray by offering their own smartwatches or those developed in collaboration with established smartwatch manufacturers.
Segmentation
The global smartwatches market is segmented into the following for a macro- and micro-level understanding of the market:
Operating System
Apple Watch Kit
Android Wear
Tizen
Embedded OS
Apple Watch Kit rules the roost, estimated to account for over 50% of the overall smartwatches market. This is mainly due to the highly fragmented Android Wear segment. Apple Watch Kit is expected to retain its dominance in the market in the foreseeable future, given its superior hardware and software integration and well established ecosystem.
Application
Personal Assistance
Medical and Health
Fitness
Personal Safety
Personal assistance segment is the largest contributor towards the smartwatches market, with fitness emerging as one of the fastest growing segments.
Regional segmentation
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America, with its extensive and well established distribution network, is the largest market for smartwatches. The emergence of various regional smartwatch manufacturers, especially in China, offering unmatched value for money has led to increased interest in the region about smartwatches. This, in turn, is expected position Asia Pacific as one of the fastest growing markets for smartwatches in the near future. Manufacturers are working towards improving integration of smartwatches with the ‘smart’ ecosystem, with major focus towards improving battery life and durability of smartwatches.
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Source: MarketersMedia
Release ID: 88914716
