1. Market Research
  2. > Wireless Technology Market Trends
  3. > Smartwatches Market Analysis And Segment Forecasts To 2020

Smartwatches Market Analysis And Segment Forecasts To 2020

  • May 2016
  • -
  • Grand View Research
  • -
  • 83 pages

Summary

Table of Contents

The global smartwatches market is expected to reach USD 19.62 billion by 2020. 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.

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.

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.

For the purpose of this study, 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

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
MEMS Oscillator Market by Packaging Type, Band, General Circuitry, Application, and Geography - Global Forecast to 2022

MEMS Oscillator Market by Packaging Type, Band, General Circuitry, Application, and Geography - Global Forecast to 2022

  • $ 5650
  • Industry report
  • February 2017
  • by MarketsandMarkets

“MEMS oscillator market expected to grow at a CAGR of 46.08% between 2017 and 2022” The overall MEMS oscillator market was valued at USD 79.2 million in 2016 and is expected to reach USD 802.8 million ...

Wearable Technology Market by Product, Type, Application, and Geography - Global Forecast to 2022

Wearable Technology Market by Product, Type, Application, and Geography - Global Forecast to 2022

  • $ 5650
  • Industry report
  • January 2017
  • by MarketsandMarkets

The wearable technology market is expected to reach USD 51.60 billion by 2022, at a CAGR of 15.51% between 2016 and 2022. Among the major factors propelling the growth of the wearable technology market ...

Top 10 Mobility Technologies Market by Technology & Geography - Global Forecast to 2022

Top 10 Mobility Technologies Market by Technology & Geography - Global Forecast to 2022

  • $ 5650
  • Industry report
  • January 2017
  • by MarketsandMarkets

“Increasing demand for smart devices and technological advancements in wireless connectivity expected to drive the growth of the mobility technologies market during the forecast period” The Top 10 ...


ref:plp2016

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.