Table of Contents
Market outlook of the smart band market
Technavio’s research analyst predicts the global smart band market to grow steadily at a CAGR of around 8% during the forecast period. The high demand for wearable lifestyle devices is the key growth driver for this market. Consumers use smartwatches, smart bands, and wearable rings to monitor daily fitness and health activities, listen to music, check virtual/3D videos, play virtual games, and access social networking websites such as Facebook, LinkedIn, and Twitter. The popularity of these devices is highest among the younger population, especially in the US.
The strategic partnership among supply chain members is an emerging trend in the smart band market. In recent years, smart band manufacturers have increased their relationships with industry players worldwide. For instance, during 2015, HTC partnered with Under Armour to develop the Grip smart band.
Geographical segmentation and analysis of the smart band market
The Americas accounted for 65% of the market share during 2015 and is expected to retain its market leadership until the end of the forecast period. Its dominance was due to the presence of tech-savvy consumers with greater awareness of technologically advanced products such as smart bands. Fitbit, Garmin, and Jawbone; which are among the top five leading vendors in the market are also based out of the US.
Competitive landscape and key vendors
The global smart band market is characterized by intense competition due to the presence of multiple small and large vendors. Technavio predicts uncertain market growth for all vendors in 2016. Although large vendors such as Fitbit, Jawbone, and Samsung already have an established presence in the market, yet small vendors from APAC such as Xiaomi is taking over due to the low cost of manufacturing in the APAC region.
The leading vendors in the market are -
- Samsung Electronics
The other prominent vendors in the market include Lenovo, LG, Nike, Razer, and Sony.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global smart band market?
- What are the key market trends impacting the growth of the smart band market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global smart band market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the smart band market?
Technavio also offers customization on reports based on specific client requirement.
- Smart Thermostat Market in APAC 2015-2019
- Global Smartwatch Market 2016-2020
- Global Fitness Bands Market 2015-2019
- Global Wearable Electronics Market 2015-2019
- Global Smart Wearable Fitness and Sports Devices and Services Market 2015-2019
- Global IoT Devices Market 2015-2019
Get Industry Insights. Simply.
Talk to Amrita
+1 718 303 2019
“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 ...
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 ...
“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 ...