Global Smartwatch Market to blow the Bugle with a Double Digit Growth

8 Jan
2015

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Allied Market Research published a report titled “Global Smartwatch Market - size, Industry Analysis, Trends, Growth and Forecast, 2014 – 2020.” The report expects the global smartwatch market to reach a mark of $32.9 billion by 2020 with a CAGR of 67.6% during 2014 - 2020. In the year 2013, revenue generated by the extension smartwatch was around 4/5th of the overall revenue in the global smartwatch market. Standalone smartwatch, generated a 1/10th of the overall revenue in the year 2013, however, it would equal the market size of extension smartwatch market by the year 2017.

The android software would grow significantly during the study period. Asia Pacific would drive the growth for the smartwatch market during the estimated time and China would be the hub of the global market.

North American market generates maximum amount of revenue due to favorable market conditions. The report forecast the global smartwatch market to register a double digit growth rate. With emerging innovative sensor technologies, the product based breakthrough would be experienced by the global smartwatch market. The market would open up opportunities for numerous global players as it is still in the emerging phase.

Samsung would replace Andorid Os by Tizen- a Samsung platform in its Galaxy Gear. The first company to offer a smartwatch at $150 with limited design was pebble. It recently introduced a much advanced and a better designed product, Pebble Steel, which is available at $249. Further, Apple is planning to integrate smartwatch with the health care kit to assist the customer in monitoring their health.

Extension smartwatch had about 2 million unit sales in 2013 and would grow exponentially during the forecast period. Android had the highest unit sales, which was around 3/5th of the overall market share, followed by iOS. The iOS products would grow significantly during the forecast period due to its bundled products offering. The Personal Assistance segment would witness a stable growth rate during the study period.

The report profiles the key players in the market to gives us their detailed information. The key players are listed below:

Apple Inc.,
Google Inc.,
Garmin,
Fitbit,
Motorola,
Sony Corp.,
Samsung Electronics Co. Ltd.

Akhilesh Prabhugaonkar

Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.

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