Dublin, Feb. 10, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/m89mld/global_smartwatch) has announced the addition of the "Global Smartwatch Market (Product, Application, Operating System and Geography) - Size, Global Trends, Company Profiles, Segmentation and Forecast, 2013 - 2020" report to their offering.
The new market research report titled "Global Smartwatch Market - size, Industry Analysis, Trends, Growth and Forecast, 2014 - 2020," the global Smartwatch market has a potential to reach $32.9 billion by 2020, registering a CAGR of 67.6% during 2014 - 2020.
Popular highlights of the Global Smartwatch Market that are noteworthy are, based on type, the Extension Smartwatch sales was the source for approximately 4/5th of the revenue generated by the global Smartwatch market in 2013. Standalone smartwatch, which was nearly 1/10th of the market in 2013, would swiftly take over the extension smartwatch and would match with the market size of extension smartwatch by 2017.
Android operating system, which is the most prominent OS preferred by Smartwatch manufacturers, would grow even further during the forecast period. Following the trends of the market, geographically, Asia Pacific region is expected to propel the global market supplemented by China, which is expected to evolve as a hub for low cost smartwatch manufacturing.
The market for smartwatches is witnessing a double-digit growth rate globally. North America is a promising and a highest revenue generating geography for smartwatches. As per the estimates, North American region generated nearly 1/3rd of the market revenue in 2013, and it is further expected to grow at a significant rate. However, in the near future, the growth of this market is expected to be driven by the Asian region with China emerging as a popular hub, being a low-cost Android based smartwatch manufacturer.
Out of the total smartwatch shipment in 2013, Samsung held a market leader position, followed by Nike and Garmin. The global market is witnessing a huge inflow in the number of companies and is expected to grow manifold from the existing number of 40 companies at present. As of now, the market is purely driven by the leading tech companies such as Samsung, Apple, Google, etc.; however, in the near future, the entry of watch companies is expected to increase the competition and dynamics of this market.
Led by innovations, the smartwatch companies are spending heavily on R&D. Top players such as Samsung, Pebble, Maritime and Sony are counting on their R&D investments to be the dominant strategy to maximize on the respective market shares. Further, Strong distribution support is another key aspect that is imperative to this market. The leading companies are collaborating with their suppliers and re-sellers to penetrate into this market through the right selection of channel, geography and target audience.
The report highlights the major mile stones of the smartwatch market with details covering the key influencing factors impacting this market. An in-depth insight on the competitive scenario and its evolution in the near future has been covered in the report along with the forecast of the future of the smartwatch market worldwide. Key players such as Samsung, Pebble, Garmin, Nike, Sony, Fitbit and Casio have been profile with elaborated information on business overview, financials, product portfolios, investments, news and recent developments.
KEY BENEFITS
- The study highlights the global market for Smartwatch along with current market conditions and a trend/awareness forecast to forage the prominent investment pockets in the market
- The analysis unveils the dominant aspects, viz. upsurge in demand for Smartwatches in applications such as PA, Wellness, Medical/ Health, Sports and Others. Trends of the global market are outlined to determine the overall attractiveness and single out market trends and gain a stronger foothold in the market
- A Microscopic analysis of segments is conducted to gauge the potential of the market. These segments highlight the favourable conditions for the growth of global Smartwatch market
- Porters five force's model helps in analysing the potential of buyers & suppliers, with a competitive sketch of the market, which helps market players in better decision making.
KEY MARKET SEGMENTS
MARKET BY TYPE PRODUCT
- Extension smartwatch
- Classic smartwatch
- Standalone smartwatch
MARKET BY APPLICATION
- PA
- Wellness
- Medical/ Health
- Sports
- Others
MARKET BY OPERATING SYSTEM
- Android
- IOS
- Windows
- Others
Companies Mentioned
- Apple Inc.
- Google Inc.
- Garmin
- Fitbit
- Motorola
- Sony Corp.
- Samsung Electronics Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/m89mld/global_smartwatch