smartwatches market

SMARTWATCHES MARKET TRENDS AND FORECAST BY 2020
A smartwatch is a wrist-worn type of wearable device providing various functionalities to
its user and acting as a companion device with smartphones. Smartwatches are mostly
need to be paired with a smartphone using any connecting technology such as near-field
communication (NFC) or Bluetooth. Smartwatches provide notifications to its user and
can also be used to track health parameters such as heart rate, distance traveled, etc.
Moreover, smartwatches can also be used as a GPS device. Smartwatch provide high
degree of connectivity to its users and are useful for the group that aims health related
purposes and fitness tracking. Global smartphone shipments are expected to increase
continuously in the coming years due to developing network infrastructure and increasing
internet penetration. The global smartwatches market was valued at US$ 701.2 Mn in
2013 and is expected to grow at a CAGR of 53.6% during the forecast period 2014 –
2020.
On the basis of price range, the global smartwatches market is segmented into high-end
smartwatches, mid-end smartwatches, and low-end smartwatches. Smartwatches with
price above US$ 250 are considered under high-end smartwatches segment. High-end
smartwatches segment is anticipated to witness strong growth in next few years (2015 -
2017) due to number of large smartphone manufacturers such as Apple Inc., Samsung
Electronics Inc., and Sony Corporation focusing on the development and launch of their
high-end smartwatch models. However, unwillingness to pay above US$ 250 for a smartwatch
and low awareness pertaining to wearable technology and products is the major
concern for the growth of smartwatches market. Furthermore, limited battery life and its
effect on overall performance are expected to restrain the global smartwatch market. Currently,
the companies offering high-end smartwatches overrun the global smartwatch
market. However, growing commercialization activities, and research and development is
anticipated to result in significant number of mid-end and low-end smartwatch models
over the forecast period.
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In 2013, North America was the largest market for smartwatches in terms of revenue. The
region has experienced significant adoption of high-end smartwatches due the presence
of tech-savvy and health conscious users in this region. Fitness and health are expected

to remain the major applications of smartwatches over the forecast period. This is attributed
mainly to the high smartphone penetration in the North American region. Furthermore,
awareness among end-users and higher purchasing power is anticipated to drive
the regional market over the forecast period 2014 – 2020. Europe and Asia Pacific are
anticipated to witness healthy growth over the forecast period. Demand from countries
such as China, India, Japan, and Australia is anticipated to drive the Asia Pacific market
in the next few coming years. Mass adoption of mid-end and low-end smartwatches in
Asia Pacific, Latin America, and Eastern Europe is expected to drive the demand for this
market over the forecast period.
The global smartwatches market is led by players such as Pebble Technology Corporation,
Samsung Electronics Co. Ltd., Apple Inc., Nike Inc., Garmin Ltd., Sony Electronics
Inc., Fitbit Inc., Martian Watches, ConnecteDevice Ltd., Qualcomm Incorporated and others.
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