Smart Watch Market Scenario:
Smart watches are wearable that is now trending, which is a mix of fashion and smart technology. Additionally, individuals those are health conscious are fortunate to have this smart means to keep a check on distinctive aspects identified with health and may simply share it with their health advisors via digital techniques.
The worldwide market for smart watch is anticipated to present remarkable growth with CAGR of 16.7% to account for a value of more than US$ 30,820 Million through the end of the projected period of 2017-2025. Region-wise, the APAC market continued its dominance during 2017 with the share of over US$ 2,916 Million to the worldwide market. Additionally, the North America market for smart watch is projected to increase at high CAGR for the duration of the assessment.
In terms of the type, the worldwide market includes hybrid smart watch, standalone smart watch, and extension smart watch. Of these, the standalone smart watch category continued its dominance during 2017, capturing over one-third market revenue share. Although digital watches have existed approximately for decades, tech businesses recently just started out launching watches including smartphone-like facilities. These are in general made to work with specific mobile phone platforms or operating systems, for example, android /android wear, watchOS (iOS), pebble OS, linux, tizen, RTOS and others. Of these, the hybrid smart watch category will record high Y-o-Y expansion rates during the period of forecast, expanding at a 17.5% value CAGR. The android wears smart watch category is likely to grow at double-digit value CAGR. While the iOS platform based smart watches will grow at a firm growth pace and are projected to continue its dominance in the market for smart watch all through the period of assessment.
By age group, the overall market includes 55+ Years, 35-54 Years, 25-34 Years, 15-24 Years and 3-14 Years. The 25-34 years category is expected to be most attractive in the worldwide market for smart watch market, in value terms all through the period of forecast. Furthermore, 15-24 years category is anticipated to foresee growth at double-digit CAGR all through the fixed period.
Based on price range, the worldwide market includes low price, medium price, and high price. In terms of the sales channel, the worldwide market includes an unorganized retail store, organized retail chain and online e-commerce store. Of these, organized retain chain category will record high y-o-y expansion over the figured period. Moreover, the segment will grow at an astounding double-digit value CAGR in the said period. The online e-commerce category had captured over US$ 3,878 Million revenues during 2016 and anticipated to expand at a firm CAGR. On the other hand, the online e-commerce store category will be a majorly lucrative category of the worldwide market for smart watch for the duration of the assessment.
The foremost market players active in the worldwide market includes Sony Corporation, Samsung Electronics Co., Ltd, Fossil Group, Inc., Garmin Ltd., Xiaomi Corporation, Huawei Technologies Co., Ltd., LG Electronics Inc., Nokia Corporation (Withings), Fitbit Inc. and others