Smart Watches Global Market – Overview
A smartwatch is a portable device which is to be worn on the wrist for various applications. Smart watches are just like a traditional watch but is integrated with latest technologies and sensors. But unlike traditional watches, smart watches have capabilities of smartphones such touchscreens, support apps, and often record heart rate of humans and other vital signs such as calories and blood pressure. Smart Watch Market have various connectivity technologies inbuild and in order to exchange information, it establishes connection with a smartphone in order to work to its full potential. the popular technologies by which smart watches gets connected with smartphones are Bluetooth, wi-fi and some devices also allow quick and easy setup using NFC. Once the smart watch is connected with smartphone, user can choose the functionality of smart band such as notification like messages, emails, calls and other. Some smart watches also allow users to control the functionality of their smartphones such as making calls, reading messages and controlling the music of the smartphone. Users can also capture photos remotely through their smart watches.
Going ahead with the market drivers, high demand for consumer smartphones, decreasing prices, increasing per capita income and rich supply chain are supporting the market. high investment in R&D by the key companies and technological advancement in the field of smartphones and smart watches are also some of the major important factor which is driving the market.
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Smart Watches Global Market – Segmentation
Segmentation by Operating System: Android Wear, Tizen, Linux and others (iOS, MediaTek’s LinkIt)
Segmentation by Application: Personal Assistance & Safety, Health / Wellness, Media and Entertainment, Sports, Communication and others (Corporate, Smart Home, Social Networking, Access Control, Payments, Gaming, Photography, Education, Customer Service, Public Services, Science and Research, Defense and Military)
Smart Watches Global Market – Regional Analysis
Smart Watches Market is growing with the positive growth in all the regions. Increasing awareness about the benefits of smart watches among youngsters is driving the market on the global scale. Currently, North America is dominating the market of smart watches owing to the factors such as high per capita income and high standard of living. North America is also home to the key players which gives the region a competitive advantage over other countries. Europe stands as second largest market. High presence of developed countries in the region such as Germany, France, Italy, U.K., Netherlands and others are creating huge demand for the new technologies including high demand for smart watches. The region is also witnessing rapid proliferation of technologies which is helping the market with the new product development. Asia-Pacific on the other hand has emerged as fastest growing market for the smart watches market. Growing countries such as China and India and rich semiconductor industry of Taiwan, Japan, South Korea and China is boosting the market. Countries such as China and India are also playing major role in the demand generation for the smart watches in the region.
December, 2017, Fitbit, the leading global wearables brand, today delivers the first update to its Fitbit OS platform for a smarter, more personalized experience for Fitbit Ionic™ smartwatch users with more than 60 apps now available across a wide range of categories, 100+ clock faces, and enhanced performance. Fitbit is also introducing Fitbit Labs, a Fitbit Research initiative that will bring innovative apps and intelligent clock face experiences to users to motivate and drive behavior change, and help accelerate the company’s pace of innovation. Additionally, Fitbit is partnering with Deezer to bring its dynamic, personal streaming music service to Ionic users across the globe in 2018.
October, 2017, Fossil announced the launch of its smallest hybrid smartwatches to date, featuring new products including Q Neely and, Q Jacqueline. Tailored specifically to the female customer, the newest additions to the Fossil Q lineup infuse technology into the classically designed watch profile of the brand’s best-selling styles, while offering new functionality. Available starting October 22 in Fossil stores and online at fossil.com, these new smaller styles offer customers the most discreet and fashion-forward options for smartwatches yet, featuring a 36 millimeter case and Fossil’s quintessential understated, yet elegant design, as well as limitless options for personalization including interchangeable straps in leather, silicone and stainless steel.
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August, 2017, Garmin International, Inc., a unit of Garmin Ltd. announced the vívoactive 3, a GPS smartwatch that introduces Garmin PayTM, a contactless payment solution that lets users make secure payments from the watch, no phone or wallet required1. With ElevateTM wrist-based heart rate2 and over 15 built-in indoor and outdoor sports apps, the vívoactive 3 is packed with features to keep up with a varied active lifestyle. The vívoactive 3 is one of the many new wearables from Garmin being launched in conjunction with IFA in Berlin, Germany.
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