Smartwatches Market Future Forecast Indicates Impressive Growth Rate by Waquas · December 18 Wholesale Jerseys China , 2019
The global smartwatches market is expected to reach USD 19.62 billion by 2020, according to a new study by Grand View Research, Inc. Growing companion device demand is expected to give impetus to demand for smartwatches. Increasing percentage of healthfitness conscious population has resulted in high demand for wearable fitness monitoring and tracking devices Wholesale Jerseys , including smartwatches.
The number of industry participants is expected to increase manifold over the next six years. In addition to startups, the expected entry of established companies is estimated to significantly fuel market growth. Ensuring usability and visual appeal is a critical factor for enabling product adoption on a global level. Furthermore, managing the tradeoff between battery life and performance is critical for profitability.
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Further key findings from the study suggest:
Global smartwatch shipments were close to 2 million units in 2013, and are expected to reach 135.3 million units by 2020, at a CAGR of 53.5% from 2014 to 2020.
High-end smartwatches accounted for approximately 90% of the global market in 2013. This segment is expected to lose market share to the mid-end and low-end segments over the forecast period. This can be attributed to the expected trend of decreasing selling prices with a growing number of manufacturers. Majority of consumers have been reluctant to invest in premium priced products on account of unclear benefits and lack of a value proposition.
North America accounted for the highest market share of 35% in 2013; this is mainly due to higher purchasing power as well as increasing demand for fitness tracking equipment. Asia Pacific is expected to be the fastest growing regional market over the next six years. The regional market is expected to be driven by high smartphone proliferation and usage of Internet services.
Industry participants include Samsung Electronics (Galaxy Gear) Cheap NFL Jerseys , Pebble, Sony Corporation, Google Inc. and Qualcomm Inc. among others. R&D activities to drive innovation have been the key growth strategy for these companies. Established companies are expected to benefit from growing smartwatches demand Cheap Jerseys China , and drive revenue generation over the forecast period. Grand View Research has segmented the global smartwatches market on the basis of price segment and region:
Smartwatches Price Segment Outlook (Volume, Million Units and Revenue, USD Million; 2012 – 2020)
High-end
Mid-end
Low-end Smartwatches Regional Outlook (Volume Cheap Jerseys , Million Units and Revenue, USD Million; 2012 – 2020)
North America
Europe
Asia Pacific
RoW
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company Wholesale NFL Football Jerseys , registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions Wholesale Football Jerseys , we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Metals are the kind of material that has a lot advantages attached to its usage. Metal buildings are getting more and more into the market these days which makes lots of people turn their interest on what it offers when used in homes and offices and even factories. The use of the standard wood is getting less and less asked for.
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