Smart Watches Market Reveals Top Players, Ongoing Trends, Growth Factors and Forecast till 2022

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of smart watches market. The study is titled as “Smart Watches Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2022. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global smart watches market.

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Smart watches, as per their name, actually are smart with respect to various tasks and features that they offer to the user. They can be used to manage various day to day tasks, attend calls, measure heart rate, measure pulse, etc. The growth of the global smart watches market is influenced by factors such as increasing smartphones globally, rising demands of the people for new innovations, increased technological developments, convenience and portability, an “all-in-one” functionality, increase in the disposable income of the people, shift towards a faster and standardized connectivity, tech savviness of the people etc. All these features offering convenience and easy living apart from only timekeeping, is driving the global smart watches market. However, its increasing pricing can be a restraint and cannot be affordable to all, but only higher class people. North America region seems to be the most lucrative region for the smart watches market.

According to Fact.MR, the global smart watches market is poised to reach a value more than US$ 61 Bn by the end of 2022 and is anticipated to grow at a moderate CAGR during the forecasted period of 2017 to 2022.

4 Forecast Highlights on Global Smart Watches Market

1. Asia-Pacific excluding Japan (APEJ) region shows the highest growth rate and registers a CAGR of 3.9% during the period of forecast. North America region dominates the global market in terms of market share by revenue

2. The E-commerce segment by distribution channel is expected to slate a CAGR of 4.1% thereby claiming to be the fastest growing segments in the global market by distribution channel. However, the franchised outlets segment is set to dominate this category by showing higher market share by revenue

3. watchOS segment by operating system shows higher market share and a poised to show higher gain in the BPS by the end of 2022. The Tizen segment by operating system reflects highest growth rate, thereby registering a CAGR of 3.8% during the period of forecast

4. The OLED segment by display type is expected to show high growth rate and poised to register a CAGR of 4.9% during the period of forecast. The LCD segment shows higher market share by revenue. To draw a comparison line between OLED, LCD and SAMOLED segments, there is not much difference in the market shares, but only the growth rates

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Tizen Moves at Fast Speed; watchOS Shows Similar Speed

The Tizen segment by operating system shows highest growth rate yet a small market share. Following Tizen the watchOS segment grows at a similar speed but has the highest market share by revenue and reflects a market share of 48.9% and this trend is bound to grow as years pass by. It is also expected from this segment to reflect a higher gain in BPS by the end of 2022.

E- Commerce is the Need of the Day

The e-commerce segment by distribution channel shows higher growth rate to register a CAGR of 4.1% during the period of forecast and also expected to gain a higher BPS by the end of 2022. The franchised outlets segment dominates the global smart watches market by reflecting the highest market share by revenue and this trend is poised to continue throughout the period of forecast.

North America to Dominate the Global Market

The North America region possess higher market attractiveness index and is considered to be the most lucrative market for the global smart watches market. This region dominates other regions as it shows a higher market share by revenue and growing at a moderate rate during the period of forecast. This trend is anticipated to continue over the forecast period of 2017 to 2022. The Asia-Pacific excluding Japan (APEJ) region is an emerging economy and it reflects the highest growth rate despite of low market share during the period of forecast. North America is expected to reach a value more than US$ 22 Bn by the end of 2022. Following North America, Europe stands second in line as far as market share is concerned. Other regions, apart from APEJ, show comparatively less growth during the forecast period, with Japan region to show the lowest CAGR.

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About Fact.MR

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This release was published on openPR.