Press release
Smart Band Market 2016-2020: Globally Growing At CAGR 8%, Significant Forecast, Trends And Opportunity
Technavio’s research analyst predicts the global smart band market to grow steadily at a CAGR of around 8% during the forecast period. The high demand for wearable lifestyle devices is the key growth driver for this market. Consumers use smartwatches, smart bands, and wearable rings to monitor daily fitness and health activities, listen to music, check virtual/3D videos, play virtual games, and access social networking websites such as Facebook, LinkedIn, and Twitter. The popularity of these devices is highest among the younger population, especially in the US.
The strategic partnership among supply chain members is an emerging trend in the smart band market. In recent years, smart band manufacturers have increased their relationships with industry players worldwide. For instance, during 2015, HTC partnered with Under Armour to develop the Grip smart band.
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Geographical segmentation and analysis of the smart band market
Americas
APAC
EMEA
The Americas accounted for 65% of the market share during 2015 and is expected to retain its market leadership until the end of the forecast period. Its dominance was due to the presence of tech-savvy consumers with greater awareness of technologically advanced products such as smart bands. Fitbit, Garmin, and Jawbone; which are among the top five leading vendors in the market are also based out of the US.
Competitive landscape and key vendors
The global smart band market is characterized by intense competition due to the presence of multiple small and large vendors. The report predicts uncertain market growth for all vendors in 2016. Although large vendors such as Fitbit, Jawbone, and Samsung already have an established presence in the market, yet small vendors from APAC such as Xiaomi is taking over due to the low cost of manufacturing in the APAC region.
The leading vendors in the market are -
Fitbit
Garmin
Jawbone
Samsung Electronics
Xiaomi
The other prominent vendors in the market include Lenovo, LG, Nike, Razer, and Sony.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global smart band market?
What are the Key Market trends?impacting the growth of the smart band market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global smart band market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the smart band market?
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Table of Content
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Base year
Forecast period
Market coverage
Market size calculation
Geographical segmentation
Vendor segmentation
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Realistic scenario
Optimistic scenario
Five forces analysis
PART 06: Market segmentation by geography
Global smart band market by geography
PART 07: Market drivers
Growing adoption of smart bands in APAC
Integration of advanced technologies in smart bands
High demand for wearable lifestyle devices
Miniaturization of electronic devices
PART 08: Impact of drivers
PART 09: Market challenges
Connectivity
Unappealing designs
Security and privacy issues
Low awareness of potential use of smart bands
PART 10: Impact of drivers and challenges
PART 11: Market trends
Rising investment in wearable technology
Crowdfunding
Strategic partnerships among supply chain members
Proliferation of low-cost smart bands
Competitive scenario
PART 12: Key vendor analysis
Fitbit
Xiaomi
Garmin
Jawbone
Samsung Electronics
Other prominent vendors
Key news
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