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Smart Devices Market 2018-2023 | Key Company Profile Samsung, Apple, Pebble, Mayo Clinic, Google, Adafruit, Sony, Panasonic , Vuzix

12-20-2018 04:19 AM CET | Fashion, Lifestyle, Trends

Press release from: Allied Market Research

Smart Device Market

Smart Device Market

Smart Devices are devices that perform various smart functions such as health monitoring, people tracking, driving directions, etc. Apart from smart TVs, most of these wearable devices can be worn on eyes, wrist, ankles, etc. The report analyzes the current and future growth prospects of the market. Most of the products are under research and development or at a pre-commercialized stage and the study provides a futuristic market estimations based on some assumptions. Since most of the products are wearable devices, companies need to seek government approval in order to sell these products in the market. The report provides the implications of the government regulation on the market growth. The study analyses such key opportunities so that companies can plan their strategies to capture potential markets.

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The smart devices provide enhanced features such as optimized display, in-house health monitoring, etc. Since these advanced features are attracting consumer attention towards these devices, it is a key driver for the market growth. Additionally, possession of these smart devices is considered as a status symbol, which encourages consumers to buy these products. Another key driver for the market growth is that companies are developing several products that can perform multiple functions. For example, Google is developing smart contact lenses for monitoring blood glucose levels and they are looking forward to integrate other features such as blood pressure monitoring. However, the cost of the products is currently very high as compared to conventional devices which are the key restraint for the market. Moreover, the commercialization of most of the wearable devices is expected to take a long time as additional research is required, which is another restraint for the market growth.

Most of the companies are developing new products to increase market share and the primary strategy adopted by most companies is partnerships and collaborations as it allows them to share technical expertise. Some of the key companies profiled in this report are Samsung, Apple, Pebble, Mayo Clinic, Google, Adafruit, Sony, Panasonic and Vuzix.

Based on the Porter’s five forces model, the report analyzes the bargaining power of buyers & suppliers, threat of substitute products & new entrants and competitive scenario of the market. The market is at an evolving stage which increases the negotiation power of suppliers as they can market the products by highlighting the features of the products. Buyers have limited potency as the products are developed by new technologies and buyers have little knowledge about the products. The threat of substitute products is high as companies are developing multiple products for similar applications. Additionally, new entrants have easy entry in the market as they can introduce new products by indulging in technological innovations. Easy entry of new players and presence of big players such as Samsung, Google etc. intensifies the rivalry in the market. The impact of top ten factors consisting of drivers, restraints and opportunities is analyzed in the report based on the current market scenario and expected future trends. The top investment pockets are analyzed for each segment derived from the market estimations. The competitive landscape provides analysis of key strategies adopted by the companies.

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KEY BENEFITS
•Market estimations are derived from to the market trends for the period 2013-2020 with 2012 as base revenue
•Comprehensive analysis of the top factors that are driving and limiting the growth of the market is provided
•Deep-dive analysis of various geographies would give an understanding of the trends in various regions so that companies can make region specific plans
•The in-depth discussion of the supply chain participants of the market provides value chain analysis
•Deep-dive analysis of segment such as products provide insights that would allow companies to gain competitive edge

The global smart devices market is segmented on the basis of products and geography as follows:

By Products
•Smart TV
•Smart watches
•Wireless Accelerometer
•Google Glass
•GPS Jacket
•Smart Socks
•GPS Smart Shoes
•Smart Contact Lenses and Smart Wigs
•Others

By Geography
•North America
•Europe
•Asia-Pacific
•Rest of the World (RoW)

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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