Global Smartwatches Market Set For Rapid Growth, To Reach Around USD 21.09 Billion By 2021

The report covers forecast and analysis for the smartwatches market on a global and regional level. According to the report, the global smartwatches market was valued at approximately USD 16.44 billion in 2015 and is expected to reach approximately USD 21.09 by 2021, growing at a CAGR of around 53.01% between 2016 and 2021. Global demand for smartwatches stood around 21.1 million units in 2015 expected to reach 108.2 million units by 2021 with a CAGR of 42.8% during estimate period. The study includes drivers and restraints for the smartwatches market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the smartwatches market on a global level.

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In order to give comprehensive view on the smartwatches market to users of this report we have included an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein price range segments and operating system segments are benchmarked based on their market size, growth rate and general attractiveness.

The smartwatches market is expected to witness significant growth due to the increasing usage of smartphones and high demand of internet accessibility. The major driving factor for smartwatches market is transforming technological preferences in young population like wide use of different electronic gadgets. Entry of new startups and further market penetration of established players is projected to intensify the competition in the market arena. The high demand of low range smartwatches from price conscious people is expected to develop an astounding growth in key players of this market. Affordable prices of smartwatches and rising demand from young population are emerging trend which is likely to open new market avenues in the near future. However, some restraints like limited battery life associated with product may hamper the growth of this market.

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On the basis of price range of smartwatches, the global smartwatches market is divided into high-end, mid-end and low-end smartwatches. High-end smartwatches accounted for approximately 90% share of the global market in terms of revenue in 2015. This was mainly due to the awareness of the smartwatch as fitness tracking device. Mid-end smartwatches was the second largest segment of the global smartwatches market.

Android wear, watch OS (iOS) and other like tizen OS, pebble OS, LinkIt OS, etc., are the operating system used in smartwatches. Android wear smartwatches dominated the global market and accounted for significant share of the overall market share in 2015. This is primarily owing to high number of applications of smartwatches.

The study provides a decisive view on the smartwatches market by segmenting the market based on price range, operating system and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2015 to 2021. Based on price range the market is segmented into high-end, mid-end and low-end smartwatches. Android wear, watch OS (iOS) and other like tizen OS, pebble OS, LinkIt OS, etc., are the operating system used in smartwatches. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India and Brazil. This segmentation includes demand for smartwatchesbased on individual operating systems in all the regions and countries.

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The report also includes detailed profiles of end players such as Apple Inc., Nike Inc., Garmin Ltd., Qualcomm Incorporated, Sony Electronics Inc., Martian Watches, Pebble Technology Corporation, Fitbit Inc., ConnecteDevice Ltd., and Samsung Electronics Co. Ltd. The detailed description of players includes parameters such as company overview, financial overview, business and recent developments of the company.

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