Global Smartwatch Market to grow at an impressive CAGR of approximately 12% by 2020

Albany, NY, Feb 20, 2017: In terms of unit shipments, Technavios market research analyst predicts the global smartwatch market to grow at an impressive CAGR of approximately 12% by 2020. The widespread availability of smartwatches with advanced functionalities and features is expected to augment the interest of technology and fitness enthusiasts during the forecast period.

The high compatibility of smartwatches with other mobile computing devices is expected to be the key driver for the growth of this market. Nowadays, smartwatches can be connected to devices like TVs, media players, headsets, smartphones, laptops, PoS devices, and other devices having Bluetooth and NFC capabilities. This high compatibility of smart watches is a significant factor that is expected to augment market growth during the forecast period.

Geographical segmentation and analysis of the global smartwatch market
- Americas
- APAC
- EMEA

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In this market research report, analysts have estimated the Americas to dominate the global market for smartwatches during the projected period. This region presently accounts for more than 68% of the total market share and is envisaged to retain its dominating hold over the market during the forecast period owing to factors like rapid advances in technology and changing consumer preferences over the usage of electronic devices.

Competitive landscape and key vendors
The global market for smartwatches is extremely competitive and is primarily dominated by large global players like Apple and Samsung. To gain traction in this market, many vendors are now forming strategic partnerships with other industry players to attract new customers to the wearable market. Since this market is still in its growth stage, many new players are expected to enter the market as it has a huge growth potential.

The leading vendors in the market are -
- Apple
- Fitbit
- Pebble
- Samsung
- Sony

Other prominent vendors in the market include ASUSTeK Computer and PolarElectro.

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