Global Wrist Wearable Market to Grow 12.61% CAGR 2017 to 2021 – Analysis of Apple, Fitbit, Garmin, Lenovo, Samsung Electronics, and Xiaomi

MarketResearchNest.com adds “Global Wrist Wearable Market 2017-2021” new reports to its research database. The report spread across 80 pages with tables and figures in it.

The research analysts forecast the global wrist wearable market to grow at a CAGR of 12.61% during the period 2016-2020.

Wrist wearables are computerized watches that are designed with enhanced functionalities such as making calls, messaging, and browsing the Internet. These devices are integrated with an operating system that can be used across multiple devices.

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Technavio recognizes the following companies as the key players in the global wrist wearable market: Apple, Fitbit, Garmin, Lenovo, Samsung Electronics, and Xiaomi.

Other Prominent Vendors in the market are: Adidas, Amiigo, AsusTek Computer, Atlas Wearables, Baidu, BBK Electronics, Fitbug, FlyFit, Fossil, GOQii, Healbe, iFit, Jaybird, LG Electronics, Martian, Misfit, Movable, Mushroom Labs, Nautilus, Nike, Pivotal, Polar, Razer, Runtastic, Skechers, Sony, Striiv, Tag Heuer, Titan, and YU Televentures.

The latest trend gaining momentum in the market is Growing niche market for wrist wearables. The popularity of wrist wearables has been growing to a large extent in the global smart wearables market. Apart from smartwatches and fitness bands, the vendors in the market are focusing on the development and manufacture of various other wrist wearables, including bracelets and tags.

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According to the report, one of the major drivers for this market is Compatibility with other electronic devices. One of the most significant features of a smartwatch is its ability to connect with several devices such as TVs, media players, headsets, smartphones, laptops, point-of-sale devices, and several other devices that have Bluetooth and NFC connectivity capabilities. Currently, smartwatches can be connected with headsets and smartphones. This is expected to change soon as smartwatches will be used to make payments and control lighting in the future. Also, several third-generation smartwatches are integrated with Wi-Fi connectivity, which enables them to be connected to several devices efficiently.

Further, the report states that one of the major factors hindering the growth of this market is Data privacy and security issues. There is a large amount of sensitive information (related to the users) that is transferred by the wrist wearables to other electronic devices. The data transferred and collected varies from the information related to the health condition of the user to his/her location that is tracked by the GPS installed in the wearable device. Most of the GPS are controlled by their respective network operators, which creates privacy concerns. Furthermore, the misplacement or theft of these devices makes them more prone to be hacked.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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