Global demand for smart watches is projected to grow at a CAGR of over 16% and surpass US$ 30 Bn in revenues, according to a new research report added to the database of Market Research Reports Search Engine (MRRSE). According to the report titled “Global Market Study on Smart Watch: Hybrid Smart Watch Segment Poised to Increase 3.6X in Terms of Value Between 2017 and 2025”, manufacturers are focusing on expanding their user base in emerging economies, where a rapidly booming middle class is pushing up sales. The global smart watch market has been covered in detail in the report.
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The research report analyzes the key drivers, restraints, opportunities, and threats that are shaping the growth of the global smart watches market. Rising disposable income, pervasiveness of smartphones, and increase in tech savvy consumers are among the key driving factors for the market. However, high price of smart watches, combined with limited functionality has prevented widespread proliferation of smart watches.
The market segmentation carried out in the report is quite comprehensive and covers the entire spectrum. On the basis of type, the segmentation offered in the report includes standalone, hybrid, and extension. Among these, extension smart watches account for the highest value, whereas hybrid segment leads in terms of fastest CAGR. The report also offers segmentation on the basis of operating system – the key segments according to the segmentation include watchOS (iOS), Linux, RTOS, Android Wear, and Tizen.
In a bid to give stakeholders detailed insights about the demographics which account for the majority of revenues in the market, the report has segmented the market on the basis of age group. The age group 25-34 years continues to be the most lucrative in the market, whereas 15-24 years has been analyzed as growing at a fast CAGR. Analysis on the basis of price range has also been carried out, with high, medium, and low among the key segments. On the basis of sales channel, the reports offers forecast and analysis on the basis of online e-commerce, organized retail channel, and unorganized retail store.
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The leading companies profiled in the market include Apple Inc., Samsung Electronics, Fitbit Inc., Nokia Corporation (Withings), Garmin Ltd., Fossil Group, Inc., Samsung Electronics Co., Ltd, LG Electronics, Tag Heuer International SA, and Sony Corporation. The report profiles these companies and a detailed commentary on the product and business strategy is offered to readers. Overall, the report is a comprehensive source of information and analysis that will give readers all the insights on the global smart watch market.
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