London, 06 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Smartwatches Market 2015-2019, which is expected to post a CAGR of 96.8 percent during the forecast period of 2014-2019.
The sales of smartwatches are increasing because of an increase in the number of vendors and a reduction in ASPs. Several smartwatch vendors are focusing on providing increased functionalities and better designs to attract consumers. Smartwatches are treated as luxury goods but this perception is now changing, and vendors are targeting the mass market. This has resulted in the production of low-cost smartwatches, which evinced interest among consumers.
“The demand for wearable technology in fitness and sports has been increasing rapidly because of an increase in health awareness among individual consumers,” says Faisal Ghaus, Vice President of TechNavio.
“Many users are buying smart fitness devices in the form of wristbands and armbands to keep a check on their physical fitness.”
Key Market Drivers
- Renewed Interest among Consumers
- Increased Adoption of Connected Services
- Compatibility with Several Devices
- Increased Competition
Key Market Trends
- Alliances with Fashion Industry
- Cross-over Products
- High Demand for Fitness Devices
- Crowdfunding
Key Market Vendors
- LG Electronics
- Motorola
- Pebble Technology
- Samsung
- Sony
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
