Smartwatch began as a passing fad, and later turned out to be a trend which is here to stay., With high rate of adoption across the world, the smartwatch section has created a massive impact in the watch industry, People are eyeing at smartwatches to have something more versatile on their wrist beyond just timekeeping. Thanks to the integrated operating system comprising watchOS, Android, Tizen and other OS in watches, smartwatches now have its own smart apps, games, and entertainment apps – just like the smartphones.
A smartwatch is a discrete window to one’s smartphone allowing the wearer to leave their phones in the pocket and yet optimize and practice the enhanced features of making calls, messaging, and receiving notifications.
The exclusive sneak peek: What’s ahead for vendors?
The global smartwatch market is undergoing a rapid technological transformation as vendors are striving to integrate novel features that can supply them an edge over the competitors. Technavio’ s industrial experts predict the market to reach $24 billion over the five years’ period with a moderate growth rate. WatchOS is the major operating system contributing to the growth of the global smartwatch market with the uppermost market share.
The motivation: Power on your wrist
Consumer adoption of network-connected devices such as smart appliances and smart devices including smartphones, smartwatches, and wearable technology is on the rise, thanks to the high adoption of the Internet of Things (IoT). In addition to this, smartwatches by various brands including Samsung and Apple perform tasks of navigation, music playing, and web browsing without the need of smartphone being wirelessly attached to it. The practice of cellular networking technologies makes the smart watches independent that indeed acts as a driving force in the growth of the global smartwatch market.
A watch into the future: Possible challenges
The smartwatch industry is facing several challenges on its way towards growth. From lack of understanding on the potential use of smartwatches, to the high cost of its production are some of the major reasons which has effected the adoption of this product. Apart from this, the technological glitches including battery life issues, device compatibility issues and availability of products with same functionalities are the major hurdles in in the global smart phone market. Thus, these challenges have resulted in a limited growth in the global smartwatch market.
Technavio’s smart solutions
In the last few years, the global smartwatches market has been undergoing rapid technological changes, with players coming up with innovative new features for the product. The constant evolution in the industry are the noteworthy points for vendors to study the market properly before entering. As the smartwatch industry is constantly evolving, it is important that new players take all the aspects into account before entering the industry.
Technavio’s comprehensive market insights discusses all the important facets of this fast-evolving industry to aid the associated firms to gain an in-depth knowledge of market and competitive landscape.
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