From communication to health tracking on the go, an exciting device tied on the consumer’s wrist, aptly called a smartwatch, offers nearly every feature that a smartphone would typically offer. While people have been wearing timepieces for centuries, these latest gizmos bundle cutting edge mobile technology and do a lot more than just show the time. Smartwatches have been touted as next-generation devices that are set to transform consumer lives, and our market research experts predict they will thrive over the next four years.
Samsung, Sony, and LG were the first to introduce smartwatches in the global market. Later, Apple took its first step in the smartwatch industry with iWatch and unsurprisingly became the leading producer of disruptive smart watches. Fitbit, Fossil, and Guess opted to enter the Android Wear project as well. Consequently, the following are the top 10 brands that are dominating the global smartwatch market, as per the market research experts at Technavio.
1) Apple
Coming on the heels of the successful Apple Watch launch in 2015 and with regular upgrades, it is clear that Apple is on top of its game in a way like none other. The secret lies in their product line and design standards. With the introduction of a sequence of smartwatches including Hermes, Nike+ along with series 1 and 2, Apple watches deliver a slew of compelling features as part of their offering.
2) Samsung Group
Samsung has not only been a popular name in the production of mobile phones and similar technologies, but it has a diverse business portfolio that includes advanced semiconductors, petrochemicals, plant construction, skyscrapers, alongside fashion, finance and medicine. The company is a leading global brand in electronic manufacturing and digital media. Samsung offers a variety of products as smart wearable devices under its Gear portfolio which includes the Gear, Gear 2 Neo, Gear 2, Gear Fit, and Gear S range of smart watches.
3) Lenovo Group
The Chinese multinational company, Lenovo group, has expanded its business globally with its head offices located in Beijing, China, and Morrisville, US. With its existence in more than 160 countries, the company has a large customer base and a vast product portfolio. Lenovo’s smart wearable product featured as Moto 360 Sport offers a slew of specifications such as Wi-Fi connectivity, Android Wear OS, which includes heart rate sensors, and dual digital mics.
4) Garmin
Along with its subsidiaries, Garmin designs, develops, manufactures, and markets handhelds; portable, wrist-based, and fixed-mount GPS-enabled products alongside navigation and communication products globally. Some of the smart watches offered by the company are Fenix 5, Vivoactive HR, Fenix Chronos, Forerunner 35, Vivomove, Forerunner 735XT, and Fenix 3 Sapphire.
5) Fitbit
Fitbit was founded in 2007 to deliver exclusive personal wireless communication solutions that redesign the way we stay connected to the world. It manufactures and sells activity trackers for fitness as well as develops sensors and wireless technology for the health and fitness sector. The first product announced was the Fitbit Tracker. Fitbit sells its products in over 45,000 retail stores, in over 50 countries globally.
6) LG Electronics
One of the oldest companies in Asia, founded in 1958 as Goldstar, LG Electronics produced South Korea’s first TVs, refrigerators, radios, washing machines, and air conditioners. LG together with Google announced their first Android Wear-based smartwatch in June 2014 imaginatively named the LG G Watch. It followed that up with a pair of slick looking Google-powered smartwatches: the LG G Watch R and the LG Watch Urbane. The company is set to launch a number of new smartwatches by the year end of this year.
7) Huawei Technologies
Huawei has officially entered the sphere of smartwatches with the announcement of Huawei Watch. The affordable luxury watch is not only smart, but the frame’s timeless design can be tailored with 40 face options. The Chinese multinational networking and telecommunications company offers various customer products such as phones, PC tablets, and wearables. It has a rich portfolio of smartwatches such as the Huawei Watch 2, which can connect to 4G, GPS, has SIM/eSIM, and can make calls.
8) Fossil Group
Since introducing its first smartwatch in the fall of 2015, Fossil Group- an American fashion brand, has launched more than 150 touchscreen smart watches, hybrid smart watches, activity trackers in 20 languages throughout 40 countries for brands including Diesel, Chap, Emporio Armani, Kate Spade New York, Michael Kors, Skagen, and Misfit. The new Fossil Group brands entering the wearables sphere in 2017 include DKNY, Marc Jacobs, Relic and Tory Burch.
9) Polar Electro
Polar Electro is the manufacturer of sports training computers and heart rate monitoring equipment. It was the first company to develop wireless heart rate monitor. Some of the popular models of Polar watches are A300, Polar Loop, and Polar Loop 2, with prices ranging between $100 to $130.
10) ASUSTeK Computer
Asustek is a Taiwanese multinational electronics and hardware company which offers smartwatches under the flagship name ASUS Zenwatch and ASUS Zenwatch 2. The Asus Zenwatch (WI500Q) uses a Qualcomm Snapdragon 400 1.2 GHz processor and delivers a range of services from managing calls, presentations, and also features a competent wellness manager application.
How Technavio can help? Understand the global smartwatch market from an expert’s perspective. The associated market research report from Technavio can be sourced for free from the following links.
