Technavio, a tech-focused market research firm, has published a new report on the global wrist wearable market, which is expected to experience a progressive growth rate with a CAGR of close to 11% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global wrist wearable market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global wrist wearable market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global wrist wearable market for 2015 (revenue $ billion)
|
Americas |
7.79 |
|
APAC |
3.39 |
|
EMEA |
3.05 |
Source: Technavio
The America: Largest revenue generating region for wrist wearable
The global wrist wearable market in the Americas was valued at almost $8 billion in 2015 and will grow at a CAGR of around 6% by 2020. The US was the leading revenue contributor in this region with a market share of nearly 30% globally in 2015. The growing availability of technologically advanced products will lead to the growth of the American market. It is estimated the Latin American countries will also increase their contribution to the revenue during the forecast period.
“The increasing awareness among the general population towards the use and advantages of wrist wearables will fuel the development of the market. The companies are increasing their investment to tap the potential opportunities of business growth and profitability in the American market. The availability of advanced technologies will encourage vendors in the area to launch new and innovative products. The most popular wearable brand in the region includes Fitbit and Apple,” says Ujjwal P Doshi, a lead analyst at Technavio, specializing in research on consumer electronics.
Click here to request a free sample of this report
Wrist wearable market in APAC
The global wrist wearable market in APAC was valued at over $3 billion in 2015 and will grow at a CAGR of around 17% by 2020. The smartwatch companies are focusing on the development of new technologically advanced devices in the region. The vendors are integrating voice-based command features in order to offer the customers with a dynamic experience and to increase their sales. China and India are becoming popular as an emerging hub for low-cost Android-based smartwatches and other wrist wearable devices. The entry of new market players is expected to boost the competition in the market during the forecast period.
Wrist wearable market in EMEA
The global wrist wearable market in EMEA was valued at around $3 billion in 2015 and will grow at a CAGR of almost 15% by 2020. The fitness conscious consumers are using smart wearables extensively which, in turn, is driving the growth of the market in EMEA. The vendors are launching wrist wearables with smart features like Bluetooth connectivity, heart rate tracking mechanism, professional athlete’s efficiency, heart rate training support via Bluetooth-connected headphones, and GPS tracking. Such innovations are strategies adopted by the companies to attract more consumers and boost their profitability. For instance, Adidas aims to launch a new advanced version of their smartwatch to attract new consumers.
The top leading vendors operating in the global wrist wearable market are:
- Apple
- Fitbit
- Garmin
- Jawbone
- Lenovo
- Samsung Electronics
- Xiaomi
Other prominent vendors in the market include Adidas, Amiigo, Asus, Atlas Wearables, Baidu, BBK, Fitbug, Flyfit, Fossil, Goqii, Healbe, iFit, Jaybird, LG, Martian, Misfit, Mota, Movable, Mushroom Labs, Nautilus, Nike, Pivotal, Polar, Razer, Runtastic, Skechers, Sony, Striiv, TAG Heuer, Titan, and YU Televentures.
A more detailed analysis is available in the Technavio report titled, ‘Global Wrist Wearable Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Smart Wearable Entertainment Devices and Services Market 2015-2019
- Global Classroom Wearables Technology Market 2016-2020
- Global Fitness Bands Market 2015-2019
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
