According to Technavio’s latest market research study, the global smartwatch market is expected to grow at a CAGR of more than 16% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global smartwatch market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the operating system (OS)
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The top three revenue contributing OS segments are discussed below
Global smartwatch market by watchOS: WatchOS, the mobile OS of Apple Watch, is designed to run on smartwatches while being a subset of iOS developed by Apple. It has features that are similar to the iOS. Furthermore, watchOS devices can pair up only with iOS devices. A majority of Apple watches currently run on watchOS 3. It has a dock that holds all the favorite and frequent apps of users. It offers three new watch faces such as Minnie Mouse which announces the time, activity face that shows activity rings, and a simple numerical face.
“During 2017, Apple released watchOS 3.1.3 software, which is an update version for all the Apple watches. watchOS 3 was launched in September 2016. It sports several features such as new watch faces, control center, activity sharing, and instant-open apps,” says Ujjwal Doshi, a lead analyst at Technavio for research on consumer electronics.
Global smartwatch market by Tizen: Tizen is the backend OS of Samsung. It is a Linux-based platform and works on Samsung smartwatches. Even though Tizen is Samsung’s OS, it is managed by Linux. Tizen smartwatches can pair up with Android, iOS, and other Tizen devices while supporting the standalone functionality. Tizen application programming interface, which includes Bluetooth and NFC, is actively used by developers across the globe. According to Technavio’s market research analysts, the global smartwatch market by Tizen is projected to register growth at a CAGR of around 22% between 2017 and 2020.
Global smartwatch market by Android Wear: Android Wear is the Android OS of Google, which is specifically designed for smartwatches and wearables. It can download apps from Google Play Store while supporting Bluetooth, Wi-Fi, 3G, and LTE connectivity. Android Wear 2.0 is an update so far for the Google’s smartwatch OS. Samsung, Motorola Moto, Garmin, and LG smartwatches use Android Wear OS. Smartwatches with Android Wear can function independently of a tethered smartphone using Bluetooth, Wi-Fi, or cellular networking technologies. The OS also supports standalone Play Store. With the latest updates, Android Wear provides activity counting and allows users to stream music using Wi-Fi and LTE connectivity.
The top vendors operating in the global smart watch market are:
- Apple
- Samsung Group
- Lenovo Group
- Garmin
- Pebble Technology
- Fitbit
Other prominent vendors in the market include ASUSTeK Computer, Fossil Group, Huawei Technologies, LG Electronics, Motorola Mobility, Omate, Polar Electro, Razer, Sony, and Xiaomi.
A more detailed analysis is available in the Technavio report titled, ‘Global Smartwatch Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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