Smart wearable entertainment devices and services: Key market research findings
- North America dominates the market geographically
- Increasing popularity of gesture recognition systems
- Key vendors – Apple, Garmin, Google, Samsung, Sony, AT&T, EE, Sprint, and Telefónica
Technavio’s market research analysts predict the global market for smart wearable entertainment devices and services market to grow at CAGR of 23% and 22% between 2016 and 2020, respectively. The growth of the market can be accredited to the augmented use of smart glasses for entertainment and gaming purposes. Smart glasses are portable devices that provide real-time entertainment and gaming experiences to end-users. These glasses enable users to capture 3D images, stream virtual videos, and enhance their virtual gaming experience. In 2015, the smart wearable entertainment services market was dominated by the North America with a market share of around 66%. The high adoption of smart wearable entertainment devices owing to its affordability will fuel the demand for smart wearable entertainment services in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the smart wearable entertainment devices and services based on the product.
“Gesture recognition is making waves in the smart wearable entertainment devices market. The recognition system has two types of gestures: user-defined gestures and control gestures. This technique provides an effective man-to-machine interface that helps interpret human gestures. This technology has enhanced virtual gaming, and audio and video streaming experiences. The use of gesture recognition aids the use of these entertainment processes without manual operations. Devices such as Ring and Myo function on gesture recognition technology and provide real-time gaming and entertainment experiences,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
The smartwatches segment accounted for around 38% of the overall market revenue to become the key revenue generating vertical in the global market during 2015. Consumers are increasingly using smartwatches to track and monitor their daily activity and fitness levels. These devices also provide calling features and messaging and email services. Smartwatches provide context-aware music to users. Users can also access their social networking accounts such as Facebook and LinkedIn through wearable screens. Samsung, Sony, Apple, Nike, and Google are the key providers of smartwatches.
The key vendors in the market include Apple, Garmin, Google, Samsung, Sony, AT&T, EE, Sprint, and Telefónica. With the increase in the adoption of wearable devices in North America and Western Europe, several telecommunication operators such as AT&T, EE, Telefónica, and Sprint are entering this market. These operators are integrating with wearable device manufacturers to provide innovative products at competitive prices to expand their market base. M&A will increase in the coming years because of the high potential of the market. The market’s high growth potential has also attracted several large players such as Sony Mobile, LG, and Samsung to invest in this market.
A more detailed analysis is available in the Technavio report, Global Smart Wearable Entertainment Devices and Services Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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