London, 10 November 2014 – TechNavio, a tech-focused research firm published a new report on the Global Connected Wearable Devices Market, which is expected to grow at a CAGR of 54.11 percent from 2014-2018.
Enhancements and convergence in technology, combined with better designs are some of the major drivers contributing to the growth of this market.
According to the latest report by TechNavio, the prices of wearable devices are also declining at a steady rate, as manufacturers attempt to boost sales by targeting a larger consumer segment. This in-turn is sustaining increased competition in the Global Connected Wearable Devices Market.
“This market in the US is witnessing intense competition between start-ups and large players. Therefore, several companies are reducing the retail sales price of their devices in order to stay competitive, capture a solid consumer base and maintain market share,” says Faisal Ghaus, Vice President of TechNavio.
“In the second half of 2013, the price of the Pebble Smartwatch was reduced by almost US$80. Similarly, Samsung launched its Gear 2 smartwatch for US$50 less than the previous version. The prices of several wearable devices are expected to decline, making them more affordable for end-users over the next few years.”
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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