Growing demand for high and non phthalates to Drive Global Smartwatches Market
Smartwatches Market by Price Range (High-end, Mid-end and Low-end) by Operating System (Android Wear, Watch OS (iOS) and Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021
Zion Research has published a new report titled “Smartwatches Market by Price Range (High-end, Mid-end and Low-end) by Operating System (Android Wear, Watch OS (iOS) and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021” According to the report, the global smartwatches market was valued at approximately USD 16.44 billion in 2015 and is expected to reach approximately USD 21.09 by 2021, growing at a CAGR of around 53.01% between 2016 and 2021. Global demand for smartwatches stood around 21.1 million units in 2015 expected to reach 108.2 million units by 2021 with a CAGR of 42.8% during estimate period.
A smartwatch is a digital wristwatch which is fully programmable watch with the capability to interact with other devices and Internet services. It is an attractive form factor for wearable computers. It has the advantages like easy to carry, time management and other functionalities. The smartwatches are companion to smartphones. Near-field communication (NFC) or bluetooth are some connecting technology used to connect the smartwatch to smartphones. Smartwatches are used to provide notifications to its user and can also be used to track health parameters such as heart rate, distance traveled, etc.
Browse the full “Smartwatches Market by Price Range (High-end, Mid-end and Low-end) by Operating System (Android Wear, Watch OS (iOS) and Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021” report at http://www.marketresearchstore.com/report/smartwatches-market-z59823
The smartwatches market is expected to witness significant growth due to the increasing usage of smartphones and high demand of internet accessibility. The major driving factor for smartwatches market is transforming technological preferences in young population like wide use of different electronic gadgets. Entry of new startups and further market penetration of established players is projected to intensify the competition in the market arena. The high demand of low range smartwatches from price conscious people is expected to develop an astounding growth in key players of this market. Affordable prices of smartwatches and rising demand from young population are emerging trend which is likely to open new market avenues in the near future. However, some restraints like limited battery life associated with product may hamper the growth of this market.
On the basis of price range of smartwatches, the global smartwatches market is divided into high-end, mid-end and low-end smartwatches. High-end smartwatches accounted for approximately 90% share of the global market in terms of revenue in 2015. This was mainly due to the awareness of the smartwatch as fitness tracking device. Mid-end smartwatches was the second largest segment of the global smartwatches market.
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