Market outlook of the smart band market
Technavios research analyst predicts the global smart band market to grow steadily at a CAGR of around 8% during the forecast period. The high demand for wearable lifestyle devices is the key growth driver for this market. Consumers use smartwatches, smart bands, and wearable rings to monitor daily fitness and health activities, listen to music, check virtual/3D videos, play virtual games, and access social networking websites such as Facebook, LinkedIn, and Twitter. The popularity of these devices is highest among the younger population, especially in the US.
The strategic partnership among supply chain members is an emerging trend in the smart band market. In recent years, smart band manufacturers have increased their relationships with industry players worldwide. For instance, during 2015, HTC partnered with Under Armour to develop the Grip smart band.
Geographical segmentation and analysis of the smart band market
The Americas accounted for 65% of the market share during 2015 and is expected to retain its market leadership until the end of the forecast period. Its dominance was due to the presence of tech-savvy consumers with greater awareness of technologically advanced products such as smart bands. Fitbit, Garmin, and Jawbone; which are among the top five leading vendors in the market are also based out of the US.
Competitive landscape and key vendors
The global smart band market is characterized by intense competition due to the presence of multiple small and large vendors. Technavio predicts uncertain market growth for all vendors in 2016. Although large vendors such as Fitbit, Jawbone, and Samsung already have an established presence in the market, yet small vendors from APAC such as Xiaomi is taking over due to the low cost of manufacturing in the APAC region.
The leading vendors in the market are -
The other prominent vendors in the market include Lenovo, LG, Nike, Razer, and Sony.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global smart band market?
What are the key market trends impacting the growth of the smart band market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global smart band market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the smart band market?
Technavio also offers customization on reports based on specific client requirement.
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PART 01: Executive summary
PART 02: Scope of the report
Market size calculation
PART 03: Market research methodology
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Five forces analysis
PART 06: Market segmentation by geography
Global smart band market by geography
PART 07: Market drivers
Growing adoption of smart bands in APAC
Integration of advanced technologies in smart bands
High demand for wearable lifestyle devices
Miniaturization of electronic devices
PART 08: Impact of drivers
PART 09: Market challenges
Security and privacy issues
Low awareness of potential use of smart bands
PART 10: Impact of drivers and challenges
PART 11: Market trends
Rising investment in wearable technology
Strategic PARTnerships among supply chain members
Proliferation of low-cost smart bands
PART 12: Key vendor analysis
Other prominent vendors
PART 13: Appendix
List of abbreviations
PART 14: Explore Technavio
List of Exhibits
Exhibit 01: Countries considered
Exhibit 02: Product offerings by key vendors
Exhibit 03: Global smart band market 2015-2020 (millions of units)
Exhibit 04: Global smart band market 2015-2020 ($ billions)
Exhibit 05: Smart band ASP 2015-2020 ($)
Exhibit 06: Global smart band market 2015-2020 (millions of units)
Exhibit 07: Five forces analysis
Exhibit 08: Global smart band market by geography 2015-2020
Exhibit 09: Percentage of activity monitoring device owners by age in US 2014
Exhibit 10: Impact of drivers
Exhibit 11: Impact of drivers and challenges
Exhibit 12: Global smart band market by vendors 2015
Exhibit 13: Competitive scenario in 2016