The market for smartwatches is witnessing a double-digit growth rate globally. North America is a promising and a highest revenue generating geography for smartwatches. As per the estimates, North American region generated nearly 1/3rd of the market revenue in 2013, and it is further expected to grow at a significant rate. However, in the near future, the growth of this market is expected to be driven by the Asian region with China emerging as a popular hub, being a low-cost Android based smartwatch manufacturer.
Out of the total smartwatch shipment in 2013, Samsung held a market leader position, followed by Nike and Garmin. The global market is witnessing a huge inflow in the number of companies and is expected to grow manifold from the existing number of 40 companies at present. As of now, the market is purely driven by the leading tech companies such as Samsung, Apple, Google, etc.; however, in the near future, the entry of watch companies is expected to increase the competition and dynamics of this market.
Led by innovations, the smartwatch companies are spending heavily on R&D. Top players such as Samsung, Pebble, Maritime and Sony are counting on their R&D investments to be the dominant strategy to maximize on the respective market shares. Further, Strong distribution support is another key aspect that is imperative to this market. The leading companies are collaborating with their suppliers and re-sellers to penetrate into this market through the right selection of channel, geography and target audience.
The report highlights the major mile stones of the smartwatch market with details covering the key influencing factors impacting this market. An in-depth insight on the competitive scenario and its evolution in the near future has been covered in the report along with the forecast of the future of the smartwatch market worldwide. Key players such as Samsung, Pebble, Garmin, Nike, Sony, Fitbit and Casio have been profile with elaborated information on business overview, financials, product portfolios, investments, news and recent developments.
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