Competition Apple Smart Watch, Wearable Tech Market Growth - Ken Research
by Ashish Kumar Market ResearcherThe report titled “The US Smart Wearable Devices Market by Type (Fitness Bands, Smart Watch,
Smart Eyewear and Others), by Distribution Channel (Online, EBOs, MBOs, Others)
– Outlook to 2021”
provides a comprehensive analysis of the US smart wearable health devices
market. The report focuses on overall market size by revenue and volume sales,
segmentation on the basis of type of device (fitness band, smartwatch, smart
eyewear and others) and on the basis of distribution network (online, exclusive
store, organized retail and others). Value chain analysis along with the
factors to be considered before making the purchase decision provides some key
input on the practices adopted in US smart wearable health devices market.
The report also covers detailed snapshot on major and
emerging companies in the smart wearable health device market including growth
drivers, issues and challenges, and market share. The report further includes
market projections for future and analyst recommendations highlighting the
major opportunities and cautions in the US market.
Market Size
By Revenue and Volume
Sales: Market for
smart wearable health devices has grown significantly in the last three years
(2014-2016). The market on the basis of revenue generated from retail sales
increased from USD ~ billion in 2014 to USD ~ billion in 2016. It registered ~%
growth in 2015 and ~% in 2016. Increased cost due to sale of advanced products
and higher priced Apple smart watch and more expensive smart eye wearables was
the key reason for such a higher increase in terms of revenue generation. Volume
sales during the same period increased from ~ million in 2014 to ~ million in
2016. Fitness bands were the most sold smart wearable health devices followed
by smart watch and smart eyewear. Apple, Fitbit, Garmin, Samsung, Pebble,
Motorola, Sony were some key players in the smart wearable market in the US.
Market Segmentation:
By Type of Device: Fitness bands were most popular
smart wearable smart devices sold in the US market accounting for ~% of the
total sales. An estimated ~ million fitness bands were sold in the US market.
Fitbit leads the market in this segment with Garmin being the second largest
player on the basis of volume sales. Smart watches (~%) were the second most
demanded wearable device in the US market with an estimated sales volume of ~million
in 2016. Smart eyewears and other products such as smart clothes, heart
monitors, Elvie, blood monitors and other specific health parameter monitoring
devices contributed ~% of the total demand. By Type of Distribution Network:
Online retail accounted for majority of the smart devices sold in the US
market. In 2016 an estimated ~% of the total sales executed in the US wearable
market was through online portals such as Amazon and company websites. Crowd
funding websites also made small contribution to the online sales. An estimated
~ million devices were sold on online platforms. Company outlets of Apple
Samsung Sony Garmin and others contributed ~% of the total sales by volume and
equal number were sold by organized retail stores such as Walmart, Target, Best
Buy and others. ~% of the devices were sold through others channels such as
independent retail stores, pharmacies, corporate sales and others.
Market Share of Major
Players
Fitness Band: Fitbit was the leading player in the
US fitness band market. It managed to sell an estimated (~%) of the total
fitness band sold in the US in 2016. Promotional deals on Black Friday and
Cyber Monday helped the company to increase its sale in terms of volume. Garmin
was the second largest player. Its Vivofit fitness band, Vivo HR and HR+ are
some key products. Other major players contributed ~% of the total sales by
volume. These mainly included Jawbone, Samsung, Mi Band and other small
players.
Smart Watch: Apple emerged as the leading player
in smart watch segment accounting for more than half (~%) of the total smart
watched sold. Samsung Gears were second most popular smart watches in the US
accounting for ~% of the total sales in 2016. Samsung gear S2 and Gear fit 2
were the key product available in the US market during 2016. Traditional watch
companies such as Tag Heuer, Fossil also made significant contribution in terms
of revenue as their watches are priced at the premium. Minor contribution was
made by Pebble, Motorola, Garmin and others. Together they accounted for ~% of
the total sales.
Future Outlook
By Type of Product: Smart watches will gain popularity
in the future and are expected to sell more than half (~%) of the total smart
wearable devices to be sold in the US. Sales are expected to reach ~ million
devices in 2021. Apple is expected to continue with its dominance due
innovative technology, brand conscious consumers and slightly competitive
pricing. Products are expected to become independent of smart phones as
technological advancements are achieved. Demand for smart eyewear is expected
to witness a very healthy growth as they are expected to become part of normal
day to day life. Prescription based smart wear is expected to gain a much
larger demand in future as doctors will find it useful to remotely monitor the
vitals. Penetration of such devices is also expected to increase.
By Type of Distribution
Channel: Online
retail will continue to remain the dominant market place for sales and
distribution of smart wearables accounting for more than half (~%) of the total
sales. Many large retail chains are expected to establish and promote their
online retail stores which will further give the boost to online retail demand
in smart wearable sections. Company outlets are expected to grow in future even
though the online presence is increasing mainly on account of user experience
that one may get at these stores. Organized retail offers the best opportunity
to get on hand experience about the product from new and emerging companies. It
is expected that eyewear stores will be the largest beneficiary of the sale in
the organized retail segment as prescription based smart glasses gain market.
Key Topics Covered in
the Report:
Introduction and Genesis to Smart Wearable Health Devices
Factors to be Considered Before Making a Purchase Decision
US Smart Wearable Health Devices Trends and Developments,
Growth drivers, Issues and Challenges
Market segmentation by type of Devices, and Sales
Distribution Network
Market Share of Major Players in The Smart Watch and Fitness
Band Segment
Competitive Landscape of Major Players
Smart Wearables Industry Growth
Consumer Smart Wearable Market Potential
Smart Wearable Fitness Devices Sensors Market
Wearable Fitness Products Market
Sales Dealers Smart Wearable
Wearable Tech Market Growth
VivoFit Market Share US
Competition Apple Smart Watch
Smart Watches Market by value
Wearable Electronics Market Trends
Wearables market overview
Volumes Sales Smart Wearable Market
Smart Wearable Latest Development US
US Smart Wearable Health Devices Trends
Issues and Challenges Fitness Band
Value Chain Analysis Smart Devices
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Created on Oct 31st 2017 05:07. Viewed 501 times.