The global smartwatch shipment volume is estimated to reach 134 million units in 2020 as the market has been inspired by the new generation of Apple Watch which can work without an iPhone and perform outstandingly in the medical sector over the years. As a result, the CAGR (Compound Annual Growth Rate) of the global smartwatch market between 2018 and 2022 is estimated at 16%. Apple Watch has been the most appealing with unique functions and appearance and thus has been the best-selling product of its kind over the past two years. For this reason, other counterparts have been imitating Apple Watch’s specifications and functions. This report provides the development of the global smartwatch market, focuses on three key development trends observed and examines product strategies of key players, such as Apple, Fitbit, Fossil, and Garmin.
Table of Contents
1.Development of the Global Smarwatch Industry
1.1 Apple Watch to Drive Global Market Growth
1.2 Apple the Biggest Player in Smartwatch Market
2.Global Development of Smartwatch Features
2.1 Three Major Smartwatch Trends
2.2 Three Development Trends of Smartwatch Functions
2.2.1 Direct Internet connectivity as Key Feature of Multi-functional Smartwatches
2.2.2 Popularization of NFC Payment
2.2.3 Smartwatches as Personal Health Monitoring Gadgets
3. Product Strategies of Leading Smartwatch Vendors
3.1 Apple Taps into MVNO Market with Direct Internet Access
3.2 Fitbit Targets Demand for High Price-Performance Products and Aggressively Taps into Healthcare Market
3.3 Fossil Defends Market Share with Fast Time-to-Market Strategy and Basic Smartwatch Functions
3.4 Garmin Avoids Competition with GPS Smartwatches Designed for Sports
3.5 Smartwatch Features Give a Clue to Vendors’ Future Developments
Glossary of Terms
List of Companies
List of Tables
Table 1 Worldwide Smartwatch Shipments by Vendor, 2016 - 2017
Table 2 Development of Smartwatch Functions in 2017 and 2018
List of Figures
Figure 1 Worldwide Shipment Volume of Smart Wearable Devices, 2015 - 2022
Figure 2 Features and Prices of Top 5 Smartwatch Brands
Figure 3 DexcomG5 Continuous Glucose Monitoring System Co-developed by Fitbit and Dexcom
Figure 4 Fossil’s Smartwatch with Watch Hand Movements
Figure 5 Comparison of Smartwatch Features Provided by Vendors
Development of the global smart watch industry, touching on development of Apple and other brands
Development of smart watch features and includes its three key trends
Development of brands, including Apple, Fitbit, Fossil, and Garmin, and their product strategies
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.