The high-tech device set to witness a gigantic 350% growth by the end of 2014
Watches
today have got a new term added to them-SMART. The evolution of smart
watches changed the purpose of using watches vastly; the current users
of these watches get everything updated just by clicking the screen on
their wrist. Gone are days when watches were mere time showing devices;
they are today highly upgraded technology devices which are expected to
have a mammoth growth in sales from being the present small sector. The
sales of these smart watches are expected to cross a whopping 350% by
the end of this year and if the experts are to be trusted, this is just
the start.
The smart watch industry recorded a shipment of 20,000
wearable branded devices by the first half of 2013. The same shipment
numbers jumped by a brow raising 700% and recorded a shipment of 1.6
million devices including different brands. These devices are getting
more famous among its users as the count of tech geeks using these
wearable devices is increasing around the globe. The shipments are
estimated to close at over 8 million by the end of 2014. The device is
predicted to have an additional 15 million sales just within a year as
the shipment units are bound to reach a massive 23 million by the close
of 2015.
Fitness monitoring is the leading application used in
these smart watch devices and though the number of users today is
relatively low; it is sure to jump as health awareness and healthcare
segment is developing fast thus making the utilization of such advanced
technology for constant monitoring necessary. According to the market
research, specialists from the segment indicate that the current year
2014 will be the game changer for these smart brands and place their
demands to unprecedented rates for the years to come.
As stated before, fitness is the major concentrated segment for this smart watch market
as personal self-health monitoring was first made a reality in early
2013. Fit-bit launched the first health tracker and holds a dominating
share of 58% of the total market demand since its introduction in the
year 2013. The company has its variants such as Flex and Force which had
massive introductions in May and October respectively. The smart
wearable maker is followed by Jawbone UP which holds a 21% market share
and Nike's Fuel-band range of devices with a share of 13%.
As per
the shipment records of these hi-tech devices; Samsung rules the
industry with its Galaxy Gear product that held a share of 54% by the
second half of 2013. The maker pushed this product with a nickname
"Smart Band" which as expected turned into a craze among its users. The
list is followed by Sony with a 19% share and Pebble which posted 16%
sales for the year 2013. Other companies together displayed a notable
performance with an 11% sale.
Licia Margarete has a passion for writing and has chosen it as
her full time profession; she is a Content Analyst at Bharat Book
Bureau; a market information aggregator. This organization provides
vital data in the form of research reports, country reports and company
profiles from across industries all around the world. Licia is an
experience hand at drafting informative content as she is doing it since
last 5 years. Lifestyle, Travel, Food and Drinks, Technology, Manufacturing are some of the topics that interest her the most.
By
Licia Margarete
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