Industry Background:
Wrist wearable is likely to witness significant growth in the forecasted period owing to the growing demand for high quality and larger display smartwatches and wrist band amid a growing focus on automation. Wrist wearable refers to a small timepiece worn typically on the wrist. In addition to telling time, many watches are capable of connecting to Bluetooth and allow the user to interface to initiate and answer phone calls from their mobile phones, read emails and text messages, weather report, listen to music and others. Rising awareness among customer regarding the benefits of smartwatches and growing IOT application coupled with Integration of wireless technology is expected to propel the market for the wrist wearable market.This growth is primarily driven by Growth Prospects of Wearable Component Technology.
Globally, a noticeable market trend is evident Addition of Smart Elements in Traditional Watches
. Major Vendors, such as Apple, Inc. (United States), Alphabet, Inc. (United States), Fitbit, Inc. (United States), Sony Corporation (Japan), Garmin Ltd. (United States), Lenovo Group Ltd. (Hong Kong), Samsung Electronics Co, Ltd (South Korea), Qualcomm Technologies Inc. (United States), Nike Inc. (United States) and Huawei (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Recently, Apple (US) updated the Apple watch with watchOS5. The company introduced new activity and communication features which includes auto workout detection, Wi-Fi, and cellular connectivity with the launch of watchOS.
Market Drivers
- Growth Prospects of Wearable Component Technology
Market Trend
- Addition of Smart Elements in Traditional Watches
- Miniaturization of Electronic Devices
- Rise in Popularity of Smart Watches Among Younger Population
Restraints
- Rapidly Evolving Technology and Lack of Durability of Electronic Components
Opportunities
Growing Demand for Wearable as a Service and Potential Growth in Emerging Countries
Challenges
Designing Technologically Advanced Product
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wrist Wearable Devices Study Sheds Light on
The Wrist Wearable Devices Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Wrist Wearable Devices industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wrist Wearable Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.