Showing posts with label Wearable Tech Market Growth. Show all posts
Showing posts with label Wearable Tech Market Growth. Show all posts

Wednesday, November 1, 2017

US Smart Wearable Health Devices Market is expected to reach over USD 18 billion by 2021: Ken Research

US Smart Wearable Health Devices Market by Type (Smart Watch, Fitness band, Smart eyewear and other), and by Distribution Network (Online, Organized retail, Exclusive Brand Stores and Other) on the basis of volume sales. Market share of major companies by Smart Watch (Apple, Samsung and other) and Fitness band (Fitbit, Garmin, and others).
  • Smart Watch segment is expected to witness a strong demand in near future as they can perform all the functions of fitness band along with added features.
  • Smart eyeglasses have very huge potential as they are ideally located to monitor body vitals and are also close to eye, ears and mouth.
  • Chinese and Asian companies are expected to improve the market share in the US smart wearable health devices market.
Market for smart wearable health devices is expected to register a positive growth rate in future (2017-2021) but significant drop will be registered in YoY growth. It is expected that fitness band will be phased out from the consumer market and smart watches will be the best selling smart wearable accounting for very high market share by volume. Smart eyewear and smart clothes are the two main segments that may give stiff competition to the smart watch market but the product development in the field will play a very key role for demand creation in the future. Consumers will look for value for money and will only go for buy decision if they are satisfied with the value creation and usability. It is expected that smart wearables will gain a lot of demand from the enterprise segment for commercial use. Hospitals, Insurance companies and fitness centers are expected to become the key industry participants of the smart wearables. It is also expected that many other features can be embedded in the smart wearable health device that will have positive impact on the overall sales of these devices.
Online sales will gain market share as it gives the advantage of preorder booking for new products and products under developments phase. It also helps to reach a much larger audience at very reduced cost. Sales from exclusive stores are also expected to rise but drop will be registered in infomercial sales.
Analysts at Ken Research in their latest publication, “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” believe that continuous evolution of technology and better integration of devices with smart phones and other smart devices will help in creating a large consumer base.
Market will be driven by consumers who remain technologically active and upgrade their hardware at regular intervals. Entry of new products segments and new consumer segments will further augment the product demand in future. Companies like Apple and Fitbit will continue their dominance in the short run. Companies developing more user friendly devices and offering better after sale service in form of upgrades are expected to dominate the market.
The report provides information on the US smart wearable devices market size, market segmentation by type of devices and by type distribution network. It also cover market share of major players in smart watch and fitness band segment along with company profile of major and emerging players.
Topics covered in the Report
Competition Apple Smart Watch
Wearable Device Market Forecasts
Smart Watches Market by value
Wearable Tech Market Growth
Wearable Electronics Market Trends
Market Share Fitbit Fitness Band
Smart Watch Industry Analysis
Wearable Technology Market Size and Share
Wearables market overview
Wearable Technology Market in United States
For more information on the market research report please refer to the below link:
Related Reports
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204

US Smart Wearable Devices Market Research Report to 2021: Ken Research

How The US Smart Wearable Health Device Market Is Positioned?
Wearable fitness devices had been in market since the early 1980’s however their uses were restricted to professionals as they are costly and less consumer friendly. With the miniaturization of equipments and development of software technology along with wireless connectivity has made the wearable health devices more consumers friendly and are easier to read and understand. Vyzin Electronics Private Limited was the first company which unveiled their first medical alert smart watch for health with cellular, GPS and medicine reminder and SOS for help during emergency. Apple after the launch of its first smart watch in 2014 has emerged as the leader in the US smart watch market at the end of 2016. Market for smart wearable health devices has increased 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. 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. Apple, Fitbit, Garmin, Samsung, Pebble, Motorola, Sony were some key players in the smart wearable market in the US. Market will be driven by consumers who remain technologically active and upgrade their hardware at regular intervals. Entry of new products segments and new consumer segments will further augment the product demand in future. Companies like Apple and Fitbit will continue their dominance in the short run. Companies developing more user friendly devices and offering better after sale service in form of upgrades are expected to dominate.
Value Chain Analysis
Parent companies branding and marketing the product are at the top of the value chain. They do the research and development, designing and other high end jobs. Manufacturing is outsourced to contract manufacturers who manufacture the product on behalf of parent company which is then either shipped directly to the retailer or to the ware house of the company. Retailers may include large retail stores, online retail stores, or others. In corporate sales and sales through company website the product is directly delivered to the consumers. Margin is maximum for the manufacturer if the cost of R&D and other marketing and advertising activities are neglected. It ranges between ~%-~% base on manufacturing cost and MSRP. At the retail level the profit margin is dependent on the demand of the products and is generally high for newly launched products. Margin declines for old products during festive seasons when the prices are reduced (It also helps in stock clearance and reduce the overall losses arising from unsold inventory) for smart wearables. Profit margin ranges between ~-~% for offline retailers and ~%-~% for online retailers. In case of corporate sales margin is lower than ~%.
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. Apple watch introduced series 2 in September 2016 and accounted for majority of the sale in the last quarter of 2016. Samsung Gear were second most popular smart watches in the US accounting for ~% of the total sales in 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.
Trends and Developments
Technological amalgamation has limited the distinction among the devices. More and more features are integrated into smart watches which makes it easier to replace the fitness trackers. Similarly, it is expected that smart eyewear may erode the share of smartwatch in future. Chronic diseases and conditions are among the most common, costly, and preventable of all health problems and are on rise in the US. Health consciousness is on rise in the US with many reports suggesting rise in obesity and other lifestyle related diseases. More than 1 in 3 adults in the US (about 92.1 million) have at least one type of cardiovascular disease. Over the years the number of registered fitness clubs and gyms increased from 29,960 in 2011 to 36,540 in 2016.
Growth Drivers and Challenges
Compatibility and connectivity with other devices play a very significant growth driver for products in the smart wearable segment. Over the period the smart wearable devices have moved from smart fitness band to headbands, smart eyewears, wearable clothes, smart footwear and others. Companies are now focusing on developing a hardware that can allow better software upgrade and have longer life. It is expected that smart watch and smart eyewear will gain more market in commercial application as the device gets compact and improved battery life.
Future Outlook to Smart Wearable Health Devices
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.
Companies Cited in the Report
List of Companies                       Companies Covered in the Report
Apple
Garmin
Fitbit 
Samsung                                       Major Players
Polar
Vue
Chiaro
Interxon
MOOV
Motiv
Carre technologies
Key Factors Considered in the Report
Comprehensive analysis of the US Smart Wearable Health Market and its segments
Competition Apple Smart Watch
Wearable Device Market Forecasts
Smart Watches Market by value
Wearable Tech Market Growth
Listed major players and their positioning in the market
Wearable Electronics Market Trends
Identified major industry developments in last few years and assessed the future growth of the industry
Market Share Fitbit Fitness Band
Smart Watch Industry Analysis
Wearable Technology Market Size and Share
Wearables market overview
Wearable Technology Market in United States
For more information on the market research report please refer to the below link:
Related Report by Ken Research    
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204

Tuesday, October 31, 2017

The US Smart Wearable Devices Market Outlook to 2021: Ken Research

The 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
For more information on the market research report please refer to the below link:
Related Report by Ken Research    
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204