Need advice? Keen to get the best deal? Call now on +44 (0)1494
This market research report analyzes the leading vendors in the global smart wearable lifestyle devices and services market such as Adidas, Apple, Fitbit, Garmin, Google, Jawbone, Nike, Samsung, and Sony, AT&T, EE, Sprint, and Telefónica. A comprehensive study of the market is also presented by category (luxury goods and general goods), by products (fitness and lifestyle devices, smart watches, and smart glasses), and by geography (APAC and ROW, North America, and Western Europe).
Overview of the smart wearable lifestyle devices and services market
Extensive research carried out by the analysts at Technavio has shown that the global smart wearable lifestyle devices market will witness tremendous growth and will post a CAGR of close to 16% over the forecast period. A steadily rising aging population and increasing incidences of chronic diseases are some of the major concerns in today’s world. This has led the people to become aware and concerned about their health. The growing health consciousness among people is reflected in the augmented demand for hygienic goods, gym memberships, diet programs, and in the use of mobile health applications. Moreover, obesity, a major lifestyle disease, has become prevalent in several countries and is associated with some significant risks including diabetes, , and breathing difficulties. This has led to an increase in the need for healthy lifestyle and fitness bands that help in tracking fitness level of an individual.
A significant decline in the average selling price in developed countries has led to an increase in the adoption rate of these devices. The sharp fall in the cost of has increased the adoption rate of these devices both in developed and developing countries. Initially, the adoption of these devices was confined to developed countries because of their high costs. However, with the subsequent decline in cost, several vendors have shifted their focus to developing countries to increase their revenue and market base.
Competitive landscape and key vendors
The global smart wearable lifestyle devices and services market is highly fragmented owing to the presence of numerous well-established global and regional vendors. The market also comprises device manufacturers, application providers, telecommunication operators, platform providers, and content providers. With the increase in adoption of in North America and Western Europe, several telecom operators such as AT&T, EE, Telefónica, and Sprint are entering this market. M&A will increase in the coming years because of the high potential of the market. The strong growth potential has also attracted several large players such as Sony Mobile, LG, and Samsung to invest in this market.
Other prominent vendors in the market include Agent , Atheer Labs, Atlas Wearables, Beartek, Bia Sport, Bragi, Brilliant Services, BSX Insight, Buhel, Carre Technologies, Casio, Emotiv Systems, Epson America, Force Impact Technologies, Glassup, Goqii, Healbe, Intelligent Headset, Kapture Kapture, Keryos, KMS, Lechal, Logbar, Microsoft, Mio, Movable, Neptune, Netatmo, Optinvent, Orpyx Medical Technologies, Owlet, Pixie Scientific, Razer, Rslsteeper, Sensible Baby, Seraphim Sense, Skully Helmets, Somaxis, Sproutling, Sqord, Sunfriend, Suunto, TWare, Tarsier, Vuzix, and Wellograph.
Product segmentation and analysis of the smart wearable lifestyle devices and services market
· Fitness and lifestyle devices
· Smart glasses
The fitness and lifestyle devices segment dominated the market and accounted for close to 45% of the total market in terms of revenue. The demand for has increased significantly in both developed and developing countries as they are readily available and help monitor several health concerns diligently. The inclusion of these devices in the fitness regime helps users monitor their day-to-day fitness activities and performance. Moreover, the decline in the ASP of such devices is also a major factor propelling this segment’s growth in the coming years.
Geographical segmentation and analysis of the smart wearable lifestyle devices and services market
· APAC and ROW
· North America
· Western Europe
In terms of geography, the global smart wearable lifestyle devices and services market will be led by North America and is predicted to reach more than USD 2 billion by 2020. The market is driven by the early adoption of wearable devices in this region. The largest contributor to the market in this region is the US because of the early adoption of lifestyle devices among adults and youth and the declining cost of wearable devices.
Key questions answered in the report include
· What will the market size and the growth rate be in 2020?
· What are the key factors driving the global smart wearable lifestyle devices and services market?
· What are the key market trends impacting the growth of the global smart wearable lifestyle devices and services market?
· What are the challenges to market growth?
· Who are the key vendors in the global smart wearable lifestyle devices and services market?
· What are the market opportunities and threats faced by the vendors in the global smart wearable lifestyle devices and services market?
· What are the trending factors influencing the market shares of APAC and ROW, North America, and Western Europe?
· What are the key outcomes of the five forces analysis of the global smart wearable lifestyle devices and services market?