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

0


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:

https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/us-smart-wearable-devices-market/142266-95.html

Related Report by Ken Research    

https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/india-watch-market-research-report/419-95.html

https://www.kenresearch.com/consumer-products-and-retail/luxury-goods/singapore-luxury-goods-market-research-report/477-95.html

Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

Share.

Comments are closed.