Global Smart Band Market 2016-2020
Market outlook of the smart band market
Technavio’s research analyst predicts the global smart band market to grow steadily at a CAGR of around 8% during the forecast period. The high demand for wearable lifestyle devices is the key growth driver for this market. Consumers use smartwatches, smart bands, and wearable rings to monitor daily fitness and health activities, listen to music, check virtual/3D videos, play virtual games, and access social networking websites such as Facebook, LinkedIn, and Twitter. The popularity of these devices is highest among the younger population, especially in the US.
The strategic partnership among supply chain members is an emerging trend in the smart band market. In recent years, smart band manufacturers have increased their relationships with industry players worldwide. For instance, during 2015, HTC partnered with Under Armour to develop the Grip smart band.
Geographical segmentation and analysis of the smart band market
Technavio Announces the Publication of its Research Report – Global Smart Band Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Smart Band Market: Fitbit, Garmin, Jawbone, Samsung Electronics and Xiaomi
Other Prominent Vendors in the market are: Lenovo, LG, Nike, Razer, and Sony.
Commenting on the report, an analyst from Technavio’s team said: “The smart band market is in the nascent stage, but exhibits high growth potential. As smart bands function on different advanced technologies, the market has a huge scope for innovation. Many small and large vendors provide devices equipped with latest technologies at competitive prices.”
According to the report, consumers use smartwatches, smart bands, and wearable rings to monitor daily fitness and health activities, listen to music, check virtual/3D videos, play virtual games, and access social networking websites such as Facebook, LinkedIn, and Twitter. In the US, the popularity of these devices is the highest among younger population.
Further, the report states that one of the major reason for the low adoption of wearable electronics such as smartwatches and smart bands is design constraints.
Fitbit, Garmin, Jawbone, Samsung Electronics, Xiaomi, Lenovo, LG, Nike, Razer, Sony.
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