Android Wear Products Expected to Drive Global Smartwatch Market in Coming Years
The report, “Smartwatches Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014-2020,” divides the smartwatch ecosystem into three price-based categories: low-end, mid-end, and high-end smartwatches. The mid-end market accounted for 44 percent of the global smartwatch market in 2013, according to the report. At that time, the devices were viewed mostly as companion devices to a smartphone, but as the perception has shifted, and the devices are seen more as fitness tracking devices, the demand for the product has shifted more to the high-end smartwatches, the report said.
In 2013, high-end devices accounted for just 17 percent of the global smartwatch market, but analysts expect that number will likely see the highest growth rate by the end of the forecast period.