An overview of the International Smart watch Industry
Experts proclaim that the smartwatch market size totals a value of $9,264 in year 2017, and is probable to extentto $31,070.6 million by 2025, thus cataloginga CAGR of 16.2% from 2018 to 2025. North American region had the maximumrevenue share in the financial year 2017, and is expected to escalate at a CAGR of 15% in the projection period.
Smartwatches are a well-developed digital portable device that is used to track many activities like number of calories burnt, heartbeat and other health measurements. It is much similar to the smartphones as it embraces same features like touch screen and much more.
The trend of smartwatch has emerged from the excessive use of smartphones (which are linked to smartwatches) and fast internet connectivity.
The separate section accounts for the premier market share in the international smartwatch market due to features like wireless set-ups, sim card recognition, and access to the internet. Growthin demand for wireless fitness and sports devices, upsurge in health mindfulness among the customer, and arrival of great number of performers, determine the development of the smartwatch market.
The main players the international smartwatch market are Apple Inc., Google Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, and Huawei Technologies Co. Ltd. They have successfully implementedstratagemslike product rangedevelopment, unions& acquisitions, contracts, terrestrialdevelopment, and associations to boost their market penetration.
Apple in the Smartwatch Industry
Apple Watch is distinguished for leading the smartwatch industry, and is recognized as the best digital watch ever manufactured. An analysis of the firsttwo quartersof Apple Inc. sales reveal that it has been successful in matching 5.7 million Apple watch global demand.
After the shipment of 5.7 million Apple watches worldwide currently, it has been observed that a 50% increase has been noticed in Apple sales compared to 2018. Following this, Apple’s marketshare in the smartwatch industry has now escalated up to 46%, which was previously 44% during the second quarter in the preceding year.
Neil Mawston, the Executive Director at Strategy Analytics, proclaimed that Apple Inc. has transportedalmost 5.7 million smartwatches internationally in the second quarter of 2019, thus improving an above-average 50% from 3.8 million in same quarter of year 2018. So, the Apple’s revolutionarysmartwatch rests a long way forward of the racing pack and its worldwide smartwatch marketshare has rocketedan increase of 2% when compared to the previous year. Apple Watch has fended off solidrivalry from hungry competitors like Fitbit and the company stands solely the smartwatch market frontrunner.”
Facts reveal that Apple Inc. has an implausible lead over its challengers in the smartwatch business. Samsung is observed to be at the second position, who has been able to transport almost 2 million smart watches during the second quarter of year 2019. Then comes the Fitbit whose international sales mark to about 1.2 million. So, according to the strategy analysis, smartwatch global consignments estimate up to 12.3 million.
According to a recent earning report published by Fitbit of its second quarter, the company has experienced a drop down in sales due to its strong Apple Watch opponent. In view of this, the Fitbit Companyhas loweredits regulation of third quarter of year 2019. And now, Fitbit strategy analysts anticipate a revenue of almost $335 – $355 million for a quarter. This signifiesa decline of between 10 to 15 percent when compared to year 2018.
Apple Inc. does not have a policy of reporting the unit sales of any of its devices or products. Similarly, the actual number of sales of Apple Watch is also not known.
During Apple Inc.’squarter 3 of the financial year 2019, conversely, Apple stated that its Wearables, Home, and Accessories category of products generated $5.53 billion income. Though that also take account of small Apple products like Air Pods, Beats, and Home Pod, it is up above 50 % and is becoming a progressivelyimperative business for Apple Inc.
Strategy Analytics: International Smartwatch Consignments Escalate to 12 Million Units second quarter of financial year of 2019
As per the newestresearch from Strategy Analytics, international smartwatch yearly consignments have increased to up to 44%, calculating to almost 12 million units in the second quarter of financial year 2019.
Steven Waltzer, the Senior Analyst of Strategy Analytics, stated that the International smartwatch deliveries has upsurge to 44 percent yearly. The consignments ofthe second quarter of the financial year 2018calculated to 8.6 million units and escalatedto 12.3 million in second quarter of year 2019. Smartwatch advancementremains to ascend, as customersprogressivelyembellish their smartphones with fitness-led wearables.
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