Increasing R&D is a key trend in the Global Smart watches Market: TechNavio Report
- Key buying criteria includes: price, performance, battery capacity, user-friendliness, screen size and internal memory
TechNavio, an independent London-based research firm has found increasing R&D is a key trend in the Global Smart watches Market. The findings are for the forecast period 2014-2018.
Increasing R&D spending on smart watches is a major trend that is affecting the global smart watches market. Leading vendors such as Pebble, Maritime, Samsung and Sony are increasing their investment in the R&D of smart watches and collaborating with suppliers and value-added re-sellers for introducing inexpensive solutions. Further, more focus on R&D is helping vendors introduce products with more accuracy and better integration ability, which is leading to an increase in the adoption of smart watches.
The rapid technological advancements and changing consumer preferences over the usage of electronic devices are some of the major factors contributing to the high demand for smart watches globally, with US generating more than 50 percent revenue of this market.
Speaking on this occasion, one of the senior analysts and co-author of this report said, “The Smart watches market in the Americas valued at US$0.9 billion in 2013 will be growing at a CAGR of 93.6 percent. The changing consumer tastes and preferences coupled with the presence of the leading vendors in the Americas, targeting the local population, will be the key reason for the growth of this market in US during the forecast period.”
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of drivers, challenges, and trends of this market featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in order of importance.
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TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Global Smartwatches Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.
Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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