Global smart wearable entertainment devices and services market overview
Technavio’s market research analyst predicts the global smart wearable entertainment devices and services market to grow at an impressive CAGR of more than 22% by 2020. Wearable devices allow consumers to play virtual reality games, watch augmented reality videos, and listen to music. People can also use these devices for measuring the distance traveled, calorie intake, and heart rate. These devices also help in the prevention and control of many health-related issues such as obesity, heart disorders, and respiratory diseases.
The popularity of entertainment and gaming devices that provide a real-time virtual experience has increased over the years. These devices enable virtual 3D movies and HD gaming experience. The adoption rate of these devices is high among the millennials within the age group of 18-24 years. Devices such as Oculus Rift, iTV Goggles, and Sony's head-mounted display use virtual reality technology to provide real-time music, video streaming, and video gaming experience to users.
The smart wearables market is witnessing the adoption of gesture recognition technology in the wearable devices. This technique offers an effective man-to-machine interface that helps interpret human gestures. The technology provides improved virtual gaming and audio and video streaming experiences to the users. The application of gesture recognition aids the use of these entertainment processes without manual operations. Devices such as Ring and Myo function on gesture recognition technology provide real-time gaming and entertainment experiences to the users.
Competitive landscape and key vendors
The global smart wearable entertainment devices and services market is highly fragmented because of the presence of many small and large players. The market includes device manufacturers, application providers, telecommunication operators, platform providers, and content providers. Vendors are also using advanced marketing strategies to sell their products. The smart wearables market is dominated by leading vendors who have a stronghold in the industry. The increased adoption of wearable devices has propelled the entry of several telecommunication operators in the market. Smart wearable companies are engaging in M&As because of the high growth potential of the market.
Leading vendors in the market are -
- Apple
- Garmin
- Google
- Samsung
- Sony
- AT&T
- EE
- Sprint
- Telefónica
Other prominent vendors in the smart wearable market include 4D Force, Atheer Labs, Brilliant Services, Carl Zeiss, Emotiv Systems, Fat Shark, Fin Robotics, Gameband Minecraft, Glassup, Infiniteye, Intelligent Headset, Iron Will Innovations Canada, Logbar, Neptune, Oculus (Facebook), Skully Helmets, and Xbox.
Segmentation by products and analysis of the smart wearable entertainment devices and services market
- Smartwatches
- Smart glasses
- Wearable gaming devices
- Wearable devices used in concerts
During 2015, the smartwatches segment dominated the smart wearable entertainment devices and services market and accounted for more than 38% of the total market share. Consumers are increasingly using smartwatches to track and monitor their daily activities and fitness levels. These devices also provide calling features and messaging and email services. Smartwatches offer context-aware music to users, who can also access their social networking accounts such as Facebook and LinkedIn through these wearables. Samsung, Sony, Apple, Nike, and Google are the key providers of smartwatches.
Geographical segmentation and analysis of the smart wearable entertainment devices and services market
- APAC and ROW
- North America
- Western Europe
North America is the largest region in the smart wearable entertainment devices and services market and accounted for around 66% of the total market revenue in 2015. The smart wearable entertainment services market in North America will grow rapidly during the forecast period with the presence of key revenue contributors of this region which include US, Canada, and Mexico. The largest contributor to the market in this region is the US because of the early adoption of entertainment devices among adults and youth. The decline in the average selling price (ASP) of wearable devices has increased their affordability, which will boost the growth of the market during the forecast period.
Key questions answered in the report include
- What will the smart wearables market size and growth rate be in 2020?
- What are the key factors driving the global smart wearable entertainment devices and services market?
- What are the key market trends impacting the growth of the global smart wearable entertainment devices and services market?
- What are the challenges to the smart wearables market growth?
- Who are the key vendors in the global smart wearable entertainment devices and services market?
- What are the market opportunities and threats faced by the vendors in the global smart wearable entertainment devices and services market?
- Trending factors influencing the smart wearables market shares of APAC and ROW, North America, and Western Europe.
- What are the key outcomes of the five forces analysis of the global smart wearable entertainment devices and services market?
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