Global Wearable Apps Market 2016-2020

Overview of the global wearable apps market

Technavio’s market research analyst predicts the global wearable apps market to grow impressively throughout the forecast period, posting a CAGR of almost 57%.  The global wearable apps market is gaining high momentum owing to several technological advancements such as the integration of features like online transaction, fitness monitoring, and music streaming into wearable devices. The growth of the wearable apps market is directly proportional to the growth of wearable devices. Moreover, the high adoption of smartwatches and fitness apps across the world is one of the major factors prompting the growth of the wearable apps market. Many women are also using wearable apps to monitor and track pregnancy and menstrual cycle. Several manufacturers in the market are also designing features and functionalities for the smartwatches for children, which will further contribute to the growth of the wearable apps market in the coming years.

In 2015, the global wearable apps market was dominated by the Americas, which occupied the maxim share of the market revenue. The presence of numerous wearable app providers in the region has led increasing awareness about wearable devices among the population. The US is the major revenue contributing country in the region. The high popularity of wrist wearables is one of the major drivers for the growth of the Americas in the wearable apps market globally. The region is home to some of the major wrist wearable manufacturing brands such as Fitbit and Apple.

Competitive landscape and key vendors

The global wearable apps market is highly competitive due to the presence of many large players. These vendors contend in terms of features, user-friendly interface, pricing, payment options, policies, and libraries. To sustain in the competitive market, the vendors are making investments in planning, designing, developing, manufacturing, acquiring new players, and expanding existing facilities. They are coming up with new ideas and technologies and keep themselves updated with the emerging technologies to maintain their brand recognition.

Leading vendors in the market are -

• Apple
• Fitbit
• Google
• Samsung Electronics
• Appster
• DMI
• Fuzz Productions
• Intellectsoft
• Intersog
• LeewayHertz
• PointClear Solutions
• Redmadrobot
• Sourcebits
• Touch Instinct
• Worry Free Labs

Segmentation by device and analysis of the wearable apps market

• Smart watches
• Fitness bands
• Smart glasses

The smart glass segment is likely to experience significant growth in terms of revenue and downloads during the forecast period. Smart glasses or smart eyewear are gaining popularity among users in the healthcare and industrial sectors as they help to improve operational efficiency and the overall productivity of industries. With the help of smart glasses such as Google Glass, doctors can retrieve critical information about the patient such as medical history and allergies. The launch of several smart glasses like Solos, Vuzik M300, Epson Moverio BT-300, and Sony SmartEyeGlass, will propel app developers to tap this market segment’s potential during the forecast period.

Segmentation by category and analysis of the wearable apps market

• Fitness apps
• Industrial apps
• Online transaction apps
• Customization apps
• Healthcare apps

The fitness app segment dominated the market in 2015, and its share is likely to increase during the forecast period because of the growing number of health and fitness conscious individuals. Fitness apps use built-in sensors in wearable devices to monitor heart rate, distance walked, and the calories lost during a workout. The increased adoption of fitness bands and smartwatches worldwide is one of the major factors contributing to the growing number of downloads of fitness apps.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global wearable apps market?
• What are the key market trends impacting the growth of the global wearable apps market?
• What are the challenges to market growth?
• Who are the key vendors in the global wearable apps market?
• What are the market opportunities and threats faced by the vendors in the global wearable apps market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global wearable apps market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Wearable Payment Market 2016-2020
• Global Smart Wearable Healthcare Devices and Services Market 2016-2020