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Samsung, Nike and Garmin Most Successful Smartwatch Companies According to Smartwatch Group - With 3M smartwatches sold in 2013 compared to 0.3M in 2012, the smartwatch industry has multiplied tenfold in the last year. The ten leading smartwatch companies reached a market share of 82%. Software will outpace hardware as the key value driver
Samsung, Nike and Garmin Most Successful Smartwatch Companies According to Smartwatch Group

 

NewswireToday - /newswire/ - Zurich, Switzerland, 2014/02/21 - With 3M smartwatches sold in 2013 compared to 0.3M in 2012, the smartwatch industry has multiplied tenfold in the last year. The ten leading smartwatch companies reached a market share of 82%. Software will outpace hardware as the key value driver.

   
 
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Top 10 smartwatch companies highlight industry dynamics

The activity tracking, sports performance measurement, smartwatch and conventional watch markets are rapidly growing together. Members of all four markets are represented in the Top 10 smartwatch companies:

Company Headquarter Name of smartwatch* Units shipped 2013 Market volume 2013 (USD) Market share 2013
Samsung South Korea Galaxy Gear 800'000 240 million 33.8%
Nike US Fuelband (incl. SE) 400'000 60 million 8.4%
Garmin Switzerland Forerunner 220/620, D2, S4 200'000 60 million 8.4%
Fitbit US Fitbit Force 450'000 59 million 8.2%
Sony Japan SmartWatch 250'000 50 million 7.0%
Pebble US Pebble Watch 300'000 45 million 6.3%
Shanda China Geak Watch 100'000 30 million 4.2%
Mio Alpha Canada Heart Rate Sport Watch 100'000 20 million 2.8%
Yingqu China InWatch One 50'000 13 million 1.8%
Casio Japan G-Shock Bluetooth 50'000 10 million 1.4%
Other 30 companies 450'000 125 million 17.6%
Total 3'150'000 711 million 100%
* Definition of smartwatch: wrist-worn device with indication of time and wireless Internet connection.

Exploding number of smartwatch vendors in 2014

Based on profound insights into global R&D activities, Smartwatch Group (smartwatchgroup.com) expects the number of companies with smartwatch offerings to grow from 40 to 200 until the end of 2014. The market volume of the smartwatch industry will increase from USD 0.7 to 2.5 billion in 2014, while the average price per smartwatch will decrease from 225.- to 205.-. “Key reasons for growth in 2014 are advances in product design and significantly improved use cases”, says Pascal Koenig, Managing Director of Smartwatch Group.

Software outpaces hardware as value driver
Revenues of the smartwatch industry will remain to be predominantly hardware-based. However, the real driver of the smartwatch industry in 2014 is software. First app standards have evolved, and Google and Apple will significantly contribute to this trend with their own product offerings. Apps will enable use cases that significantly outmatch today’s activity monitoring and notifications.

“App developers and hardware providers form a virtuous circle: the more relevant smartwatch apps there are, the higher hardware sales, the better and more affordable hardware, which again attracts more app developers”, says Pascal Koenig. “With 30,000 software developers working on smartwatch apps, the critical mass has been reached now.”

 
 
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Written by / Agency / Source: Smartwatch Group

 
 

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Samsung, Nike and Garmin Most Successful Smartwatch Companies According to Smartwatch Group

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Publisher Contact: Pascal Koenig - SmartwatchGroup.com 
+41 44 586 84 44 info[.]smartwatchgroup.com
 
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