The US Smart Wearable Devices Market Outlook to 2021
By Type (Fitness Bands, Smart Watch, Smart Eyewear and Others), by Distribution Channel (Online, EBOs, MBOs, Others)
November 2017
91
About the Report
About the Report
The report titled "The US Smart Wearable Devices Market by Type (Fitness Bands, Smart Watch, Smart Eyewear and Others), by Distribution Channel (Online, EBOs, MBOs, Others) - Outlook to 2021" provides a comprehensive analysis of the US smart wearable health devices market. The report focuses on overall market size by revenue and volume sales, segmentation on the basis of type of device (fitness band, smartwatch, smart eyewear and others) and on the basis of distribution network (online, exclusive store, organized retail and others). Value chain analysis along with the factors to be considered before making the purchase decision provides some key input on the practices adopted in US smart wearable health devices market.
The report also covers detailed snapshot on major and emerging companies in the smart wearable health device market including growth drivers, issues and challenges, and market share. The report further includes market projections for future and analyst recommendations highlighting the major opportunities and cautions in the US market.
Market Size
By Revenue and Volume Sales: Market for smart wearable health devices has grown significantly in the last three years (2014-2016). The market on the basis of revenue generated from retail sales increased from USD ~ billion in 2014 to USD ~ billion in 2016. It registered ~% growth in 2015 and ~% in 2016. Increased cost due to sale of advanced products and higher priced Apple smart watch and more expensive smart eye wearables was the key reason for such a higher increase in terms of revenue generation. Volume sales during the same period increased from ~ million in 2014 to ~ million in 2016. Fitness bands were the most sold smart wearable health devices followed by smart watch and smart eyewear. Apple, Fitbit, Garmin, Samsung, Pebble, Motorola, Sony were some key players in the smart wearable market in the US.
Market Segmentation:
By Type of Device: Fitness bands were most popular smart wearable smart devices sold in the US market accounting for ~% of the total sales. An estimated ~ million fitness bands were sold in the US market. Fitbit leads the market in this segment with Garmin being the second largest player on the basis of volume sales. Smart watches (~%) were the second most demanded wearable device in the US market with an estimated sales volume of ~million in 2016. Smart eyewears and other products such as smart clothes, heart monitors, Elvie, blood monitors and other specific health parameter monitoring devices contributed ~% of the total demand. By Type of Distribution Network: Online retail accounted for majority of the smart devices sold in the US market. In 2016 an estimated ~% of the total sales executed in the US wearable market was through online portals such as Amazon and company websites. Crowd funding websites also made small contribution to the online sales. An estimated ~ million devices were sold on online platforms. Company outlets of Apple Samsung Sony Garmin and others contributed ~% of the total sales by volume and equal number were sold by organized retail stores such as Walmart, Target, Best Buy and others. ~% of the devices were sold through others channels such as independent retail stores, pharmacies, corporate sales and others.
Market Share of Major Players
Fitness Band: Fitbit was the leading player in the US fitness band market. It managed to sell an estimated (~%) of the total fitness band sold in the US in 2016. Promotional deals on Black Friday and Cyber Monday helped the company to increase its sale in terms of volume. Garmin was the second largest player. Its Vivofit fitness band, Vivo HR and HR+ are some key products. Other major players contributed ~% of the total sales by volume. These mainly included Jawbone, Samsung, Mi Band and other small players.
Smart Watch: Apple emerged as the leading player in smart watch segment accounting for more than half (~%) of the total smart watched sold. Samsung Gears were second most popular smart watches in the US accounting for ~% of the total sales in 2016. Samsung gear S2 and Gear fit 2 were the key product available in the US market during 2016. Traditional watch companies such as Tag Heuer, Fossil also made significant contribution in terms of revenue as their watches are priced at the premium. Minor contribution was made by Pebble, Motorola, Garmin and others. Together they accounted for ~% of the total sales.
Future Outlook
By Type of Product: Smart watches will gain popularity in the future and are expected to sell more than half (~%) of the total smart wearable devices to be sold in the US. Sales are expected to reach ~ million devices in 2021. Apple is expected to continue with its dominance due innovative technology, brand conscious consumers and slightly competitive pricing. Products are expected to become independent of smart phones as technological advancements are achieved. Demand for smart eyewear is expected to witness a very healthy growth as they are expected to become part of normal day to day life. Prescription based smart wear is expected to gain a much larger demand in future as doctors will find it useful to remotely monitor the vitals. Penetration of such devices is also expected to increase.
By Type of Distribution Channel: Online retail will continue to remain the dominant market place for sales and distribution of smart wearables accounting for more than half (~%) of the total sales. Many large retail chains are expected to establish and promote their online retail stores which will further give the boost to online retail demand in smart wearable sections. Company outlets are expected to grow in future even though the online presence is increasing mainly on account of user experience that one may get at these stores. Organized retail offers the best opportunity to get on hand experience about the product from new and emerging companies. It is expected that eyewear stores will be the largest beneficiary of the sale in the organized retail segment as prescription based smart glasses gain market.
Topics covered in the Report
- Introduction and Genesis to Smart Wearable Health Devices
- Value Chain Analysis
- Factors to be Considered Before Making a Purchase Decision
- US Smart Wearable Health Devices Trends and Developments, Growth drivers, Issues and Challenges
- Market by value and Volumes Sales
- Market segmentation by type of Devices, and Sales Distribution Network
- Market Share of Major Players in The Smart Watch and Fitness Band Segment
- Competitive Landscape of Major Players
- Future Outlook
- Analyst Recommendation
Products
Products
Smart Wearables, Smart Health Devices Market, Smart Watch, Fitness Band, Wearable Technology, Smart Eyeglasses, Smart Clothes
Companies
Polar, Fitbit, Apple, Samsung, Garmin, InteraXon, LVL Technologies, Vitali Wearables, Chiaro, MOOV, Vue, Carre Technologies, Motiv
Table of Contents
Table of Contents
1. Executive Summary
Country Overview
Genesis of Smart Wearable Health Devices
Value Chain Analysis
Market Size of Smart Wearable Devices
Smart Wearable Health Devices Market segmentation
Market Share of Major Players in Smart Wearable Devices
Trends and Developments
Growth Drivers Issues and Challenges
Future Outlook, 2021
2. Research Methodology
Market Definitions
Abbreviations
Market Size and Modeling
Consolidated Research Approach
Market Size: On the Basis of Sales Volume and Revenue
Limitations
Conclusion
3. Introduction and Genesis to Smart Wearable Health Devices Market in the US, 2016
4. Value Chain Analysis
5. Factors to be Considered Before Purchasing a Smart Wearable Health Devices, 2016
6. Trends and Developments in Smart Wearable Health Monitoring devices, 2016
6.1. Technological Amalgamation
6.2. Rise in Chronic Diseases
6.3. Increase in Number of Fitness Club and Gyms in USA
7. Growth Drivers, Issues and Challenges to US Smart Wearable Devices Market
7.1. Compatibility and Connectivity of Devices
7.2. Availability of Devices to Wear at Different Body Parts
7.3. Continuous Shift in Product Features and Technology
7.4. Demand From Commercial Sector
7.5. Collaboration Across Geographical Locations for Commercial Use
8. US Smart Wearable Health Devices Market Size, 2014-2016
9. US Smart Wearable Health Devices Market Segmentation, 2016
9.1. By Type of Devices (Fitness Bands, Smart Watch, Smart Eyewear, Others), 2016
9.2. By Type of Distribution Network (Online Sales, Exclusive Brand Store, Organized Retail, And Others), 2016
10. Market Share of Major Players in the US Smart Wearable Devices market
10.1. Market Share of Fitness Band Companies by Volume Sales, 2016
10.1. Market Share of Smart Watch Companies by Volume Sales, 2016
11. Company Profile of Major Players in Smart Wearable Health Monitoring devices, 2016
11.1. Polar
11.2. Garmin
11.3. Fitbit
11.4. Apple
11.5. Samsung
11.6. Company Profile of New and Emerging Companies
11.6.1. Interxon Inc
11.6.2. LVL Technologies
11.6.3. Vitali Wearables
11.6.4. Chiaro
11.6.5. Vue
11.6.6. MOOV
11.6.7. Carre Technologies
11.6.8. Motiv
12. Future Outlook to the US Smart Wearable Devices, 2021
12.1. By Type of Devices (Fitness Bands, Smart Watch, Smart Eyewear, Others), 2021
12.2. By Type of Distribution Network, 2021
13. Analyst Recommendation
14. Macroeconomic Variable Affecting the Sale Smart Wearable with Health Monitoring Features, 2011-2021
14.1. Number of Smart Phone Consumers, 2011-2021
14.2. Number of Internet Users in the US, 2011-2021
14.3. Out of Pocket investment in Personal Healthcare, 2011-2021
14.4. Medium to High Income Households, 2011-2021
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List of Figure
Figure 4-1: Value Chain in Smart Wearable Health Devices in the US, 2016
Figure 6-1: Number of Registered Fitness Clubs and Gyms in the US, 2016
Figure 8-1: US Smart Wearable Devices on the Basis of Revenue in USD Million, 2014-2016
Figure 8-2: US Smart Wearable Devices on the Basis of Volume in Million Units, 2014-2016
Figure 9-1: US Smart Wearable Devices Market Segmentation by type of Devices on the Basis of Volume in Million Units, 2016
Figure 9-2: US Smart Wearable Devices Market Segmentation by type of Distribution Network on the Basis of Volume in Million Units, 2016
Figure 10-1: Market Share of Major Players in the US Fitness Band Market on the Basis of Volume Sales in Percentage, 2016
Figure 10-2: Market Share of Major Players in the US Smart Watch Market on the Basis of Volume Sales in Million Units, 2016
Figure 11-1: Financial Performance of Garmin on the Basis of Revenue in the US Smart Wearable Devices Market in USD Million and Growth Rate, 2014-2016
Figure 11-2: Financial Performance of Fitbit on the Basis of Revenue in the US Smart Wearable Devices Market in USD Million and Growth Rate, 2014-2016
Figure 11-3: Financial Performance of Apple Based on Revenue Generated from Sale of Smart Watch and Other Devices, 2014-2016
Figure 12-1: Future Outlook to US Smart Wearable Devices Market Segmentation by type of Devices on the Basis of Volume in Million Units, 2021
Figure 12-2: Future Outlook US Smart Wearable Devices on the Basis of Revenue in USD Billion, 2017-2021
Figure 12-3: Future Outlook US Smart Wearable Devices on the Basis of Volume Sales in Million, 2017-2021
Figure 12-4: Future Outlook to US Smart Wearable Devices Market Segmentation by type of Distribution Network on the Basis of Volume in Million Units, 2021
Figure 14-1: Number of Smart Phone Consumers in the USA in Millions, 2011-2021
Figure 14-2: Number of Smart Phone Consumers in USA in Millions, 2011-2021
Figure 14-3: Out of Pocket Investment in Personal Healthcare in USD Billion in USA, 2011-2021
Figure 14-4: Number of Household in USA with Income Higher than USD 50,000 in Percentage and Rationale, 2011-2021
List of Table
Table 3-1: New and Emerging Smart Wearable Health Devices, 2016
Table 5-1: Factors to be considered Before Purchasing Smart Wearable Health Devices, 2017
Table 8-1: US Smart Wearable Health Devices on the Basis of Revenue in USD Million and Volume in Million Units and Rationale, 2014-2016
Table 9-1: US Smart Wearable Devices Market Segmentation by type of Devices (Fitness Bands, Smart Watch, Smart Eyewear and Other) on the Basis of Volume Sales in Million Units and Rationale, 2016
Table 9-2: US Smart Wearable Devices Market Segmentation by type of Distribution Network (Online Sales, Exclusive Brand Store, Organized Retail, and Others)on the Basis of Volume Sales in Million Units and Rationale, 2016
Table 10-1: Market Share of Major Players in the US Fitness Band Market on the Basis of Volume Sales in Million Units and Rationale, 2016
Table 10-2: Market Share of Major Players in the US Smart Watch Market on the Basis of Volume Sales in Million Units, 2016
Table 11-1: Competitive Landscape of Polar Including Company Overview, USP, Business Strategy, Production Details, Number of Employees, and Product Launch
Table 11-2: Product Portfolio of Polar Electro Including Product Name, Price and Description, 2017
Table 11-3: Product Comparison of Polar Electro Based on Key Parameters, 2016
Table 11-4: Competitive Landscape of Garmin Including Company Overview, USP, Business Strategy, Production Details, Number of Employees, Expenditure in R&D, Sales Network, Advertising Expenses and Gross Profit Margin
Table 11-5: Product Portfolio of Garmin Including Product Name, Price and Description, 2017
Table 11-6: Competitive Landscape of Fitbit Including Company Overview, USP, Business Strategy, Production Details, R&D Expenses, Sales Channel, and Acquisitions
Table 11-7: Product Portfolio of Fitbit Including Product Name, Price, and Description, 2016
Table 11-8: Competitive Landscape of Apple Including Company Overview, USP, Business Strategy, Number of Employees, Manufacturing Locations, Supply and Distribution, R&D, and Recent Developments
Table 11-9: Product Comparison of Apple Smartwatch, 2017
Table 11-10: Competitive Landscape of Samsung Including Company Overview, USP, Business Strategy, Research and Development, Revenue, Supply and Distribution, Recent Developments and Number of Employees
Table 11-11: Price of Key Samsung Smart Wearables Available in USA
Table 11-12: Company Profile of Interaxon Inc Including Company Overview, Product Marketing, Ongoing Projects, Products, Funding, Revenue and Target Market, and Future Plans
Table 11-13: Company Profile of LVL Technologies Including Company Overview, Product Marketing, Products and Funding
Table 11-14: Product Portfolio of LVL Technologies
Table 11-15: Company Profile of Vitali Wearables Technologies Including Company Overview, Product Marketing, Products, Funding, and Technology
Table 11-16: Company Profile of Chiaro Including Company Overview, Product Marketing, Products, Funding, Technology, Revenue, and Future Roadmap
Table 11-17: Company Profile of Vue Including Company Overview, Product Marketing, Funding and Technology
Table 11-18: Product Portfolio of Vue Technologies
Table 11-19: Company Profile of Moov Including Company Overview, Product Marketing, Funding, Revenue and New Product Launches
Table 11-20: Product Comparison of Moov
Table 11-21: Company Profile of Carre Technologies Including Company Overview, Product Marketing, Funding, Revenue, Products, Key Corporate Clients, Compatibility, USP and Applications
Table 11-22: Company Profile of Motiv Technologies Including Company Profile, Product Features, USP, Funding, and Revenue
Table 12-1: Future Outlook to US Smart Wearable Devices Market Segmentation by Type of Devices (Fitness Bands, Smart Watch, Smart Eyewear and Other) on the Basis of Volume in Million Units and Rationale, 2021
Table 12-2: Scenario Analysis for Sale of Smart Eyewear, 2021
Table 12-3: Future Outlook to US Smart Wearable Devices Market Segmentation by type of Distribution Network on the Basis of Volume in Million Units and Rationale, 2021
Table 13-1: Analyst Recommendation to Smart Wearable Health Devices Market Participants
Table 14-1: Number of Smart Phone Consumers in USA in Millions and Rationale, 2011-2021
Table 14-2: Number of Internet Users in USA in Millions and Rationale, 2011-2021
Table 14-3: Out of Pocket Investment in Personal Healthcare in USD Billion in USA and Rationale, 2011-2021
Table 14-4: Number of Household in USA with Income Higher than USD 50,000 in Percentage and Rationale, 2011-2021
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