The Evolution of Smart Watch

ITS 499 Capstone Project, Spring 2016

Student: Ying Xie, Instructor: Dr.Shin-Ping Tucker

       Introduction:

Smartwatches have been the hype of the tech scene for several years.  What's more impressive is that many of today's best models can also perform a ton of novel tricks, such as enabling you to search the internet with your voice, tracking your exercise over GPS, and letting you check-out at the grocery store without reaching for your wallet. For some time, jumping into the world of smartwatches was a risky move. But now, with competent efforts put forward from Google with Android Wear, Apple with watchOS, and more, there's never been a better time to strap up with wearable technology.

     Past Status of the Smartwatch:

 The smartwatch will unsettle some at first. Even after the pocket watch proliferated during the 18th century, the wristwatch was still strange, an overly conspicuous technology.

Present status of the Smartwatch:

Out of the total smartwatch shipment in 2013, Samsung held a market leader position, followed by Nike and Garmin. The global market is witnessing a huge inflow in the number of companies and is expected to grow manifold from the existing number of 40 companies at present. As of now, the market is purely driven by the leading tech companies such as Samsung, Apple, Google, etc.; 

Futuree status of the Smartwatch:

Global smartwatch market is expected to garner $32.9 billion by 2020, registering a CAGR of 67.6% during the forecast period 2014 - 2020. The market for smartwatches is witnessing a double-digit growth rate globally. North America is a promising and a highest revenue generating geography for smartwatches. As per the estimates, North American region generated nearly 1/3rd of the market revenue in 2013, and it is further expected to grow at a significant rate. However, in the near future, the growth of this market is expected to be driven by the Asia-Pacific region with China emerging as a popular hub, being a low-cost Android based smartwatch manufacturer. Smartwatch market has a potential to reach $32.9 billion by 2020, registering a CAGR of 67.6% from 2014 to 2020.

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