Batteries For Smart Wearable Market Size , Share , Trends , Analysis and Forecasts To 2021
Market Research analysts forecast the global batteries market for smart wearables to grow at a CAGR of 28.91 % during the period 2017-2021 .
The following companies as the key players in the global batteries market for smart wearables : Enfucell , Guangzhou FULLRIVER Battery New Technology , LG Chem , Panasonic Industrial Devices & Solutions , and Samsung SDI .
Other Prominent Vendors in the market are : Accutronics , Batteries and Power Solutions , Blue Spark Technologies , BrightVolt , Cymbet , Front Edge Technology , IMPRINT ENERGY , Infineon Technologies , ProLogium Technology , and VARTA Microbattery .
Commenting on the report , an analyst from Technavio ’ s team said : “ One trend in market is increasing number of smart wearable products . Wearables are the next big thing among tech enthusiasts , which has led to the proliferation of smart wearables , from technology that is worn on the wrist to fabrics and textiles that are printed with the technology . The growing emphasis on health and fitness has driven the need for wearables , creating a highly attractive market . Major technology , fashion , and sports companies are developing a wide range of smart wearables focusing on health and fitness needs . Some companies have formed a strategic partnership to support and promote the development of wearable device technology . Such strategic partnerships can be traced back to the year 2006 when Nike , in partnership with Apple , developed the company ' s fitness tracker called the Nike +.
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According to the report , one driver in market is increased shipments of smart wearables . Smart wearables such as smartwatches , smart bands , and smart glasses , which were introduced initially in the market had failed to attract the attention of consumers because of their high price , unattractive design , and lack of appealing functionalities . Several products have been introduced by startups such as Pebble . However , with added functionalities pertaining to health and wellness , security and payments have led to the market , which are slowly gaining traction . Thus , there was an increased attractiveness of the market . The introduction of the Apple Watch renewed the interest in smartwatches among customers and changed the market dynamics . It quickly became the highest selling smart wearable product and made Apple the segment leader for smartwatches . To capitalize on the growing interest of technology enthusiasts , many wearable manufacturers rolled out new or updated versions of their products with huge improvements from their first-generation counterparts . They promised better performance and features to keep up the sales momentum of wearable devices .