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Technology is seeping in all fields and it is also making a mark in the fashion industry. Watch is considered one of the common fashion accessories that both men and women use. These days, however, wrist wearable products are the rage. These are watches that come with smart features like making calls, setting remainders and alarms and acting as a fitness tracker. These watches sync directly with other smart gadgets that the person ones and keeps them on top of their schedules.
The increase in disposable income in the current generation coupled with the interest shown in smart gadgets has created appositive growth in the global wrist wearable market. Brands are investing a lot of money and time in enhancing these products with better and updated features and this is also another reason why the market will grow better. The high cost of these products can be a restraining factor for the growth though.
This report talks in detail about the global wrist wearable market and its potential for growth in the forecasted periods between 2019 and 2025. Different factors that affect the growth of the market including CAGR, sales generated, revenue and market share are all discussed in detail by the report. The report also deals with key players in the market, their growth rate and their expansion and growth strategies for the future. The study is vital for all stakeholders to make decisions about market entry or exit.
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The report on global wrist wearable market has profiled some distinguished vendors as well as promising new market entrants.
Smart watches and fitness bands are two basic types of wrist wearable products that people look out for at present. The individual growth rates of both these types are mentioned in the report. The report also talks about which type will pose the highest demand for and if the supply or production will match the demand in the market. There are two applications or areas through which these products are sold. This report identifies different online and offline selling channels and determines which channel will be majorly used by customers for buying these products.
Regions like North America, China, India, Europe, Japan, and Southeast Asia are a part of this study. North America, especially the United States will be an important region that will hold high market value owing to its technological advancements. The interest shown towards smart technology in developing countries like China and India will also make them significant players in the years to come. The report identifies micro markets in these regions and also talks about their potential growth. Market drivers like opportunities and restraints for the growth of the wrist wearable industry in each of these regions are investigated.
When Xiaomi Mi Band 4 was unveiled in China in early 2019, it came with the NFC feature. The feature was not available in this model in other countries though. With the launch of Mi Band 5 very soon, it is rumored that NFC will be available in all bands globally.