LONDON--(BUSINESS WIRE)--The global batteries market for smart wearables 2018-2022 is expected to register a CAGR of close to 28% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the raising capital for product development via crowdfunding campaigns. Crowdfunding has become a driver in the smart wearables industry for raising capital for the development of new products. The campaigns run by smart wearables manufacturers on these platforms provide awareness among the target audience of the product and lead to the lower cost-per-acquisition of customers compared with other channels. Therefore, it is a preferred channel for multiple players.
This market research report by Technavio on the global batteries market for smart wearables 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing product category options in the smart wearables category as one of the key emerging trends in the global batteries market for smart wearables:
Global batteries market for smart wearables: Increasing product category options in the smart wearables category
The availability of products in the smart wearables category has expanded to a whole new dimension. Gizmos ranging from wrist wearables to apparels and gears have been launched in the past few years, making these the top items in the wishlist of tech enthusiasts. The growing emphasis on health has driven the demand for smart wearables.
“Multiple new gadgets are available in the market, which has transformed the perception of these devices to the customers. Smart wearables manufacturers are developing new products focused on the fitness, wellness, and entertainment needs to the customers. Several manufacturers have made strategic partnerships to promote their products,” says a senior analyst at Technavio for research on energy storage.
Global batteries market for smart wearables: Segmentation analysis
This market research report segments the global batteries market for smart wearables into the following products (Li-ion battery and Li-Po battery) and key regions (the Americas, APAC, and EMEA).
The Li-ion battery segment held the largest market share in 2017, accounting for nearly 55% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas held the highest share of the global batteries market for smart wearables in 2017, accounting for a market share of approximately 60%. The market share occupied by this region is anticipated to decrease by nearly 10% during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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