Best Smartwatch Brands – Industry Analysis
The sale revenues of the best smartwatch brands are skyrocketing, and the global smartwatch market was estimated to be around $11 billion at the beginning of 2018. Additionally, the smartwatch industry is forecasted to grow at a CAGR of over 22% for the next five years to surpass a market value of almost $32 billion by the end of 2023. In 2017, there were more than 90 companies making smartwatches and the top smartwatch brands sold over 52 million smartwatches across the globe. Upcoming smartwatches 2018 behold an era of high technology innovation coupled with the introduction of next-gen smartwatches in the next few years. The largest market share was accounted for by iOS platform-based smartwatch brands with almost a 50% market share. The growth of the best smartwatch brands is further driven by rising consumer interest in smart devices and the growing adoption of IoT and connected devices around the world.
The dominant market for the best smartwatch brands in North America, with almost a 38% market share. However, the Asia Pacific region led by China is expected to emerge as the fastest growing market for top 10 smartwatch brands as there are many low-cost smartwatches being manufacturing by the country. Android is the second largest platform for the best smartwatch brands with a 23% market share worldwide. A significant part of the market for top smartwatch brands in terms of application is held by the personal assistance and wellness which hold a 50% and 20% market share respectively. Extension smartwatch category dominates the market based on product type with a market penetration of around 80% although standalone smartwatch segment is likely to expand rapidly in the next five years. If you are wondering which smartwatch to buy, here follows the best smartwatch brands list compiled after a scrupulous research to give you a holistic overview.
Top 10 Smartwatch Brands
Apple is the best smartwatch brands in the world and is compatible with all Apple mobile phones supported by the iOS 11 or a higher version platform. Apple launched the smartwatches in 2015 and has a product range that includes Apple Watch Series 3, Apple Watch Series 2, Apple Nike+ Series, and Apple Watch Series 1. Additionally, Apple also has a limited edition called Apple Watch Hermes which is manufactured of stainless steel. Apple sold nearly 25 million smartwatch watches in 2017 with an annual revenue of over $5 billion. Apple Watch is one of the top 10 smartwatch brands in the world and is likely to retain its dominant position over the next five years.
Samsung is ranked second on the top 10 smartwatch brands list and was launched in 2013. Samsung Gear Watch operated on an Android platform, although a new operating system called Tizen has been launched in 2017 to where existing users have also been upgraded. Samsung has a wide range of smartwatches that include Samsung Galaxy Gear, Samsung Gear 2, Samsung Gear Fit, Samsung Gear S and S2, Samsung Gear Sport, Samsung Gear S3, and Samsung Gear IconX. Samsung, one of the best smartwatch brands sold nearly 11 million watches in 2017 and had an annual revenue of near $2.4 billion.
Garmin is another top smartwatch brand from the US and the company launched its first smartwatch in 2003. Garmin manufactures the best smartwatch brands such Garmin Forerunner Series, Garmin Approach, Garmin Vivoactive, Garmin Vivomove HR, Garmin Foretrex, and Garmin Fenix. Garmin is a trusted name on the top smartwatch brands list and is a pioneer in GPS wearable technology with over 60 offices across the world employing over 11,000 professionals. Garmin had an annual revenue of around $3.1 billion in 2017 which encompasses its range of smartwatches, car accessories, GPS devices, and fitness wearables.
Motorola Mobility is the best smartwatch brand with a long battery life and was released into the market in 2014. If you are confused about which smartwatch to buy, you should consider that Motorola Mobility has three product variants which are Moto 360 1st generation, Moto 360 2nd generation, and Moto 360 Sport and they operate on Android wear platform designed by Google for the top smartwatch brands. There was more than 5 million Moto 360 range of smartwatches sold in 2017 at a price ranging from $180 to $240 depending on the model.
Pebble Technology Corporation is among the top 10 smartwatch brands in the world and was officially launched in 2013. Pebble, one of the best smartwatch brands was established with funding from a Kickstarter campaign that raised over $10 million. The smartwatch range sold by Pebble includes Pebble Time, Pebble Time Steel, Pebble Time Round, and Pebble 2. It is estimated that around 1.5 million Pebble smartwatches are sold annually, and the company has an annual revenue of more than $400 million to feature among the top smartwatch brands today. Pebble smartwatches are known to have a battery life of up to 2 days and run on Pebble OS 3.0.
6. Xiaomi Inc
Xiaomi Inc is the best smartwatch brand from China and launched its first smartwatch in 2016. Prior to that in 2014, Xiaomi had already released smart band in 2014. The top smartwatch brands made by Xiaomi are AmazFit Pace, AmazFit Bip, AmazFit Arc, AmazFit Health, AmazFit Cor, AmazFit Stratos, and AmazFit 2S. All the smartwatches manufactured by Xiaomi have an inbuilt heart rate monitor, Bluetooth connectivity, and run on the Android platform. Xiaomi is one of the trusted names on the smartwatch brands list and is estimated to have an annual revenue of $17 billion including the sales revenue of smartphones and smartwatches.
Fitbit was established in 2007 and used to make activity trackers which measure heart rate, quality of sleep, and other health-related metrics. In 2017, Fitbit forayed into manufacturing smartwatches. Fitbit, one of the top smartwatch brands is headquartered in San Francisco, US and had an annual revenue of $1.6 billion in 2017. The best smartwatch brands made by Fitbit are Fitbit Ionic and Fitbit Versa. Fitbit is one of the top 10 smartwatch brands employing over 4,000 professionals at 14 offices across the globe. Fitbit also has a fitness app which has over 2 million users who follow their health and fitness on it.
Huawei is another best smartwatch brand from China and was officially launched in 2015. The smartwatches made by Huawei combine the classic watch look with smart wearable technology. Huawei, one of the top smartwatch brands makes Huawei Watch is based on Android platform and powered by a Qualcomm Snapdragon processor. Huawei Watches are made of stainless steel and come with six kinds of straps: leather, steel link, steel mesh, black link bracelet, alligator skin leather, and golden rose link bracelet. Huawei had an annual revenue of almost $7 billion in 2017 from the sale of its smartwatches and smartphones across the globe.
Misfit is one of the top 10 smartwatch brands in the world and was established in 2011 in Burlingame, California, US. Misfit makes various types of wearable bands and smartwatches that use hi-quality sensors. The best smartwatch brands made by Misfit are Misfit Shine, Flash, Ray, Vapor, Command, Path, and Phase. The wearable devices made by Misfit are compatible with both Android and iOS mobile phones and make connected home devices. Misfit, one of the top smartwatch brands has an annual revenue of around $10 million and more 30 employees work for this best smartwatch brand.
Ticwatch is another best smartwatch brand made by Mobvoi, an AI company from China. Mobvoi was founded in 2012 and launched Ticwatch in 2015. Ticwatch is among the top smartwatch brands and is available in three variants, Ticwatch, Ticwatch 2 Global Edition, and Ticwatch S&E. Ticwatch operates on Tiicwear 3.0 OS and they have inbuilt GPS, heart rate monitor, and a splash-proof. Ticwatch generates an annual revenue of over $100 million for Mobvoi and has more than 400 professionals employed at the Beijing headquarters in China.
Future of Smartwatch Market
The global market for the best smartwatch brands are forecasted to grow rapidly over the next few years because of evolving technology and increased awareness among consumers about health and fitness. The top upcoming smartwatches 2018 are Apple 4, Samsung Gear S4, Google Angelfish, HTC Halfbeak, and Sony Smartwatch 4. The top smartwatch brands are focused on innovating the design, add more features, and make the smartwatches lightweight. Furthermore, the top 10 smartwatch brands are becoming very popular among the 15 to 35-year age group consumers as they prefer to maintain and track a personal fitness and health schedule. If you are wondering which smartwatch to buy, you can consult the detailed smartwatch brands list above and make a wise choice. Over the next five years, the best smartwatch brands are likely to launch a hybrid variety of smartwatches that will be a cross between a smartwatch and a class mechanical watch.