Apple Inc., Xiaomi and SAMSUNG are Dominating the Global Wearable Electronic Devices Market in 2019

Global Wearable Electronic Devices Market is expected to grow with the CAGR of 24.8% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

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Global wearable electronic devices market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.    

The major players dealing in global wearable electronic devices market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement into the market. This helped companies to maximize the sales with enhanced product portfolio. For instance, in June 2019, Apple Inc. launched watchOS6 with different faces and access to various apps such as voice memos, audiobooks and calculator. The watchOS 6 is inbuilt with advanced cycle tracking, noise app and activity trends which are going to add more revenue and profit for the company.

Apple Inc. is the dominating player in global wearable electronic devices market. The other key players existing in the market includes PUMA SE, Seiko Epson Corporation, Fitbit, Inc., LG Electronics., SAMSUNG, Sony Corporation, Xiaomi, Garmin Ltd., FOSSIL GROUP, INC., Huawei Technologies Co., Ltd., Polar Electro, Vuzix Corporation, Kopin Corporation, ASUSTeK Computer Inc., FASTRACK LTD., HTC Corporation., HK SMARTMV LIMITED., Montrichard (H.K.) Ltd and UMIDIGI among others.

Apple Inc.:

Apple Inc. headquartered in California U.S. was established in 1977. The company focuses on innovation related to its product and services which includes designing and manufacturing of wearables, smartphones, tablets, personal computers and accessories. The company deals in various business segments such as iPhone, Mac, iPad, wearables, home and accessories, services among which the market focused segments are wearables, home and accessories. The company is providing products under categories such as iPhone, Mac, iPad, watch, TV and music among which the market focused products lie under watch and music categories. The company is engaged in continuous development of wearable electronic devices.   

For instance,

• In September 2017, Apple Inc. launched Apple Watch Series 3 incorporated with health and fitness tracking applications. This product launch by Apple Inc. increased its product portfolio leading to increased demand and sale in the market.

The company has wide presence across North America, South America, Europe, Middle East and Africa, and Asia-Pacific. The company has various subsidiaries such as Apple Canada Inc. (Canada), Apple Distribution International (Ireland), Apple Operations (Ireland), Apple Pty Limited (Australia) and Braeburn Capital, Inc. (U.S.) among others.

Xiaomi:

Xiaomi headquartered in Beijing, China was founded in 2010. The company focuses on internet connectivity with smart hardware’s and smartphones connected through IoT platform and continuously evolves with new innovation and trends in the market. The company has multiple business segments such as smartphones, IoT and lifestyle products, internet services, and others among which IoT and lifestyle products are the market focused segments. The company is providing products under various categories such as Mi phones, pocophone, redmi phones, Mi TV, smart devices, and all products among which the market focused products lie under smart devices category. The company is engaged in continuous development of wearable electronic devices.   

For instance,

• In January 2020, Xiaomi launched Amazfit T-Rex which is a smartwatch that supports 14 sports modes and 24 hours of heart rate monitoring. The product is designed as per military style and through the launch of this product, the company has extended its product portfolio along with brand image that is going to add more customers towards it.

The company has wide presence across India, Europe, Southeast Asia and Latin America. The company also has various subsidiary companies such as Xiaomi H.K. Limited (Hong Kong), Fast Pace Limited (U.K.), Xiaomi Ventures Limited (U.K.), Xiaomi Singapore Pte. Ltd. (Singapore), Xiaomi Finance Inc. (U.K.), Guangzhou Xiaomi Information Service Co., Ltd. (China) among others.

SAMSUNG:

SAMSUNG headquartered in Seoul, South Korea was founded in 1969. The company focuses on creating a new future for living a rich life by manufacturing and marketing of products in in consumer electronics, IT & mobile communication and device solutions. The company has multiple business segments such as CE, IM, semiconductor, DP, harman and other among which IM is the market focused segment. The company is providing products under various categories such as mobile, TV & AV, appliances, IT, shop, explore, and support among which the market focused products lie under mobile category. The company is engaged in continuous development of wearable electronic devices.    

For instance,

• In August 2019, SAMSUNG launched its new product named Galaxy watch Active 2 under Armour edition in collaboration with Under Armour Inc. in built with fitness tracking while running. This new product launched by SAMSUNG will generate more income along with profit maximization.

The company has wide presence across the North America, South America, Middle East and Africa, Europe and South East Asia and CIS. The company has various subsidiary companies such as Harman International Korea (South Korea), Red Bend Software Korea (South Korea), Samsung Electronics Canada (Canada), Samsung Mexicana (Mexico) and Samsung Electronica Colombia (Columbia) among more.