A smartwatch is a computerised wristwatch with a functionality that is much more than simple, straight forward timekeeping. While early models can perform basic tasks, such as calculations, translations, and game-playing, modern smartwatches act like effectively wearable computers. Many run mobile apps, using a mobile operating system. Some smartwatches function as portable media players, offering playback of FM radio, audio, and video files to the user via a Bluetooth or USB headset. Some models, also called 'watch phones', feature full mobile phone capability, and can make or answer phone calls.
Many smartwatch models manufactured in the 21st century are completely functional as standalone products. Some serve as sport watches, with the GPS tracking unit used to record historical data. For instance, after a workout, data can be uploaded onto a computer or online to create a log of activities for analysis or sharing.
Post the extraordinary success of smartphones in India, companies are highly optimistic that India will emerge as a highly lucrative market for smart watches. While the adoption of smart watches is quire negligible at the moment, companies are looking at establishing a vibrant ecosystem in the country. Experts are of the view that India’s smartwatch market can be compared with smartphone revolution 4-5 years ago, but the boom is evident starting 2016, with Apple Watch, Titan JUXT and Samsung all preparing hard to get a greater share of the high potential Indian market.
At the domestic front, Titan partnered with HP to launch smartwatches in India in November 2015.
LG Watch Urbane
Moto 360 Sports
Pebble Time Steal
There are plenty of new models in the pipeline too, as a larger number of tech companies prepare to enter the smart watches segment. The Apple Watch 2 is expected to be launched sometime in 2016 and Nixon's The Mission and Michael Kors Access are also in the pipeline. With Samsung and Apple innovating and a strong field of Android Wear watches from big designers like Fossil, Nixon and Casio, Smart Watches Industry in India is bound to flourish in coming years.
The global market for wearable technology is witnessing an increase. Research firm IDC predicts that a total of 111.1 million units of devices will be shipped in 2016, up nearly 45 percent from last year. The IDC report suggests that number to double by 2019. Smartwatches, the most popular type of wearable, may be reaching a total of 32.3 million units shipped in 2016, up from the 21.3 million units expected to have been shipped in 2015. By 2019, the final year of the forecast, total shipments will reach 88.3 million units, resulting in a five-year CAGR of 42.8%, according to IDC.
It is interesting to note that Increasing Smartphone penetration, growing consumer demand and technological advancements in the wearable segment are expected to increase the growth of India Smartwatch Market.
Leading e-commerce firms such as FlipKart and Amazon are also leading to higher awareness and adoption of smart watches in India.