Even with all of the competition within this market space, there are already some leaders.
While the industry for smartwatches remains in its industry, with as these wearable technology devices remain quite rudimentary – despite their considerable technical advancements – and limited, the speed with which it is growing has already allowed certain leaders to be defined and they have managed to generate a considerable amount of hype for themselves.
Wearable computing is something that required a definition only a short while ago.
Only a handful of months ago would have had the majority of people asking for a definition of what smartphones and wearable technology devices actually are before they could be discussed. However, while 2013 may have been a period of only the earliest adopters, this year will likely see these gadgets working their way into the mainstream. This has caused those companies that wish to be players in this space to aggressively grasp for their positions, allowing the most successful to already define their places at the top.
Pebble is among the smartwatches that has managed to climb rapidly to the top and hold its position so far.
That company has already released more than one generation of its wearable technology devices, with its Pebble Steel having recently hit the shelves.
A research company called the Smartwatch Group has recently been formed in Switzerland to help to watch the growth and movements within the industry for these mobile devices and to help to measure some of the developments that occur within it. Already, that organization has been able to compile, analyze, and release some insightful statistical data and insights about this sector of the mobile devices world.
According to Pascal Koenig from the Smartwatch Group, in 2013, that industry reached $700 million in terms of its global market volume. This represents a growth of ten times what it had been in the previous year. That said, it is expected to rise to $2.5 billion, this year. That represents about 5 percent of the overall traditional wristwatch industry. The group predicts that over the next few years, this industry of smartwatches will continue to see a growth rate within the three digit percentages.