Hybrid smartwatch revenue to cross USD 1 billion in 2017: Report

The hybrid smartwatch segment will cross the USD 1 billion mark in revenue in 2017, almost doubling annually, market analytics firm Counterpoint Research said.

Published: 11th March 2017 11:45 AM  |   Last Updated: 11th March 2017 11:45 AM   |  A+A-

By IANS

NEW DELHI: The hybrid smartwatch segment will cross the USD 1 billion mark in revenue in 2017, almost doubling annually, market analytics firm Counterpoint Research said.

The hybrid smartwatches look and function like traditional analogue watches, but include smart features like step tracking, heart rate monitor, notifications and even NFC-enabled payments.

"Hybrid smartwatches sales volumes will grow 77 per cent annually taking the penetration to 12 per cent of the total smartwatch volumes in 2017," said Peter Richardson, Research Director, Counterpoint Research, in a statement. 

AI-enabled hybrid watches will also be on rise, with the trend having already been adopted by brands like  Fossil, Martian and Guess.

"The rise of hybrid smartwatches can be attributed to watchmakers trying to address two key pain points which has held the smartwatch segment growth. Firstly, preserving the traditional aesthetics style and feel, secondly, maximising the battery life while retaining meaningful and frequently used smartwatch features," added Mudit Singh, Analyst, Counterpoint Research. 
 

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