(Reuters) – Competition in the wearable market is taking a turn as Alphabet Inc-owned Google buys Fitbit Inc in a bid to take on Apple and Samsung.
FILE PHOTO: The logo for wearable device maker Fitbit Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) as the company begins public trading in New York, U.S., October 28, 2019. REUTERS/Brendan McDermid
Google agreed to buy Fitbit for $2.1 billion as it looks to introduce “Made by Google” wearable devices into the market.
Here is a snapshot of the projected growth in the wearable market, according to research firm Statista.
Revenue and users:
Interactive graphic on wearable market projected users and revenue: tmsnrt.rs/2N5eApO
Interactive graphic on major global markets for wearables: tmsnrt.rs/2PzlhlH
Interactive graphic on top makers of wearables by market share: tmsnrt.rs/2BzkJ75
The top 5 companies-
1. Xiaomi’s Mi Smart Band 4, priced at 39.99 euro ($44.64), comes with heart rate and proximity sensor to allow some touchless operation.
2. Apple Inc’s Apple Watch Series 5 starts at $399 and includes an electrical heart sensor and an always-on display among other features.
3. China’s Huawei Technologies offers Huawei Watch 2 GT, priced at $275 and offers carrier support, GPS, heart rate monitor, offline music support and tracks user’s vitals.
4. Fitbit’s Versa Lite tracks activity, sleep and heart rate and is priced at $159.95, while its latest offering Fitbit Versa 2 is priced at $199.95 and comes with Amazon Alexa and heart rate tracker.
5. Samsung Electronics Co Ltd’s Galaxy Watches start at $330 and features contactless payments and smartphone connectivity. Its other major product, Galaxy Fit, is a fitness band priced at $100 and tracks the user’s vitals and moves.
Another major player Garmin Ltd is known for its Forerunner series, aimed at athletes, which starts at $169 and offers features including heart rate monitor and GPS. The company’s Fenix premium smartwatches are priced at $800 and feature GPS guidance and heart rate monitor.
Interactive graphic on global wrist-worn wearable devices market share: tmsnrt.rs/2BzkJ75
Reporting by Amal S, Ambhini Aishwarya and Neha Malara in Bengaluru; Editing by Shailesh Kuber