Global Smartwatch Market Research Report

Global Smartwatch Market

The GMI Research forecasts that the Smartwatch Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the growing occurrence of cardiovascular diseases, mounting demand for portable fitness wearable tools, and the rising health awareness among consumers.

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Introduction of the Smartwatch Market:

Smartwatches are intelligent devices worn on the wrist. Almost all smartwatches are paired with smartphones through Bluetooth, which operate as information gateways so that one can easily share phone notifications, email, or application alerts. They also help to trace various activities like fitness tracking, reply to messages & receive calls instantly, and possess the potential to connect while doing activities.

Key Players of the Global Smartwatch Market:

· Huami Corporation

· Huawei Technologies Co. Ltd

· Lenovo Group Limited

· Fitbit Inc.

· Titan Ltd

· Apple Inc.

· LG Electronics Inc.

· Sony Corporation

· Fossil Group Inc.

· Garmin Ltd

· Samsung Electronics Co. Ltd

Smartwatch Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Some prominent drivers, such as the augmenting demand for wireless sports and fitness devices, surging acquisition of smartphones, growing consciousness towards health, along with accelerating disposable income, significantly contribute to the growth of the global smartwatch market. For example, the cyclers, runners, gym-goers, swimmers, and athletes are inclining towards these watches owing to their potential to monitor daily activities, thereby helping in improving their performance level. In addition, the accessibility of fast internet connectivity, strategic initiatives by the government bodies to integrate the Internet of Things technology, and huge investment in smart cities are other factors proliferating the market growth. For instance, the US is a preliminary adopter of niche technology and is proffering technical resources to encourage IoT with recommendations on standards development and interoperability. These watches are employed to make calls, message alerts, listen to music, play games, and access mobile phones. Leading market players, including Apple, Samsung, Maritime, Sony, and Pebble, are persistently expanding their disbursement on various R&D activities to increase their market shares in the global market.

However, the compatibility issues concerned with the operating systems are projected to restrain the market size. Furthermore, the high cost of these devices and insufficient robust internet connectivity acts as a major threat to the market growth. Additionally, the widespread outbreak of the coronavirus pandemic has adversely influenced the market size primarily because of the temporary halt of the manufacturing factories, which disrupts the production process. Nevertheless, the market is expected to bounce back from 2021 onwards.

Smartwatch Market Segmentation:

Segmentation by Product:

· Extension

· Standalone

· Classical

Segmentation by Application

· Personal Assistance

· Wellness

· Healthcare

· Sports

· Others

Segmentation by Operating System

· WatchOS

· Android

· RTOS

· Tizen

· Others

Segmentation by Region:

· North America

o United States of America

o Canada

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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