Smartwatch - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Smartwatch Market is accounted for $24.68 billion in 2020 and is expected to reach $110.46 billion by 2028 growing at a CAGR of 20.6% during the forecast period. Increase in health awareness among the consumers and growth in demand for wireless fitness & sports devices are driving the market growth. However, the high initial cost of smartwatch may hamper the market growth.
A smartwatch is a wearable electronic device that also has computed capabilities for specific functions and closely resembles a wristwatch, many smartwatches have wireless communication capabilities that a user can use from the watches interface to initiate and answer phone calls, read emails and messages, receive weather report updates, dictate emails or text messages, or use it as a personal digital assistant.
Based on the product, the standalone smartwatch segment is going to have lucrative growth during the forecast period owing to its advanced features such as wireless operations, sim card acceptance, and access capability for the internet. Moreover, the increasing demand for the intelligent based device for monitoring the daily activities is further boosting the market growth of the segment.
By geography, Asia Pacific is going to have high growth during the forecast period due to the growing consumer electronics industry, coupled with a rapid rise of smartwatch market vendors across the emerging economies of the region.
Some of the key players profiled in the Smartwatch Market include Apple Inc., Fitbit Inc, Fossil Group Inc., Garmin Ltd, Huami Corporation, Huawei Technologies Co. Ltd, Lenovo Group Limited, LG Electronics Inc., Polar Electro OY, Samsung Electronics Co. Ltd and Sony Corporation.
Estimated Market Size in 2020:
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 110.46 billion
Tables, Graphs& Figures
Labeling Technique, Product, Application, End User, Treatment Type, Type, Method, Sales Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Apple S1
Display Types Covered:
• Active-Matrix Organic Light-Emitting Diode (AMOLED)
• Interferometric Modulator Display
• Liquid-Crystal Display (LCD) Smartwatches
• Organic Light Emitting Diode (OLED) Smartwatches
• Passive Matrix Organic Light-Emitting Diode (PMOLED)
• Super Active-Matrix Organic Light-Emitting Diode (SAMOLED) Smartwatches
• Thin Film Transistor (TFT) Liquid-Crystal Display (LCD)
Age Groups Covered:
• 3-14 Years
• 15-24 Years
• 25-34 Years
• 35-54 Years
• 55+ Years
Operating Systems Covered:
• Android/Android Wear OS (Operating System)
• AsteroidOS (Operating System)
• Embedded OS (Operating System)
• Firefox OS (Operating System)
• Pebble OS (Operating System)
• Real Time Operating System (RTOS)
• Sailfish OS (Operating System)
• Ubuntu Touch
• Watch OS (Operating System) (iOS)
Price Ranges Covered:
• High Price
• Low Price
• Medium Price
RAM’s (Random Access Memories) Covered:
• 512 MB
• 1 GB
• 2 GB
• 3 GB
• 4 GB
• Classic Smartwatch/Hybrid Smartwatch
• Extension Smartwatch
• Standalone Smartwatch
• Global Positioning System (GPS)
• Personal Assistance & Safety
• Media and Entertainment
• Other Applications
Sales Channels Covered:
• Online E-commerce Store
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2010, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Smartwatch Market is majorly driven by increase in health awareness among the consumers and growth in demand for wireless fitness & sports devices.
The standalone smartwatch segment is growing at a highest CAGR owing to its advanced features such as wireless operation.
North America dominated with a significant market share due to the factors such as increase in personalized medicines, identifying the genetic modifications and therapeutic areas across the region.
Asia Pacific market is growing at a highest CAGR owing to growing consumer electronics industry, coupled with a rapid rise of smartwatch market vendors in the region.
Key players in Smartwatch Market include Apple Inc., FitbitInc, Fossil Group Inc., Garmin Ltd, Huami Corporation, Huawei Technologies Co. Ltd, Lenovo Group Limited, LG Electronics Inc., Polar Electro OY, Samsung Electronics Co. Ltd and Sony Corporation.
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