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Smartwatch - Global Market Outlook (2020-2028)

Smartwatch - Global Market Outlook (2020-2028)

4.0 (15 reviews)
Published: June 2021 ID: SMRC20667
4.0 (15 reviews)
Published: June 2021 ID: SMRC20667

This report covers the impact of COVID-19 on this global market

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.

 

smartwatch-fig-93.png

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.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 24.68billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

20.6%

Predicted 2028 Value:

USD 110.46 billion

Forecast Years:

2021-2028

Tables, Graphs& Figures

302

Chapters Covered:

Labeling Technique, Product, Application, End User, Treatment Type, Type, Method, Sales Channel and Region

Core Drivers and Opportunities:

  • Increase in health awareness among the consumers
  • Growth in demand for wireless fitness & sports devices
  • Rise in investment on building connected ecosystem

Restraining Factors & Market Threats:

  • High initial cost of smartwatch


Processor’s Covered:
• Apple S1
• Dual-Core
• Quad-Core
• Single-Core

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)
   
Genders Covered:
• Men
• Women  

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)
• Linux
• Pebble OS (Operating System)
• Real Time Operating System (RTOS)
• Sailfish OS (Operating System)
• Tizen
• 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

Products Covered:
• Classic Smartwatch/Hybrid Smartwatch
• Companion
• Extension Smartwatch
• Integrated
• Standalone Smartwatch

Technologies Covered:
• Bluetooth
• Wi-Fi
• Global Positioning System (GPS)

Applications Covered:
• Personal Assistance & Safety
• Wellness
• Healthcare
• Sports
• Media and Entertainment
• Communication
• Fitness
• Other Applications

Sales Channels Covered:
• Online E-commerce Store
• Offline

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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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