Smartwatch Market Size, Share, Growth and Forecast to 2030

0
771

Smartwatch Market Analysis

The global smartwatch market is set to grow at a CAGR of 17.34%, estimated to reach USD 109.28 million during the forecast period 2020-2030 driven by the rising penetration rates of urbanization, the demand for aesthetically appealing advanced products. The COVID-19 pandemic and its implications are explored in depth in the market.

Market Scope

The global smartwatch market is driven by inclination towards high-end electronic devices and its high capacity in assisting users in their daily routines. Integration of near-field communication and other communication standards for faster exchange of data can attract users. Shift towards high-end devices owing to its attractive value and its features can lead to high sales over the forecast period.

Huge spending in research and development to improve the features and handling of smartwatches can lead to launch of premium products. Companies are launching low-end and mid-tier watches to target all customer demographics. Demand for aesthetically pleasing products and a large millennial customer base can be a viable opportunity for the smartwatch market.

Order a free sample PDF of the Smartwatch Market Study, published by Market Research Future.

COVID-19 Impact Analysis

The COVID-19 pandemic has accelerated the sales of smartwatches and boosted market demand significantly. Rising awareness of health amid the fear of the virus and overflowing of patients in hospitals is likely to guide buying decisions of customers. Researchers are conducting experiments on the benefits of smartwatches and its role in detecting diseases in the early stages. For instance, FitBit has developed an algorithm to detect COVID-19 in preventive stage of the disease by monitoring symptoms.

Segmentation

Android OS to Lead in Market Demand

The Android OS segment is set to lead in market demand due to its open-source nature and ubiquity in all smart devices. Many smartphone manufacturers have launched smartwatches due to its compatibility with mobile devices.

Health & Wellness Application to Capture Major Market Share

The health and wellness application is set to capture a major market share owing to rise of health-conscious customers and developments in watches for tracking health metrics. Large number of smartwatch manufacturers targeting the segment due to the fear of COVID-19 can benefit global market over the forecast period.

Regional Analysis

North America to Dominate Global Smartwatch Market

North America will lead in demand in the global market due to increase in spending levels of customers and affinity towards latest technologies. Concerns over fitness levels and compatibility with smartphones can drive regional market demand. Moreover, investments in research and development to ensure integration of latest features to attract a large customer base is the gameplay of market leaders in the region.

Industry News

Garmin has announced a slashed rate for its smartwatches in India for its anniversary. This can create customer attention and lead to higher awareness among its customers.

Competitive Analysis

Imoo, Huawei Technologies Co. Ltd., Google Inc., Fitbit Inc., Samsung Electronics Co. Ltd., Amazfit, Fossil Group, LG Electronics Inc., Garmin Ltd., and Apple, Inc. are key players in the global smartwatch market.

Read More @

Temperature Sensors Market Size is expected to reach USD 12 billion at a 5% CAGR by 2030- Report by Market Research Future (MRFR)          

Smart Shoe Market to Reach USD 345.5 Billion at a CAGR of 13.60% by 2030- Report by Market Research Future (MRFR)

Enterprise IoT Market is Reach to USD 2465.2 Billion at a CAGR of 28.40% by 2030- Report by Market Research Future (MRFR)

Contact us:

Market Research Future®,

99 Hudson Street,

 5Th Floor,

New York, New York 10013,

United States of America

Phone: +1 628 258 0071(US),+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

 

 

 

 

 

 

 

Реклама
Поиск
Реклама
Категории
Больше
Литература
Web Performance Market Past Research, Deep Analysis and Present Data 2029
Web Performance Market was valued at US$ 5.36 Bn. in 2022 and is expected to reach US$ 9.92 Bn....
От Sandip Jagtap 2024-01-25 06:33:00 0 757
Бизнес
Metaverse Market 2022 Regional Analysis, Trends & Forecast To 2030
Metaverse Market: The Future of Virtual Reality The Metaverse is a term coined to...
От Harsh Roy 2023-03-31 06:43:48 0 837
Разное
Лучшие гель-лаки по доступным ценам в известном интернет-магазине
Современный выбор гель-лаков впечатлить может каждого! Есть сотни разных брендов, а кроме того...
От Sonnick84 Sonnick84 2024-06-09 13:29:41 0 372
Бизнес
Growth Trends and Innovations in the Voice Recognition Biometric Market
Voice Recognition Biometric Market Overview The voice recognition biometric market has...
От Siddhi Gade 2024-09-13 10:47:04 0 0
Бизнес
Insect Pest Control Market Enroute to a USD 29.43 Billion Valuation by 2030
Insect Pest Control Market Overview The  Insect Pest Control Market Size was valued at USD...
От James Thomas 2023-11-06 10:34:26 0 861