The global smart watch market size is expected to reach USD 95.78 Billion in 2028 and register a CAGR of 19.1%, according to the latest report by Emergen Research. Key factors such as increasing public awareness about health, emergence of several market players, and technological advancements in smart watches are driving global market revenue growth.
A smart watch is a wearable computing device that is capable of performing various activities such as making/receiving calls, messaging, fitness tracking, internet connectivity, weather updates, GPS tracking when paired with smartphones. These smart watches are often used by fitness enthusiasts to keep a track of their exercises and daily activities and can also be used to play music or games and track health of the patient in real-time. In addition, factors such as rising per capita income, increasing incidences of various diseases, improving standard of living of people across the globe, and rapid growth in digitalization are boosting global market growth. Moreover, various market players are investing in research and development to develop advanced products with additional features such as sturdy and lightweight.
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The Global Smart Watch Market Research Report provides a brief overview inclusive of the competitive landscape and key developments, policies, manufacturing costs, and processes. The report also provides the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. The report further discusses in detail the driving factors influencing the growth of the market currently and in the coming years.
Competition in the Smart Watch Market
The Smart Watch Market report contains information on leading vendors’ product launches, sustainability, and prospects, such as: The report also discusses the key players involved in the market such as Samsung Electronics Co. Ltd., Fossil Group Inc., Sony Corporation, LG Electronics Inc., Lenovo Group Limited, Fitbit Inc., Garmin Ltd., Apple Inc., Huawei Technologies, Motorola, and Polar Electro Oy are major players operating in the smart watch market.
Some Key Highlights From Report :
Among the product type, the standalone segment is expected to register rapid revenue CAGR throughout the forecast period. Increasing demand for smart watches with SIM cards that can receive calls and send text messages without being connected to smartphones and high usage of standalone smart watches by people engaged in outdoor activities such as travelling or hiking are key factors boosting segment revenue growth.
Based on the operating system, the iOS segment is expected to account for significant revenue growth between 2021 and 2028 owing to factors such as rising disposable income, high adoption of iOS devices, and availability of advanced iOS operating systems such as RTOS or WatchOS for smart watches.
Among the application segments, the personal assistance segment is expected to account for largest revenue share over the forecast period. Rising health awareness, increasing adoption of smart devices and high usage of voice-recognition virtual assistants for monitoring daily activities are key factors boosting segment growth.
The smart watch market in North America is expected to account for largest revenue share throughout the forecast period. High revenue share is attributed to factors such as rising sales of consumer electronics such as smartphones, laptops, smart watches, increasing health awareness among consumers, technological advancements in smartwatches, and increasing prevalence of chronic diseases and diabetes.
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The Smart Watch Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global Smart Watch Market . The report offers in-depth research and assessment of the key elements of the global Smart Watch Market . The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Smart Watch Market .
For this study, Emergen has segmented the global smart watch market based on product, operating system, application, and region:
Product Outlook (Revenue, USD Billion, 2018 – 2028)
- Extension
- Classical
- Standalone
Operating System Outlook (Revenue, USD Billion, 2018 – 2028)
- Android
- Windows
- iOS
- Others
Application Outlook (Revenue, USD Billion, 2018 – 2028)
- Wellness
- Sports
- Personal Assistance
- Health
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
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Why should you buy this Smart Watch Market report?
- The study paper dissects the total market potential of major regions with strengths, opportunity and challenge, constraints, and dangers.
- By identifying the high-improvement locations, the study inspects the open entryways, keeping an eye out for accomplices.
- It examines each submarket in terms of a single improvement design and its contribution to the market.
- It examines the recent developments, such as advancements, business strategies, new product releases, and acquisitions.
- It purposefully profiles the major market players and thoroughly investigates their advancement strategies.
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