Market Research Future Insights
According to MRFR analysis, the global Smartwatch market is expected to register
a CAGR of ~17.34% from 2022 to 2030 and hold a value of over USD 109.28 million
by 2030.
A
smartwatch is a digital gadget with atomic clock accuracy that is worn on the
wrist. To receive notifications of emails, messages, and incoming calls, it is
connected to a smartphone. It has many programs that provide further
functionality such as showing maps and weather data as well as stock
prices. Additionally, it can send and receive text messages as well as phone
calls. Its demand is rising globally as pedometers and heart rate monitors
enable users to track their health. Global
demand for smartwatches has been driven by the increasing rates of urbanization
and the demand for aesthetically appealing, technologically advanced products
to better meet client requirements such as time schedules and numerous
capabilities in one device. However, a sizeable portion of millennials has
started wearing smartwatches as a result of rising costs associated with
tracking their normal work hours and luxury expectations. The majority of
smartwatches are made to work in tandem with smartphones as information
gateways, allowing these devices to share phone notifications.
Key Players
Some
of the key market players are
·
Amazfit
·
Apple Inc
·
Fitbit Inc
·
Fossil Group
·
Garmin Ltd
·
Google Inc
·
Huawei Technologies Co. Ltd
·
Imoo, LG Electronics Inc
·
Samsung Electronics Co. Ltd.
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Report
Scope:
|
Report Attribute/Metric |
Details |
|
Market
Size in 2030 |
USD 109.28 million |
|
Growth rate: |
CAGR of 17.34% from 2020 to 2030 |
|
Forecast
Period |
2020-2030
|
|
Report Coverage |
Revenue
Forecast, Competitive Landscape, Growth Factors, and Trends |
Smartwatch
Market USP Covered
Regional Analysis
North
America has the highest market share due to the region's high disposable income
and good quality of life. Europe is expected to be the second-largest market
for smartwatches, with nations such as Germany, France, and Italy leading the
way in terms of wearable technology adoption. Due to technological advancements
by regional businesses such as Titan, the entry of large global competitors,
and rising demand for high-end wearable gadgets, Asia-Pacific is likely to be
the fastest-growing market.
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Market@
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Market Segmentation
The
Global Smartwatch market has been segmented into Operating Systems and
Applications.
Based
on the Operating System, the market has been segmented into iOS, Android,
Tizen, Linux, and Others.
Based
on Application, the market has been segmented into Personal Assistance &
Safety, Health / Wellness, Media and Entertainment, Sports, Communication, and
Others.
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