Global Smartwatch Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
The global smartwatch market is expected to be valued at US$ XX Mn in 2019 and is projected to register CAGR of XX% over the next 10 years. The global smartwatch market report is an upcoming report generated by MarketResearch.biz, which focuses on global market, along with region-wise and country-wise markets. The report offers information regarding driving and hampering forces, trends, potential opportunities, PEST Analysis and Porter’s Analysis. In the next section, the report provides segment-wise revenue details, revenue shares, CAGR registered by each of the segments, and justification of the quantitative data. Further, the report offers region-wise qualitative and quantitative data, followed by detailed information about prominent players operating in the global market. The global smartwatch market report has been segmented on the basis of product, application, operating system, and region.
Smartwatch: Product Overview
Smartwatch is one of the portable devices which is used for tracking various activities including heart rate, calories burnt, steps covered in a day, and others. Smartwatch is similar to mobile phones with a touchscreen display and also consists of many types of applications by which a person can access his or her mobile phone. Smartwatches are used in tracing events in sports, medical application for monitoring pulse rate and heart rate. These smartwatches are also used as fitness trackers, GPS tracking devices, and accessing notification from smartphones.
Increasing adoption of smartphones across the globe, coupled with growing Internet penetration are major factors expected to drive growth of the target market. In addition, increasing development of devices with advanced features and design innovations, coupled with rapidly increasing preference of individuals towards enhanced electronic devices and rising number of health and fitness conscious people are other factors expected to drive growth of the global smartwatch market. Furthermore, rising demand for wireless fitness & sports devices, increasing health awareness among the consumers, and entrance of large number of players in the target market are among the other factors expected to drive the growth of the target market.
However, high cost of devices and lack of required Internet connectivity in various developing countries are among the major factors that could hamper growth of the target market.
Among the product segments, the extension segment is expected to dominate in the global market in terms of revenue share. Next-generation smartwatches could be used as an extension to smartphones or connected devices, this coupled with added features such as better connectivity, alerts, and tracking which are compatible with extension smartwatches are factors expected to drive growth of the extension segment.
Among the application segments, the healthcare segment is expected to dominate in the global market in terms of revenue.
By Operating System:
Among the operating system segments, the Android segment currently dominates in the global market and is expected to continue with its dominance in the years to come. The WatchOS segment is estimated to account for considerable revenue share in the global market.
Global Smartwatch Market: Regional Analysis
Currently, the North America market accounts for largest revenue share and is projected to continue with its dominance over the forecast period. This can be attributed to increasing trend of early adoption of new and upcoming technologies in countries such as the US and Canada in the region. In addition, presence of prominent players, coupled with increasing investments by major players in the region in research & development activities in order to offer high-tech devices and sustain in the market.
The Asia Pacific market is projected to register significant growth rate in the global smartwatch market over the next 10 years, owing to increasing penetration of Internet and rising adoption of smartphones, coupled with growing per capita income of individuals in countries in the Asia Pacific market. The Europe market is accounted for considerable share in terms of revenue in the target market. The market in Middle East and Africa is expected to witness average growth rate over the forecast period.
Global Smartwatch Market Segmentation:
Segmentation by product:
Segmentation by application:
- Personal Assistance
Segmentation by operating system:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Apple Inc.
- Google LLC
- Garmin Ltd.
- Fitbit, Inc.
- Motorola Mobility LLC
- Sony Corporation
- Samsung Group
- Lenovo Group Ltd.
- ASUSTeK Computer Inc.
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