Smartwatch Market to Reach $31,070.6 Million by 2025 | Growth in demand for wireless fitness & sports devices

Smartwatch is a portable intelligent watch that is designed to be worn on wrist and can be connected to various mobile phone devices. The various operating systems such as iOS, android, Tizen, and others, based smartwatch are available in the market.

According to a recent report published by Allied Market Research, the global smartwatch market was valued at $9,264.9 million in 2017 and is projected to reach at $31,070.6 million by 2025, growing at a CAGR of 16.2%from 2018 to 2025.

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The standalone segment accounts for the highest market share in the global smartwatch market due to various features such as wireless operations and sim card acceptance & can be used as mobile phone, and others. Growth in demand for wireless fitness & sports devices, increase in health awareness among the consumer, and entrance of large number of players, drive the growth of the market. Healthcare segment is expected to exhibit a faster growth, with a CAGR of 17.9% during the forecast period, owing to increase in health-related concerns.

Key Benefits for Global Smartwatch Market:
•This study presents an analytical depiction of the global smartwatch industry along with the current trends and future estimations to depict the imminent investment pockets.
•The overall smartwatch market potential is determined to understand the lucrative trends to gain a stronger foothold in the industry.
•The report includes information related to key drivers, restraints, and opportunities with a detailed impact analysis.
•The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the smartwatch market.
•Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.

Smartwatch is available in various operating systems that include watchOS, Android, TOS, Tizen, and others. WatchOS is the highest contributor, owing to huge penetration of Apple iPhone in the market. At present, among these categories, about 44% of the market revenue is garnered by smartwatch with watchOS.

Industry by Application:
•Personal Assistance
•Wellness
•Healthcare
•Sports
•Others

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The major players operating in the Smartwatch market are Apple Inc., Google Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, and Huawei Technologies Co. Ltd. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.

About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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This release was published on openPR.