Smart Watches Market : Introduction of New Products with Innovative Features Raises Level of Demand || Key Players: Fitbit, Inc., Beijing Xiaomi Technology Co., Apple, Inc., and Alphabet Inc.

Fact.MR envisages the global smartwatches market to reach a valuation of US$61.0 bn by the end of 2022. Standalone smartwatches could post a higher CAGR of 4.3% during the forecast period 2017-2022 compared to other products offered in the global market. However, companion smartwatches are expected to bag a lion’s share of the global market, although they may show a relatively slower growth rate for the next few years. The global smartwatches market also receives some contribution from classic smartwatches segment, even though it may not be as popular as other products.

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The global smartwatches market is prognosticated to see expansion on the back of increasing technological development in the smart products industry. Advanced features such as health and fitness tracking could swell the demand in the global smartwatches market. Convenience is one factor that is expected to create a whole lot of demand in the global smartwatches market. Increasing technological knowledge of consumers about the usability of smart products could improve the demand in the global smartwatches market. Rising penetration of smartphones and disposable income of consumers are foreseen to catapult the global smartwatches market to the next level.

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Benefits such as convenience in the management of tasks and easy health tracking are projected to create rewarding opportunities in the global smartwatches market. On the other hand, improving number of tech-savvy users and increasing disposable income of consumers could support the growth of the global smartwatches market. The advent of new applications and launch of innovative products are forecast to push the rise of the global smartwatches market for years to come.

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From a geographical perspective, the global smartwatches market could find North America growing as one of the most lucrative regions. Moreover, North America is anticipated to have a higher market attractiveness index compared to other regions of the global smartwatches market. Although it may grow at a moderate pace, North America is expected to dominate the global smartwatches market with its massive share. Although APEJ could collect a lower share of the global smartwatches market, it is prophesied to grow at a higher rate in the foreseeable future. However, Japan could show a lethargic growth rate in the global smartwatches market. In terms of market share, Europe could tread upon the heels of North America.

The report studies important companies operating in the global smartwatches market, viz. Fossil Group, Inc., Fitbit, Inc., Beijing Xiaomi Technology Co., Apple, Inc., and Alphabet Inc.

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This release was published on openPR.