Press release
Impact of Covid-19 Outbreak on Smart Watch Market 2020 Share, Trends With Top Key Players Apple Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics
Smart Watch Market
The global smart watch market is expected to decline from $54.80 billion in 2019 and to $52.88 billion in 2020 at a compound annual growth rate (CAGR) of -3.51%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $84.90 billion in 2023 at CAGR of 17.10%.
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The smart watch market consists of sales of smart watches and related services that are used in medical, sports, gaming, and personal assistance. A smart watch is a computer-based wristwatch that provides many other features besides timekeeping. Examples include monitoring the heart rate, tracking the activity, and delivering day-round reminders.
The increasing health awareness among consumers is a key factor driving the growth of the smartwatch market. Through a smartwatch, the user can take the necessary precautions in advance about health. The doctors can easily monitor the health status of patients remotely and can maintain, prescribe or treat them as required. For Example, the new Apple watch series 5 is capable of tracking heart rate, nervous system, emergency or inactivity warnings, and health events. According to the Rock Health 2019 study, the wearable use was around 33% for 2018 and 2019, while, the digital health tracking increased steadily from 38% in 2018 to 42% in 2019. Increasing number of people are using digital tools such as smartwatch to address critical health needs rather than just exercise tracking. Therefore, the increase in health awareness among the consumer is expected to drive the smartwatch market.
Smart Watch Market Segmentation: -
By Product
Extension
Standalone
Classical
By Application
Personal Assistance
Wellness
Healthcare
Sports
Others
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Few Points From Table Of Content
1. Executive Summary
2. Smart Watch Market Characteristics
3. Smart Watch Market Size And Growth
4. Smart Watch Market Segmentation
5. Smart Watch Market Regional And Country Analysis
......
25. Smart Watch Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Smart Watch Market
27. Smart Watch Market Trends And Strategies
28. Smart Watch Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Smart Watch Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Smart Watch Market are Apple Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, Huawei Technologies Co. Ltd., Fossil Group Inc, Google Inc.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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