Global Smartwatch Market 2021: Top Industry Players, Growth Report to 2027

The global smartwatch market is anticipated to grow at a considerable CAGR of 19.6% during the forecast period (2021-2027). As the medical equipment are getting vanished from the markets due to their scarcity in the current situation of COVID-19, smartwatches are taking their place with multiple advantages from a single device. These devices are now equipped with SpO2 sensors to track the oxygen level of blood with the addition of heartbeat trackers. Few market players had equipped these devices with temperature sensors to monitor the body temperature of the user.

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The Amazfit GTS 2e of Huami is a recently launched product that has all the features mentioned above with the aesthetic look of the aluminum frame. Similarly, Apple Watch Series 6, Samsung Galaxy Watch 3, OnePlus Watch, Realme Watch S, Oppo Band Style, Fitbit Charger 4, Garmin vivosmart 4, and Honor Band 5i are a few of the smartwatches that can check the oxygen level of blood with SpO2 sensors.

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The smartwatches had already started fulfilling the health and fitness monitoring needs far before the COVID-19 pandemic had started. According to the survey conducted by Rock Health in 2019, the adaptation of wearable devices for health monitoring is increased from 24% in 2018 to 33% in 2019. According to the Clutch report, 61% of people use smartwatches as a wearable device while 27% use fitness trackers. 70% of people using wearable devices use it to track their health and fitness, 61% of people check the time on it and around 52% of people use it for communication purposes. These data show that humans had started using these devices far before the COVID-19, however, the evolution of this disease had added new features to this device. Now, these smartwatches are capable to detected COVID-19 infection 70% times correctly before the actual diagnosis test according to the study of Snyder's group.

Global Smartwatch Market Report Segment

By Product

Classic Smartwatch
Fitness Band Smartwatch
Standalone Smartwatch

By Operating Systems

Android
iOS
Windows
Others

By Applications

Medical/Health
Personal Assistance
Sports
Other

Global Smartwatch Market Report Segment by Region

North America

United States
Canada

Europe

UK
Germany
Italy
Spain
France
Rest of Europe

Asia-Pacific

China
India
Japan
South Korea
Rest of Asia-Pacific

Rest of the World

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