Smartwatches Market in 2021 Predictions, Marketing Strategies and Must Have List of Top Key Players Pebble Technology Corporation, Samsung Electronics Co. Ltd

Global smartwatches market was valued at US$ 23,306.4 Mn market in 2019 and is forecast to reach a value of US$ 5,97,264.4 Mn by 2027 at a CAGR of 53.6% between 2015 and 2025.

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Smartwatches are wearable computing devices that resemble wristwatch but come with added advanced features such as weather update, messaging, enable call making, connection to the internet, Bluetooth-enabled, GPS, and more. Moreover, it also offers an answering messages by voice and fitness tracking app.

Market Opportunities

Continuous product innovation by key players is projected to bring new market opportunities over the forecast period. For instance, in December 2019, Garmin has launched the Venu and Vivoactive 4 smartwatches in India. Venu smartwatch is the first watch from the company that will have an AMOLED screen.

Market Trends/Key Takeaways

The rising popularity of lightweight and stylish design smartwatches among consumers is encouraging manufacturers to introduce lightweight and durable smartwatch. For instance, in August 2019 Misfit has launched the Vapor X, it is the lightest and most efficient Wear OS smartwatch.

Section:

Company Names

Pebble Technology Corporation
Samsung Electronics Co. Ltd
Nike Inc.
Garmin Ltd.
Sony Electronics Inc.
Fitbit Inc.
Martian Watches
ConnecteDevice Ltd. (COOKOO)
Apple Inc.

Drivers:

Increasing usage of the internet and smartphone is primarily fueling the market growth of the smartwatches. Additionally, features such as ease of handling and use is another major factor propelling the market growth of the smartwatches. Growing youth population coupled with the rising popularity of these devices due to their advanced features is also expected to foster the market growth of the smartwatches over the forecast period.

Global Smartwatch Market - Impact of Coronavirus (Covid-19) Pandemic

The outbreak of the novel coronavirus is expected to cause a significant impact in the smartwatch industry owing to temporary and permanent closure of manufacturing units across the globe. Moreover, work from trends is increasing the demand for consumer electronics such as laptop, computers among other that is expected to increase the demand for the smart watches over the forecast period.

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Detailed Segmentation:

Global Smartwatches Market, By Price Range:
High-End smartwatches
Mid-End smartwatches
Low-End smartwatches

Global Smartwatches Market, By Operating System:
Android Wear
Watch OS (iOS)
Others
Forage and Turf Grasses
Other Crops

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Coherent Market Insights is a global market intelligence and consulting organization, focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions.We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods.

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