Smart Watch Market Size, Status, Global Demand and Growth Opportunities 2022-Apple Inc.; Garmin; Fitbit; Motorola; Sony Corporation; Samsung Electronics

The MarketInsightsReports has added a new statistical data to its repository titled as, Smart Watch Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. This market report is a detailed study on the growth, investment opportunities, market statistics, growing competition analysis, major key players, industry facts, important figures, sales, prices, revenues, gross margins, market shares, business strategies, top regions, demand, and developments.

The global smartwatch market was valued at $20.64 billion in 2019 and is projected to reach $96.31 billion by 2027, registering a CAGR of 19.6% from 2020 to 2027.

Top Companies in the SmartWatch Market- Apple Inc.; Garmin; Fitbit; Motorola; Sony Corporation; Samsung Electronics; LG Electronics; Huawei Technologies Co. Ltd.; Fossil Group Inc; Google Inc.; Lenovo Group Ltd; Pebble; Qualcomm; TomTom International BV; ASUSTeK Computer Inc.; ConnectDevice Ltd; Huami Corp; Mobvoi Information Technology Company Ltd and others.

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Market overview
A smartwatch can be defined as a computerized device, fashioned to be worn on the wrist with operations matching up to those performed by thermometers, accelerometers, and pedometers. According to smartwatch market analysis, Apple shipped 31 million units of its smartwatches in 2019, which is expected to be 50% more than the entire Swiss wrist watch industry. The shipment of Apple smartwatch has been increased by 36% since 2018. In addition, the company is planning to use ceramic and titanium for its next generation smartwatch and watchOS 6 operating system in future, to provide lightweight and toughness to its upcoming product, and affecting the smartwatch market share globally.

Led by innovations, smartwatch companies are spending heavily on the R&D front. Top players such as Samsung, Pebble, Maritime, and Sony are counting on their R&D investments as a prioritized strategy to increase their respective market shares. Further, a strong distribution support is another key aspect of this market. The leading companies are collaborating with their suppliers and resellers to penetrate in the market through the right selection of the channel, region, and target audience.

Factors such as an increase in demand for wireless fitness and sports devices, a surge in health awareness among users, and a rise in technological advancements in smartwatch by market players are expected to drive the smartwatch market size to a certain extent. However, high initial cost of the technology, and problems related to power consumption and low battery life limit the market growth. Furthermore, growing emphasis for connected devices among various industries, and increasing demand for connected ecosystem are expected to offer lucrative smartwatchmarket growth globally.

Industry news

In November 2019, Alphabet Inc., the parent company of Google, acquired smart watch maker, Fitbit, Inc. for a deal amount of US$ 2.1 billion. Alphabet said that the acquisition helps them in the advancement of its smart watch software, Wear OS. Fitbit, Inc. is an American company that makes fitness bands, smart watches, and accessories which helps in tracking footsteps, exercises, heart rate, and weight.

Global Smart Watch Market Split by Product Type and Applications:

By Product: Extension; Standalone; Classical

 By Application: Personal Assistance; Wellness; Healthcare; Sports; Others

 By Display Type: AMOLED; PMOLED; TFT LCD

 By Operating System: Watch OS; Android/Wear OS; Other Operating Systems

Regional Analysis
Asia-Pacific is expected to witness the highest growth in the smartwatch market, owing to the growing consumer electronics industry, coupled with a rapid rise of smartwatch market vendors across the emerging economies of the region. The increasing tech-savvy population, a rising pool of chronic diseases, such as obesity and diabetes, and the growing popularity of health and fitness to maintain a healthy lifestyle drive the market growth. The Chinese watch market is becoming more casual and is rewarding smartwatch brands. Leading tech companies and tech-obsessed consumers are driving a sharp spike in smartwatches. China's Xiaomi became one of the prominent makers and sellers of smartwatches.

Smartwatches and smart wristbands are becoming popular, with nearly 70% of Chinese smartwatch owners owning a wristband. Local smartwatch brands responded promptly to this trend and snapped up most of the market share. There is an opportunity for western brands to copy from China and establish leading positions in their home markets.

In China, children contributed toward the growth of the country's smartwatch industry. BKK Electronics, a Chinese multinational firm, performed well with the largest growth rates in smartwatch shipments, surging 64% year on year. BBK Electronics is primarily known as the rising domestic smartphone brands, like Vivo and Oppo. After China, countries such as Japan and India have been the primary consumers of smart wearable technology in the Asia-Pacific region. For instance, in May 2020, Garmin announced that its smartwatch owners in Japan could add their Suica transit card to their wearable device and use it to pay for public transportation and at stores that accept Suica payments. The service is compatible with Android and iOS devices and currently available for ten different Garmin models owners.

Browse Full Report at: https://www.marketinsightsreports.com/reports/05182898544/smart-watch-global-market-report-2021-covid-19-growth-and-change-to-2030-including-1-by-product-extension-standalone-classical-2-by-application-personal-assistance-wellness-healthcare-sports-others-3-by-display-type-amoled-pmoled-tft-lcd-4-by-operating-system-watch-os-android-wear-os-other-operating-systems-covering-apple-inc-garmin-fitbit-motorola-sony-corporation?Mode=126

Major Points Covered in Table of Contents:

– Overview of Smart Watch Market
– Global Market Status and Forecast by Regions
– Global Market Status and Forecast by Types
– Global Market Status and Forecast by Downstream Industry
– Market Driving Factor Analysis
– Market Competition Status by Major Manufacturers
– Major Manufacturers Introduction and Market Data
– Upstream and Downstream Market Analysis
– Cost and Gross Margin Analysis
– Marketing Status Analysis
– Market Report Conclusion
– Research Methodology and Reference

Finally, the Smart Watch Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principal locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Smart Watch Industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation

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