Smartwatch Market Size 2022 with Top Countries Data Industry Growth, Forecasts Analysis, Company Profiles and Competitive Landscape

The Smartwatch market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Smartwatch Market share and Market size prominent players for 2020 to 2027 are profiled in this report.

Competitive Landscape: Apple Inc.,  Samsung Electronics Co. Ltd,  Garmin Ltd,  Fitbit Inc.,  Fossil Group Inc.,  Huawei Technologies Co. Ltd,  Sony Corporation,  Lenovo Group Limited,  Huami Corporation,  LG Electronics Inc.,  Polar Electro OY and Others

Industry News:

- September 2019 - Garmin unveiled a new Venu smartwatch and adult Marvel watches. The Garmin Venu, VivoActive 4, VivoMove 3, and Legacy Heroes Series are all designed to give a tougher competition for the Apple Watch.
- August 2019 - Samsung launched Galaxy Watch Active 2, which comes with an improved heart rate and an accelerometer. It also features a haptic-response touch bezel instead of a physical one.

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Scope of the Report:

The Smartwatch Market is expected to register a CAGR of 14.5% over the forecast period 2022 - 2027.

- According to the survey from Rock Health on digital health adoption, in 2019, wearable adoption increased rapidly from 24% in 2018 to 33% in 2019. More consumers are leveraging such devices to address critical health needs rather than just fitness tracking.
- The COVID-19 is expected to have a significant impact on the market in the current year and the first two quarters of the year following it as the supply chain has experienced a huge disruption owing to the COVID-19 being declared as a pandemic. However, for the existing customers, the smartwatch companies are increasingly making efforts for product innovations toward monitoring coronavirus infection rates via smartwatches. 

Key Market Trends:

Medical and Fitness to Account for a Significant Market Share
- Monitoring health has been the most advantageous aspect of wearables technology. Not only does it help fitness-enthusiasts by providing them with necessary health parameters but also aids patients by providing insights on their conditions. People are more worried about their health, and this has led to an increase in shipment of fitness trackers. Since every smartwatch has a component of a fitness tracker, the popularity growth of the smartwatch is increasing significantly, as it has multi-functional features for recording health parameters.
- Saving on both the time and resources, smartwatches are helping doctors by rendering some complex and significant information. Medical professionals are being backed by this data in solving puzzles, like what would be the impact of a new drug, or the constant monitoring of recovery status of an operated patient and much more.

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Asia-Pacific Region is Expected to have Fastest Growth
- The Asia-Pacific is expected to witness the highest growth in the smartwatch market due to the growing consumer electronics industry, coupled with a rapid rise of smartwatch market vendors across the emerging economies of the region. Also, increasing the tech-savvy population, a rising pool of chronic diseases, such as obesity and diabetes, along with growing popularization of health and fitness to maintain a healthy lifestyle, is driving the market growth.
- Advancements in research across the region are leading to increased innovation in recent years, which is instrumental, thereby driving the demand for the smartwatch market to augment public safety measures by the department of police and other public safety organizations. Also, the growth in disposable income and the rapid adoption and popularity of enhanced gadgets are some of the primary drivers for the market in this geographical region.

Regional Analysis for Smartwatch Market:

North America, Latin America, Asia-Pacific, Africa, Europe, and others have been studied at length based on various parameters of businesses such as type, size, application, and end-users.  The global Smartwatch Market is presented for niche reading. The report presents portfolios of different strategies and the best practices governing businesses. Some applicable sales methodologies have been included in this research report, that could influence business output.

Highlights about Smartwatch report coverage:

- A complete background analysis, which includes an assessment of the Global Smartwatch Market.

- Important changes in Smartwatch market dynamics

- Smartwatch Market segmentation up to the second & third level regional bifurcation

- Historical, current, and projected size of the Smartwatch market with respect to both value (Revenue) and volume (Production & Consumption)

- Reporting and evaluation of recent Smartwatch industry developments

- Smartwatch Market shares and strategies of key players

- Emerging niche Smartwatch segments and regional markets

- An objective assessment of the trajectory of the Smartwatch market

- Recommendations to companies for strengthening their foothold in the Smartwatch market

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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