Press release
Smartwatch Market is predicted to reach a market value of US$ 120 Bn by 2031
Smartwatch Market 2022-2031
The global Smartwatch Market is expected to reach US$ 120 Bn by the year 2031 at a CAGR of 19%. Healthcare systems have been basically emphasizing on affordability as well as quality of the medical services. However, now, digitization has come through, which would drive revolution in the same healthcare vertical. The life sciences would go digitally innovative. This would be the way healthcare vertical would go in the next 10 years.
This updated analysis on the smart watch market by skilled analysts at Persistence Market Research's predicts the industry to surge at a CAGR of 19% and reach an estimated value of US$ 120 Bn by 2031.
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Key Players:
The report has profiled some of the Important players prevalent in the global like - Nokia Corporation (Withings), Apple Inc., Samsung Electronics Co., Ltd., Xiaomi Corporation, Sony Corporation, Fossil Group, Inc., Garmin Ltd., Huawei Technologies Co., Ltd., and Fitbit Inc and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Smart Watch.
Smart devices have gained immense popularity over the past decade and have seen a substantial rise in demand and sales alike. Smart watches are devices that are capable of performing multiple tasks and are equipped with sensors that allow them to monitor various health parameters such as heart rate and calorie consumption, which makes them a popular choice among health-aware people and tech-savvy people alike.
Increasing adoption of smart devices, rising demand from emerging economies, increasing disposable income, and rising technological proliferation are some of the major factors driving demand for smart watches.
Prime manufacturers are investing in expanding their product portfolios to meet rising demand for more advanced and feature-heavy smart watches that are capable of performing multiple tasks.
In September 2021, Withings, a French consumer electronics company, announced the launch of its new cardiac-monitoring smartwatch with a luxury look. The ScanWatch Horizon is equipped with multiple heart health features.
In November 2021, Motorola announced the launch of its smartwatch - Moto Watch 100. The watch is the first to run on Motorola's proprietary Moto OS, which is claimed to be focused on health with a battery life of 14 days.
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Key Takeaways from Market Study
Over the next ten years, the global smart watch market is estimated to rise at a CAGR of 19%.
Demand for smart watches from the Asia Pacific region is expected to be highest among all regions.
Rising proliferation of technology, increased demand for smart devices from emerging economies, and high demand from the millennial population are some of the major factors driving smart watch sales.
By the end of the decade, market sales revenue is estimated to top US$ 120 Bn.
Apple, Samsung, and Garmin are leading smart watch manufacturers in terms of sales and market share.
"Demand from economies such as India and China is expected to be majorly influential in shaping the smart watch market on a global scale," says a Persistence Market Research analyst.
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Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
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What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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