Press release
Smartwatch Market Sales to Top US$ 120 Bn at a CAGR of 19% through 2031
Smartwatch Market 2022
The global smart watch market is anticipated to attain a valuation of US$ 120 Bn by the end of 2031. Smart watch sales are predicted to surge at a CAGR of 19% through 2031. According to an exclusive study on global smart watch market by Persistence Market Research, the market is estimated to exhibit tremendous growth with 16.6% CAGR to reach above US$ 30,811 Mn by the end of forecast period (2017-2027). Continuous innovations in smart watches have led this market to achieve highest expansion.
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Every passing day, people's desire to represent themselves with trending fashion is leading to adopt latest attire. Smart watches are trending wearable, that are blend of smart technology and fashion. Further, people those are health conscious are lucky to have this smart way to monitor different aspects related to health and can easily share it with their health advisors through digital techniques. Smart watches are equipped with technology that allows it to connect with smartphones via Bluetooth or other sharing techniques so as to quickly go through notifications or messages etc.
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.
Dynamics of Market
Smart watches allow one to integrate apps and extend usage of the mobile phone. Latest features in smart watch with android operating system include handwritten recognition, much easier way to reply to messages, Google assistance on the wrist and the apps can now run without the phone in reach. According to the report, the android wear smart watch segment is anticipated to increase at double-digit CAGR value over the assessment period. Whereas, the smart watches based on iOS platform will expand at steady growth rate and are anticipated to retain its dominance in the smart watch market throughout the assessment period.
Several smart watches have technology to pay bill through just a tap. The apple pay features provides this facility to consumers to pay hassle-free. One's credit card details can be stored in the watch without opening wallets, he/she can pay through it. However, these smart watches cost a lot more than regular one. Such kind of facility won't be available in medium price smart watches. The report reveals, in terms of revenues, the medium price smart watches are likely to witness steady expansion through 2025, while low price smart watch segment will showcase high y-o-y growth rate.
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Also, on the basis of age group, 25-34 years segment is likely to remain most attractive in the global smart watch market, in terms of value throughout the forecast period. Moreover, 15-24 years segment is likely to witness expansion at double digit CAGR over the assessment period.
The study also analyzes dynamics of market on the basis of sales channels. The market has been segmented into organized retail chain, unorganized retail chain and e-commerce stores.
Among these, organized retain chain segment is expected to register high y-o-y growth over the assessment period. Further, in terms of value, the segment is anticipated to increase at staggering double-digit CAGR throughout the assessment period.
The online e-commerce segment had secured over US$ 3,876 Mn revenues in 2016 and projected to grow at steady CAGR throughout the assessment period. However, the online e-commerce store segment is expected to be most lucrative segment of the global smart watch market over the assessment period.
On the other side, the market also has been segmented in to extensive smart watch, hybrid smart watch, standalone smart watch, on the basis of product type. Among these, the standalone smart watch segment retained its dominance in 2017, procuring more than one-third revenue share of the market.
The North America, Latin America, MEA, APAC and Europe are 5 key regions that are analyzed in the report. Asia Pacific retained its dominance in 2017 in smart watch market with the contribution of more than US$ 2,915 Mn to the global market. In addition, the North America smart watch market is anticipated to grow at high CAGR throughout the assessment period.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Smart Watch Market Manufacturers
Smart Watch Market Distributors/Traders/Wholesalers
Smart Watch Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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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?
Who are the key manufacturers in Market space?
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?
If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.
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Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
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