Smartwatch Market to Observe Exponential Growth by 2023-2032: Fitbit, Motorola, Sony Corporation

Smartwatch Market Overview

The market is showing its excellent growth speed due to the driving force. The higher need for mobility is accelerating the demand of the Smartwatch Market. The global demand is increasing diversely in prominent regions. The industrial verticals are utilizing Smartwatch systems for storing large amounts of data. The growth of industry verticals such as the IT sector is highly driving the market.

Implementation of Smartwatch systems is easy and quite convenient, which raises the demand for Smartwatch facilities. The prime activities of the industries to access data through different devices and share them on various platforms are increasing the adoption of Smartwatch systems. These factors are highly enhancing the opportunities of the Smartwatch Market.

During the pandemic period, the Smartwatch Market has noticed a steady growth rate. Due to the lockdown, people preferred to stay at home and work remotely. The data consumption and the requirement for data storage were highly propelled during this period. Most industries prefer to use Smartwatch systems for securely storing data. These factors have accelerated the market's growth rate. The pandemic period has brought up good growth opportunities for the market. It is estimated to continue its growth performance consistent in the post-pandemic period.

Smartwatch Market Key Players:

The support provided by regulations is estimated to stave off the effects of the downturn considerably in the coming period. Current disequilibrium in the market forces has led to the Smartwatch market players adopting a more cautious approach to growth and development strategies. The expansion of the market has currently come close to a standstill with government agencies and trade bodies, introducing a stimulus to pick up the pace of development in the global market. The planning and forecasting for human capital in the market is estimated to be a crucial area for focus in the years ahead. Players Apple Inc., Google Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, Huawei Technologies Co. Ltd..

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Smartwatch Market Segmentation

The Smartwatch Market is segmented into major segments such as the components, verticals and deployment methods.  The component segment of the market is fragmented into solutions and services. The solution segment has data archiving, Smartwatch gateway, backup storage, disaster recovery, and primary storage. While the service segment is subdivided into support and maintenance, training and consulting, migration and cloud integration, and managed services.

The vertical segment of the market involves industrial verticals such as travel and hospitality, education, BFSI, healthcare industry, e-commerce and retail, IT and telecommunication, government, and others. The cloud deployment model consists of private cloud, hybrid cloud, and public cloud. Segmentation By Product (Extension, Standalone, Classical), By Application (Personal Assistance, Wellness, Healthcare, Sports, Others), By Operating System (WatchOS, Android, RTOS, Tizen, Others).

Smartwatch Market Regional Overview

According to the geographical report, the Smartwatch Market covers major regions such as the North American region, Europe, Asia Pacific and the rest of the world. The North American region occupies the largest market share due to the higher investment in cloud-based solutions. The increased rate of adoption of advanced technologies is accelerating the market.  The Asia Pacific region will also show a good growth rate in the forecast period due to its consistent growth performance and the wide usage of Smartwatch systems in various sectors.

By Component (Hardware and Software)

By Platform (Desktop, Mobile, VR Headset)

By Technology (Blockchain, VR & AR, Mixed Reality)

By Application (Gaming, Online Shopping, Content Creation, social media, Others)

By End Users (BFSI, Retail, Manufacturing, Media & Entertainment, Education, Aerospace & Defense, Other)

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Industry News

Google has announced the launch of BigLake, and it is a new and advanced data lake storage engine. It makes it easier for enterprises to analyze the data in data warehouses and data lakes.

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This release was published on openPR.