Kids Smartwatch Market Registering At a CAGR of 14.6% From 2021 to 2030 | North America Region Held the Highest Market Share of 33.8% in 2020
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Rise in health awareness among consumers, advanced features of smartwatches and technological advancements in the healthcare industry drive the growth of the global kids smartwatch market. However, the outbreak of the COVID-19 pandemic led to halted manufacturing activities across the world. At the same time, disruptions in the supply chain, a decline in shopping, and the closure of schools and colleges all harmed the kids smartwatch market.
The growing disposable income also encourages the use of kids smartwatch. This, in turn, is expected to have a significant impact on the growth of the kids smartwatch market during the forecast period. Several technology companies are entering the kids smartwatch market to meet consumer demand.
As per the kids smartwatch market forecast, by product type, the standalone segment was highest revenue contributor in 2020. The standalone smartwatches include parental controls which allow parents to track every movement of their kids. By compatibility, the android segment held the largest kids smartwatch market share because this type of smartwatch is equipped with advance features and is easy to use.
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Based on product type, the standalone segment held the highest market share in 2020, holding more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the integrated segment is estimated to register the highest CAGR of 15.1% from 2021 to 2030.
By connectivity, the cellular networks segment was highest revenue contributor in 2020. This is attributed to the increased use of cellular network connected devices. By distribution channel, the specialty stores held the largest market share because this type of stores provide different kind of kids smartwatch with a variety of specifications and features.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding around one-third of the total market share, and is estimated to continue its dominant share by 2030. However, LAMEA is projected to manifest the fastest CAGR of 16.8% during the forecast period.
The innovation of kids smartwatches for various applications is supporting the kids smartwatch market growth. Due to the latest innovations in smartwatch products, the North America market is growing rapidly, providing unique product features and bringing benefits to manufacturers. With the evolution of new technologies, these technologies are increasingly used in North America.
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The key players in the global kids smartwatch industry include Doki Technologies Ltd., Huawei Technologies Co. Ltd, LG Electronics Inc., Omate Inc., Precise Innovation LLC, Tencent Holdings Ltd., Tinitell AB, Vtech Holdings Ltd., and Xiaomi Global Community.
Key Benefits For Stakeholders:
• This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global kids smartwatch market from 2021 to 2030 to identify the prevailing market opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the market segmentation assists to determine the prevailing kids smartwatch market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global industry.
• The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
• The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
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