Press release
Empowering Young Minds: The Evolution of Kids Smartwatches
According to The Business Research Company's, the kids smartwatch market size has grown rapidly in recent years. It will grow from $1.68 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. the growth in the historic period can be attributed to the rise in smartphone penetration, increased concern for eco-friendly products and packaging, increased penetration in developing regions, rise in disposable incomes, and expansion of online sales channels.
the kids smartwatch market size is expected to see rapid growth in the next few years. It will grow to $3.64 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. the growth in the forecast period can be attributed to rising safety concerns, growing tech enthusiasm, increasing fitness tracking technology, rising trend of communication, and increasing awareness of child safety. Major trends in the forecast period include technological advancements in wearables, the introduction of educational apps, demand for smartwatches with GPS tracking, demand for internet-connected devices, integration with fitness tracking and wellness features.
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Market Drivers and Trends:
The growing emphasis on child safety is expected to propel the growth of the kids smartwatch market going forward. Child safety refers to the practices, measures, and regulations designed to protect children from harm, injury, and abuse. The growing emphasis on child safety is due to factors such as increased awareness of child risks, health and developmental concerns, and parental concerns. Kids' smartwatches typically allow for two-way communication, enabling children to make and receive calls from a list of pre-approved contacts. This ensures that children can reach their parents or guardians easily if they need help or if parents need to contact them. For instance, in December 2023, according to the Department of Child Safety, Seniors, and Disability Services, an Australia-based government agency, the number of investigations finalized by Child Safety increased by 8.8% to 29,772 in 2023 compared to 2022. Therefore, the growing emphasis on child safety drives the kids smartwatch market.
Major companies operating in the kids smartwatch market are developing innovative products, such as water-resistant watches, to ensure safety and connectivity for young users. Water-resistant watches are timepieces designed to withstand exposure to water to varying degrees without being damaged or compromised. For instance, in May 2024, Google LLC, a US-based software company, launched the FitBit Ace LTE, a new smartwatch tailored specifically for children. This latest addition to the FitBit lineup aims to provide parents with a tool to monitor their kids' health and activity levels. The FitBit Ace LTE features a durable, water-resistant design and a vibrant, easy-to-read display. It includes fitness tracking capabilities such as step counting, activity monitoring, and sleep tracking, allowing parents to gain insights into their children's daily routines and overall well-being.
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Major Key Players of the Market:
Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Sony Corporation, LG Corporation, Xiaomi Corporation, ASUSTeK Computer Inc., Motorola Mobility LLC, Garmin Ltd., Huawei Technologies Co. Ltd. , Dexcom Inc., Michael Kors, Giorgio Armani S.p.A, VTech Holdings Limited, Fossil Group Inc. , Tomtom International BV. , Franciscan Solutions Private Limited, Sibyl Srl, Shenzhen Continental Wireless Technology Co. Ltd., Omate Ltd., Doki Technologies, JOY FamilyTech Inc.
Kids Smartwatch Market 2024 Key Insights:
• The kids smartwatch market size is expected to grow to$3.64 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%.
• Rising Focus On Child Safety Fuels Expansion Of Kids Smartwatch Market
• Emerging Trends In Childrens Smartwatches Exploring Innovative Features And Market Developments
• North America was the largest region in the kids smartwatch market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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