The Smartwatch Market was valued around USD 20 billion in 2019 and is expected to grow at a CAGR of 16.50% during the forecast period (2020-2027).

The factors driving growth of Smartwatch Market includes growing demand for fitness tracking devices around the world, rising penetration of smartphones, increasing consumers inclination towards maintaining physical health and improvements in the living standards. Moreover, integration of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and big data analytics, rise in the launch of innovative products, growing popularity of wireless devices are further supporting the Smartwatch Market share. In addition, the increasing investments by major companies on research and development, strategic mergers, and collaborations between key industry players, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Smartwatch Market is hindered attributed to increasing availability of substitute products.

The prominent players operating in the market are Sony Corporation, Lenovo Group Limited, Huami Corporation, Apple Inc., Samsung Electronics Co. Ltd, Titan Ltd, LG Electronics Inc., Fitbit Inc., Fossil Group Inc., Garmin Ltd, and Huawei Technologies Co. Ltd, among others.

Based on Product, the Standalone segment is predicted to grow at a significant CAGR during the forecast period

As per the Smartwatch Market Analysis, growing demand for smart devices for monitoring daily activities, is propelling growth of the segment.

Based on Application, the Healthcare segment is predicted to expand at a spectacular CAGR over the forecast period

Patients suffering different health problem are increasingly adopting smartwatches to track the number of calories burned and monitor their activities, are pushing segment’s growth.

Based on Region, the North America region is estimated to grow at a robust CAGR

Presence of the leading players such as Fitbit Inc., Fossil Group Inc., and, Apple Inc., technological advancements in smartwatches, rapid urbanization, growing popularity of fitness tracking devices and high per capita incomes, are some of the important factors augmenting the Smartwatch Market size in North America.

Key Development

• In September 2019, Apple Inc launched Apple Watch Series 5 which has an always on retina display that never sleeps. This smartwatch will make it easier to see time and other important information without tapping on the display., including industry-leading oilfield technology and expertise.

Market Segmentation

Segmentation by Product

• Extension
• Standalone
• Classical

Segmentation by Application

• Personal Assistance
• Wellness
• Healthcare
• Sports
• Others

Segmentation by Operating System

• WatchOS
• Android
• RTOS
• Tizen
• Others

Segmentation by Region

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

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