Summary - A new market study, titled “Global Smartwatch Market Research and Forecast 2017-2022” has been featured on WiseGuyReports.
A smartwatch is a wearable device that offers various features and benefits to its users and works as companion devices with the smartphones. It requires pairing with the smartphones using wireless technology such as Bluetooth and NFC. Smartwatches are widely used in tracking activities in sports, medical application for monitoring heart rate and pulse rate. Furthermore, smartwatches also be used as GPS devices, fitness tracker and accessing notification from smartphones. The global Smartwatches market is anticipated to grow with a CAGR of 21% during the period 2017-2022.
Increasing internet penetration across the globe, growing trend of smartphones and growth in IoT technologies are estimated to be the key motivators of the market. Moreover, technological advancement, changing the technological preference of young population and increasing interest of multinational companies in the smartwatch market are also estimated to be the major factors that are contributing significantly towards the growth of the smartwatch market across the globe.
However, there are certain factors that are hindering the growth of the market. Lack of fully developed application system and limited battery life and limitation on the size of power source are the major constraints in the growth of the Smartwatches market. Besides these constraints, fall in the price of Smartwatches and cross-platform are estimated to develop numerous growth opportunities for the market during the forecast period.
Global Smartwatches market is studied in detail on the basis of critical criteria such as products, operating systems and applications. On the basis of the product, the market is segmented into classic smartwatch, fitness band smartwatch, and standalone smartwatch. On the basis of the operating systems, the market is bifurcated into android, IOS, windows and others. And on the basis of the applications, smartwatch market is segmented into medical/ health, personal assistance, sports, wellness and others.
Geography Insights
On the basis of the geography, the smartwatch market is segmented into North America, Europe, Asia Pacific and Rest of the World. North America is estimated to be leading region in the global smartwatch market owing to the high adoption rate of smartwatches in the region due to the presence of health conscious and tech-savvy population. Further, high purchasing power is also estimated to be the major factor driving the growth of the smartwatches market in North America region. The Asia Pacific is estimated to be the fastest growing region during the forecasted period, increasing disposable incomes and increasing penetration of internet and smartphones in the region are estimated to be the major factors that are driving the growth of the market.
Competitive Insights
Key vendors of the smartwatch market are Alcatel, Apple Inc., Asus, Casio, Connected devices Ltd., Fitbit, Fossil, Garmin, Google inc., LG, Martian watches, Meta watch Ltd., Motorola, Neptune computer inc., Nike, inc., Pebble, Qualcomm inc., Samsung electronics co. ltd., Sony Corporation, TAG Heuer, Timex group, Tissot and so on. In 2017, Apple launched a new apple series 3 smartwatch featuring OS4, improved exercise tracking system, and decent battery life than series2.
OMR Report Covers:
- Comprehensive research methodology of global smartwatch market
- This report also includes detailed and extensive market overview with analyst insights & key market trends.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global smartwatch market
- Insights about market determinants which are stimulating the global smartwatch market
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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Global Smartwatch Market was valued US$ 10.22 Bn in 2017 and is expected to reach US$ 56.32 Bn by 2026, at a CAGR of 23.78 % during a forecast period.The smartwatch market is segmented into the price range, product, operating system, application, and region.In terms of price range, smartwatch market is segmented into high-end smartwatches, mid-end smartwatches, and low-end smartwatches.
Based on the product segment, smartwatch market is classified into extension smartwatch, classic smartwatch, and standalone smartwatch.
A further operating system, smartwatch market is divided into android, IOS, and windows.
In terms of application, smartwatch market is classified into personal assistance, wellness, sports, medical, and others.Based on regions, the global smartwatch market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.Request Report For Sample: https://www.trendsmarketresearch.com/report/sample/11115A smartwatch is a wrist-worn wearable device and provides functionalities far beyond those of a traditional wristwatch.In terms of product, extension smartwatches are contributing the highest revenue to the global market due to innovative applications such as tracking, alerts, and connectivity, which are compatible with extension smartwatches.Based on price range, high-end smartwatches accounted for approximately 90% of the overall market share due to the growing demand for wearable technology and the entry of a considerable number of established players are expected to drive the market.
Limited battery life is expected to be a restraint for market growth, with a trade-off between the battery life and overall performance.The major driving factor of smartwatch devices is they are particularly useful for health-conscious users aiming for fitness tracking and health-related purposes.
Additionally, smartwatch devices delivering real-time speed, time and distance information when the user is on a walk or run is boosting the smartwatch market growth.Limited battery life and its effect on overall performance are expected to restrain the global smartwatch market growth.On the basis of region, North America is the large market for smartwatches in terms of revenue, adoption of high-end smartwatches due to the presence of tech-savvy and health-conscious users in the North America region.
The Smartwatch Market 2021 research report gives emerging industry data, global segments and regional outlook.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the smartwatch market include Apple Inc., Fitbit Inc., Garmin, Huawei Technologies, Fossil Group, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, TomTom International, Amazon.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Smartwatch Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/smartwatch-market/download-sampleMarket DynamicsFactors such as rising health awareness, together with growing technology adoption, are predicted to drive the smartwatch market size.
Smartwatches are the most known type of wearable device.
