Smartwatch Market Research Report
Global Smartwatch Market
According to the GMI Research
forecasts, the global smartwatch market is likely to experience high growth due
to the increasing health awareness among individuals and the growing adoption
of smartphones which has encouraged the end-users to opt for smartwatches over
the coming years.
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Smartwatches refers to the
intelligent devices that are worn on the wrist. The smartwatches are often
paired with smart devices such as smartphones through bluetooth, which acts as
an information gateways, and helps in notifying about the email or application
alerts to the users. The smartwatches are also used to track different type of
activities including fitness tracking, replying to messages & receiving
calls instantly, and connecting with people while performing different activities.
Increasing health awareness among
consumers along with the growing disposable income across the globe are the two
major drivers that are contributing to the growth of the global smartwatch
market size. In addition to this, the accelerating adoption of smartphones
and the availability of fast internet connectivity solutions are further
surging the growth of the market share in terms of revenue. The strong demand
for wireless sport and fitness devices is an emerging smartwatch market trend
that is opening new doors for the growth of the global smartwatch market. For example,
the smartwatches are being increasingly used by the swimmers, cyclers, runners
gym-goers, and athletes, as it has the ability to monitor daily activities, thus
allowing them to improve their performance level.
As per the smartwatch market
research, numerous initiatives taken by the various governments to increase IoT
technology are further driving the growth of the global smartwatch market. For example,
the US is an early adopter of niche technology and is offering technical
resources to support IoT with guidance on the standards development and
interoperability. The compatibility issues related to operating systems is a major
factor that is likely to hinder the market growth. In addition to this, the
high cost of the smartwatch devices and the lack of strong internet
connectivity, are further restraining the market growth. The market forecast
illustrates that the outbreak of the COVID-19 pandemic has negatively impacted
the market growth owing to the temporary shutdown of the manufacturing
factories, which in turn, is causing delays in the production process and is
one of the biggest smartwatch market threat.
Key Players of the Global
Smartwatch Market:
·
Apple Inc.
·
Samsung Electronics Co. Ltd
·
Titan Ltd
·
Garmin Ltd
·
Fitbit Inc.
·
Fossil Group Inc.
·
Huawei Technologies Co. Ltd
·
Sony Corporation
·
Lenovo Group Limited
·
Huami Corporation
·
LG Electronics Inc.
Smartwatch Market Segmentation:
Global Smartwatch Market Report
Segment by Product:
·
Extension
·
Standalone
·
Classical
Global Smartwatch Market Report Segment by Application:
·
WatchOS
·
Android
·
RTOS
·
Tizen
·
Others
Global Smartwatch Market Report
Segment by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
About GMI
Research
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