Smartwatch Market
Global Smartwatch Market Size, Share & Trends Analysis Report by Product (Classic Smartwatch, Fitness Band Smartwatch, and Standalone Smartwatch), By Operating Systems (Android, iOS, Windows, and Other), By Applications (Medical/Health, Personal Assistance, Sports, and Other) Forecast Period 2021-2027 Update Available - Forecast 2024-2030
The global smartwatch market is anticipated to grow at a significant CAGR of 19.6% during the forecast period. Increasing internet penetration across the globe, the 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 the 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 global smartwatch market across the globe.
However, certain factors are hindering the growth of the market. Lack of a fully developed application system, limited battery life, and limitation of the size of power source are the major restraints in the growth of the Smartwatches market. Besides these restraints, a fall in the price of Smartwatches and cross-platform are estimated to develop numerous growth opportunities for the market during the forecast period.
A smartwatch is a wearable device that offers various features and benefits to its users and works as a companion device with smartphones. It requires pairing with smartphones using wireless technology such as Bluetooth and NFC. Smartwatches are widely used in tracking activities in sports, medical applications for monitoring heart rate and pulse rate. Furthermore, smartwatches also are used as GPS devices, fitness trackers, and accessing notifications from smartphones.
Impact of COVID-19 Pandemic on Global Smartwatch Market
The COVID-19 had impacted the sales of smartwatches due to the supply chain disruption. However, due to the shortage of medical equipments, these smartwatches are now getting used to monitor user's health. Now even oxygen levels in the user's blood can be monitored using these smartwatches, however, the sensors used for this application in smartwatches are not so precise and accurate still it can give a rough idea about the actual reading. The companies are innovating their products more to get a competitive edge in the market. ECG tests can now also be conducted using such watches. According to the study of Snyder's group, smartwatches had detected COVID-19 infection 70% times correctly before the actual diagnosis test. The Smartwatches are now not only restricted to connecting mobile phones but can provide health monitoring 24×7. This reason is increasing its demand globally which is expected to drive the smartwatch market significantly during the forecast period.
Segmental Outlook
The global smartwatch market is segmented based on product, operating systems, and applications. Based on the product, the market is segmented into classic smartwatch, fitness band smartwatch, and standalone smartwatch. Based on the operating systems, the market is segmented into android, iOS, windows, and other. Apart from this, by applications, the market is segmented into medical/health, personal assistance, sports, and others.
Global Smartwatch Market Share by Applications, 2020 (%)
Serge in the Demand of Fitness Trackers will Drive the Global Smartwatch Market
Serging growth of fitness trackers is expected to give rapid growth to the smartwatch market during the forecast period. Doctors are using this device to get the necessary information about their patients quickly and cost-effectively. This device is also helping them to track the recovery of their patients or what effects certain medicine is showing on them. The researchers are also using these devices to track the habits of the surveyed persons.
The smartwatches had also shown their significant importance in sports as they can track steps taken, running speed, calories gained or burned, and lots of more crucial data due to which its usage is rapidly increasing in the sports field as well. These smartwatches can now also track the deepness of sleep, for instance, Fitbit had added such features in their watches.
Regional Outlooks
The global smartwatch market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others, and the Rest of the World (the Middle East and Africa, and Latin America). North America is estimated to be the leading region in the global smartwatch market owing to the high adoption rate of smartwatches in the region due to the presence of a 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 the North American region.
Global Smartwatch Market Growth, by Region 2021-2027
Asia-Pacific is Expected to be Fastest Growing Global Smartwatch Market
The Asia Pacific is estimated to be the fastest-growing region during the forecasted period, increasing disposable incomes and increasing penetration of the internet and smartphones in the region are estimated to be the major factors that are driving the growth of the market. The market players associated here are continuously innovating their products even in the field of public safety measures due to which police and government departments are also adopting them.
Market Players Outlook
The key players of the smartwatch market Apple Inc., Fitbit Inc., Fossil Group Inc., Google Inc., Nike, Inc., Qualcomm Inc., Samsung electronics co. Ltd., Sony Group Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, Google had also launched Gboard app for OS smartwatches that can provide multiple input, suggestions, corrections, and languages. The companies are also making their products water resistance, so that these smartwatches can be used during swimming to detect sports parameters, for instance, Imagine Marketing Pvt. Ltd. and Huawei Device Co., Ltd. have such products in their portfolio.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smartwatch market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Smartwatch Market
• Recovery Scenario of Global Smartwatch Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Smartwatch Market by Product
5.1.1. Classic Smartwatch
5.1.2. Fitness Band Smartwatch
5.1.3. Standalone Smartwatch
5.2. Global Smartwatch Market by Operating Systems
5.2.1. Android
5.2.2. iOS
5.2.3. Windows
5.2.4. Others
5.3. Global Smartwatch Market by Applications
5.3.1. Medical/Health
5.3.2. Personal Assistance
5.3.3. Sports
5.3.4. Other
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Apple, Inc.
7.2. ASUSTek Computer, Inc.
7.3. CASIO Computer Co., Ltd.
7.4. Fitbit, Inc.
7.5. FOSSIL Group, Inc.
7.6. Garmin, Ltd.
7.7. Google, Inc.
7.8. Huawei Device Co., Ltd.
7.9. LENOVO
7.10. LG Electronics
7.11. Martian Notifier
7.12. eBuyNow eCommerce, Ltd.
7.13. Neptune Computer, Inc.
7.14. Nike, Inc.
7.15. Withings S.A.
7.16. Polar Electro Oy
7.17. Qualcomm Technologies, Inc.
7.18. Sony Group Corp.
7.19. Samsung Electronics Co., Ltd.
7.20. LVMH Swiss Manufactures S.A.
7.21. Timex Group USA, Inc.
7.22. Tomtom International B.V.
7.23. Imagine Marketing Pvt. Ltd.
1. GLOBAL SMARTWATCH MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
2. GLOBAL CLASSIC SMARTWATCH MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL FITNESS BAND SMARTWATCH MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL STANDALONE SMARTWATCH MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL SMARTWATCH MARKET RESEARCH AND ANALYSIS BY OPERATING SYSTEMS, 2020-2027 ($ MILLION)
6. GLOBAL ANDROID SMARTWATCH MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL IOS SMARTWATCH MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL WINDOWS SMARTWATCH MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL OTHER SMARTWATCH MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL SMARTWATCH MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2020-2027 ($ MILLION)
11. GLOBAL SMARTWATCH FOR MEDICAL/HEALTH MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
12. GLOBAL SMARTWATCH FOR PERSONAL ASSISTANCE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL SMARTWATCH FOR SPORTS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL SMARTWATCH FOR OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL SMARTWATCH MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN SMARTWATCH MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
17. NORTH AMERICAN SMARTWATCH MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
18. NORTH AMERICAN SMARTWATCH MARKET RESEARCH AND ANALYSIS BY OPERATING SYSTEMS, 2020-2027 ($ MILLION)
19. NORTH AMERICAN SMARTWATCH MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2020-2027 ($ MILLION)
20. EUROPEAN SMARTWATCH MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. EUROPEAN SMARTWATCH MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
22. EUROPEAN SMARTWATCH MARKET RESEARCH AND ANALYSIS BY OPERATING SYSTEMS, 2020-2027 ($ MILLION)
23. EUROPEAN SMARTWATCH MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC SMARTWATCH MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC SMARTWATCH MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
26. ASIA-PACIFIC SMARTWATCH MARKET RESEARCH AND ANALYSIS BY OPERATING SYSTEMS, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC SMARTWATCH MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2020-2027 ($ MILLION)
28. REST OF THE WORLD SMARTWATCH MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
29. REST OF THE WORLD SMARTWATCH MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2020-2027 ($ MILLION)
30. REST OF THE WORLD SMARTWATCH MARKET RESEARCH AND ANALYSIS BY OPERATING SYSTEMS, 2020-2027 ($ MILLION)
31. REST OF THE WORLD SMARTWATCH MARKET RESEARCH AND ANALYSIS BY APPLICATIONS, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL SMARTWATCH MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL SMARTWATCH MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL SMARTWATCH MARKET, 2021-2027 (%)
4. GLOBAL SMARTWATCH MARKET SHARE BY PRODUCT, 2020 VS 2027 (%)
5. GLOBAL CLASSIC SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
6. GLOBAL FITNESS BAND SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL STANDALONE SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
8. GLOBAL SMARTWATCH MARKET SHARE BY OPERATING SYSTEMS, 2020 VS 2027 (%)
9. GLOBAL ANDROID SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL IOS SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
11. GLOBAL WINDOWS SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL OTHERS SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL SMARTWATCH MARKET SHARE BY APPLICATIONS, 2020 VS 2027 (%)
14. GLOBAL MEDICAL/HEALTH USE OF SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
15. GLOBAL PERSONAL ASSISTANCE USE OF SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
16. GLOBAL SPORTS USE OF SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
17. GLOBAL OTHER USE OF SMARTWATCH MARKET REGION BY GEOGRAPHY, 2020 VS 2027 (%)
18. GLOBAL SMARTWATCH MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
19. NORTH AMERICAN SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
20. UNITED STATES SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
21. CANADA SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
22. EUROPEAN SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
23. UK SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
24. GERMANY SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
25. SPAIN SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
26. FRANCE SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
27. ITALY SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
28. ROE SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
29. ASIA-PACIFIC SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
30. INDIA SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
31. CHINA SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
32. JAPAN SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
33. SOUTH KOREA SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
34. REST OF ASIA-PACIFIC SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
35. REST OF THE WORLD SMARTWATCH MARKET SIZE, 2020-2027 ($ MILLION)
