In addition, it provides concise information on the long-term implications of COVID-19 pandemic for a stronger realization of the growth prospects. The shipment volume of smart wearables globally stood at 266.3 million units in 2020 and is projected to reach 776.23 million units by 2026, registering a CAGR of 19.48% during the period of 2021-2026. It is recommended for up to five users. Additionally, the growing smart wearable device market which generated revenues of around USD 16.2 billion in the year 2016 and is estimated to reach a value of around ⦠Business overview of the major companies is contained in the study. The global smartwatch market valued $10,223.9 million in 2017, is forecasted to witness a CAGR of 22.7% during 2018 - 2023. Data confirming the estimates for consumption value and volume of each application category during forecast period is included. Request Sample Copy of this Report @ https://www.express-journal.com/request-sample/355156. Being a dynamic and high-growth sector, the smartwatch market is also witnessing several partnerships and collaborations among regional and global players to develop advanced products and stay competent. What are the key factors driving Smartwatches market expansion? Growing companion device demand is expected to give impetus to demand for smartwatches. Health and fitness are unquestionably the most ideal paths to lead a complacent and happy life, forget about the fickle affluence. Updated On: March 27, 2019 Bilal Ahmad. Players in the smartwatch market have been increasingly investing in the design and development of economic products equipped with all basic smart features, which is suggestive of the potential growth of the classic smartwatch market during the forecast period. There are no major differences in the base product; however, features largely vary from one model to another, based on the application. iOS based smartwatches accounted for over 40% of the smartwatch market in 2017, while on the basis of application, smartwatches with personal assistance features had the highest shipment. 1 . © 2021 Prescient & Strategic Intelligence Private Limited. Market share captured by each product category is given. In 2013, around 2.1 million units of smartwatches were sold in the market, which marked the beginning of a new era in the mobile technology space. Growing concern about personal health & fitness and the rise in ⦠The report will be delivered in PDF format along with the printing rights. According to a new report just published on the smartwatch market from NextMarket Insights, the smartwatch market is forecast to reach a total of ⦠The Chinese market is the largest smartwatch market in the world. This can be majorly attributed to the introduction of next-generation smartwatches than can be used as an extension to smartphones or related devices. According to industry experts, the Smartwatches market is projected to register a yearly growth rate of XX% over the forecast timeframe (2020-2025). These smartwatches are increasingly becoming popular among consumers (especially in the age group 15‒35 years) who like to track and maintain their personal health and fitness schedules. Market share held by each application segment is also mentioned. Consumers, particularly the upper and the business class, have shown great interest in such hybrid smartwatches, as they find less interest in complex smartwatches requiring long charging hours and sound technical knowledge for their optimal usage. This factor is expected to further increase the sales of smartwatch market, particularly in the middle- and upper-middle-class segments during the forecast period. The worldwide market for Smartwatches Market is expected to grow at a CAGR of roughly x.x% over the next ten years and will reach US$ XX.X Mn in 2028, from US$ XX.X Mn in 2018, according to a new Market.us (Prudour Research) study. If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. A rise in the demand for wireless sports and fitness gadgets is predicted open up scope of development for the global smartwatches market. Global smartwatch market was estimated to be valued at USD 702.5 million in 2013 and is expected to grow at a rate of 67.6% during forecasted period. The global smartwatches market is segmented on the basis of type, application and geography. Smartwatches market Executive summary: This section emphasizes the key studies, market growth rate, competitive landscape, market drivers, trends, and issues in addition to the macroscopic indicators. In 2014, more than 85 companies sold nearly seven million smartwatches across the globe. With better access to technology, people are increasingly using advanced gadgets to maintain their fitness levels. An estimated 2.1 million units of smartwatches were manufactured and sold in the year 2013 with the new generation in mobile technology, and around 85 companies sold 7 million smartwatches across the world in 2014. The global market was estimated to be valued at USD 702.5 million in 2013, with ⦠is a hub for market intelligence products and services. Smartwatches Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016â2024 Category: Semiconductor & Electronics Report Format : PDF ⦠For instance, a third-generation Apple Watch Series 3 was launched by Apple Inc. in September 2017. According to a recent report published by Allied Market Research, titled, âSmartwatch Market By Product, Application, and Operating System: Global Opportunity Analysis and Industry Forecast, 2020-2027â, the global smartwatch market was valued at $20.64 billion in 2019, and is projected to reach $96.31 billion by 2027, registering a CAGR of 19.6% from 2020 to 2027. Smartwatch Market | Size, Share | Growth, Trends | Industry ⦠Thus, the growing awareness on personal health in people is a growth driver for the smartwatch market. They are usually used as a companion device and need to be paired with a smartphone through Bluetooth and near-field communication (NFC) among other technologies. Product landscape of the Smartwatches market is segmented into Apple Watch Kit , Android Wear , Tizen and Embedded OS, The application spectrum of the Smartwatches market is fragmented into Personal Assistance , Medical and Health , Fitness and Personal Safety, Leading players in the Smartwatches market are Apple , Polar , Samsung , Motorola/Lenovo , LG , Sony , Garmin , Pebble , Withings , Fitbit , TAG Heuer , Qualcomm , TomTom , Asus , inWatch , ZTE , Epson , Casio , Huawei , Weloop , SmartQ , Hopu , Geak and Truly.