According to the latest report by IMARC Group, titled “Smartwatch Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the global smartwatch market reached a value of US$ 19.6 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 18% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Smartwatch is a portable digital device worn on the wrist to keep track of time and overall health. It is connected to smartphone applications and consists of a microchip programmed with an operating system. It is commonly available in standalone, hybrid and extension variants. Smartwatches aid in tracking fitness, providing notifications, navigation, receiving calls, playing music and displaying weather information. It includes pedometers, heart rate monitors, compass, speakers, thermometers and storage cards. In comparison to analog watches, smartwatches have a touchscreen interface and can be connected to the internet. As a result, it finds extensive application in sports, personal assistance, healthcare and wellness.
The global smartwatch market is primarily being driven by the rising health consciousness among the masses. Smartwatches assist in tracking health parameters and nutritional intake of the user. Moreover, various technological advancements, such as the integration of artificial intelligence (AI) solutions for monitoring patient health, providing periodic reminders and tracking the performance of multiple users, are also favoring the market growth. Other factors, including significant growth in the consumer electronics industry, along with the widespread adoption of wireless, smart and connected devices, especially among the millennial population, are anticipated to positively impact the market growth.
Smartwatch Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global smartwatch market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Apple Inc.
Fitbit Inc. (Alphabet Inc.)
Fossil Group Inc.
Garmin Ltd
Huawei Technologies Co. Ltd.
LG Electronics Inc.
Samsung Electronics Co. Ltd.
Sony Corporation
Withings
Zepp Health Corporation
Key Market Segmentation:
The report has segmented the global smartwatch market on the basis of product, operating system, application, distribution channel and region.
Breakup by Product:
Extension
Standalone
Hybrid
Breakup by Operating System:
WatchOS
Android
Others
Breakup by Application:
Personal Assistance
Healthcare and Wellness
Sports
Others
Breakup by Distribution Channel:
Online Stores
Offline Stores
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/smartwatch-market
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Industry Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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