SmartWatch Market 2022
The global smart watch market is anticipated to attain a valuation of US$ 120 Bn by the end of 2031. The market for smartwatches in Asia Pacific is anticipated to have a dominant outlook throughout the forecast period.
The global SmartWatch Market is bound to grow on a robust note in the forecast period. The current scenario is such that the key stakeholders are into devising ASIC chips of their own to cater to their own distinctive products. As such, integration of hardware and software could happen in a better manner, that too, while keeping themselves distinctive from their counterparts. This would be the scene with semiconductors vertical going forward. Almost every industry vertical looks for sensors. Smartphones do incorporate sensors like ambient light sensor, accelerometer, temperature sensors, gyroscopes, and proximity sensors for keeping a track on the parameters. The sensors market is growing on an unabated note in IT & telecom, automotive, consumer electronics vertical and the trend is expected to continue even going forward.
Request For Report Sample Copy– https://www.persistencemarketresearch.com/samples/19378
This updated analysis on the smart watch market by skilled analysts at Persistence Market Research’s predicts the industry to surge at a CAGR of 19% and reach an estimated value of US$ 120 Bn by 2031.
Smart devices have gained immense popularity over the past decade and have seen a substantial rise in demand and sales alike. Smart watches are devices that are capable of performing multiple tasks and are equipped with sensors that allow them to monitor various health parameters such as heart rate and calorie consumption, which makes them a popular choice among health-aware people and tech-savvy people alike.
Increasing adoption of smart devices, rising demand from emerging economies, increasing disposable income, and rising technological proliferation are some of the major factors driving demand for smart watches.
Prime manufacturers are investing in expanding their product portfolios to meet rising demand for more advanced and feature-heavy smart watches that are capable of performing multiple tasks.
- In September 2021, Withings, a French consumer electronics company, announced the launch of its new cardiac-monitoring smartwatch with a luxury look. The ScanWatch Horizon is equipped with multiple heart health features.
- In November 2021, Motorola announced the launch of its smartwatch – Moto Watch 100. The watch is the first to run on Motorola’s proprietary Moto OS, which is claimed to be focused on health with a battery life of 14 days.
Request For Report Customization – https://www.persistencemarketresearch.com/request-customization/19378
Key Takeaways from Market Study
- Over the next ten years, the global smart watch market is estimated to rise at a CAGR of 19%.
- Demand for smart watches from the Asia Pacific region is expected to be highest among all regions.
- Rising proliferation of technology, increased demand for smart devices from emerging economies, and high demand from the millennial population are some of the major factors driving smart watch sales.
- By the end of the decade, market sales revenue is estimated to top US$ 120 Bn.
- Apple, Samsung, and Garmin are leading smart watch manufacturers in terms of sales and market share.
“Demand from economies such as India and China is expected to be majorly influential in shaping the smart watch market on a global scale,” says a Persistence Market Research analyst.
Competitive Landscape
The global market for smart watches has been identified as a fairly fragmented space due to the presence of a high number of market participants.
Some of the key market players included in the report are Fitbit Inc., Samsung Electronics Co. Ltd, Sony Corporation, Garmin Ltd., Fossil Group Inc., Huawei Technologies Co. Ltd., Xiaomi Corporation, Nokia Corporation (Withings), and LG Electronics Inc.
The above are identified as key suppliers of smart watches. These market participants are engaged in market expansion activities and are investing in expanding their product portfolios to boost their sales across various geographies.
More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a revised market research report on the global smart watch market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides an in-depth analysis of the market through different segments, namely, type, operating system, age group, price range, sales channel, and region. The report also provides supply and demand trends along with an overview of the parent market.
Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
For in-depth competitive analysis, buy now – https://www.persistencemarketresearch.com/checkout/19378
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
About us: Persistence Market Research
Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com