The tech-savy culture has been penetrating into each and every smaller aspect of life, and watches have been no different. Integrating multiple functionalities into the watches, various benefits could be harnessed and put to use for consumers. The 21st century has witnessed rapid changes in the demands from consumers from various devices. Watches serving inky the purpose for displaying time are no longer in demand.
MARKET SCOPE
The "Global Smartwatch Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smartwatch market with detailed market segmentation by product, operating system, and geography. The report provides key statistics on the market status of the leading smartwatch market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product, the global smartwatch market is segmented into extension, standalone, and classical.
- On the basis of operating system, the market is segmented into apple watchOS, Google WearOS, Lite OS, Amazefit OS, and others.
MARKET DYNAMICS
Drivers:
- The growing consumer preferences towards high-tech electronics and watches coupled with the demand for various fitness bands is anticipated to be the major drivers for the smartwatch market.
- Higher degree of connectivity provided by the smartwatches offer good opportunities to the players operating in the smartwatch market.
Restraints:
- Higher costs of these watches would challenge the growth of the smartwatch market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smartwatch market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smartwatch market in these regions.
IMPACT OF COVID-19 ON SMARTWATCH MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the smartwatch market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smartwatch market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smartwatch market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Amazfit
- Apple, Inc.
- Fitbit LLC.
- Fossil Group
- Garmin Ltd.
- Huawei Technologies Co. Ltd.
- Imoo
- LG Electronics
- SAMSUNG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.