Smart Watch Market 2021: SWOT Analysis by Top Key Vendors, Demand and Forecast Research till 2028

Smart Watch Market size: USD 23.98 Billion in 2020, Market Growth: CAGR of 19.1%, Market Trends: Increasing demand for interconnected and smart devices

VANCOUVER, BC, CANADA, April 14, 2022 /EINPresswire.com/ -- The global smart watch market size is expected to reach USD 95.78 Billion in 2028 and register a CAGR of 19.1%, according to the latest report by Emergen Research. Key factors such as increasing public awareness about health, emergence of several market players, and technological advancements in smart watches are driving global market revenue growth.

A smart watch is a wearable computing device that is capable of performing various activities such as making/receiving calls, messaging, fitness tracking, internet connectivity, weather updates, GPS tracking when paired with smartphones. These smart watches are often used by fitness enthusiasts to keep a track of their exercises and daily activities and can also be used to play music or games and track health of the patient in real-time.

 The research report provides an in-depth evaluation of the Global Smart Watch Market and helps the market participants intensify their footprints in the industry. The report gives a detailed analysis concentrated on the critical market dynamics such as drivers, restraints, trends, and growth opportunities to assist businesses to prepare for any challenges they might encounter in the forecast period. It also offers a regional analysis of the global Smart Watch market to explore possible growth prospects available in different parts of the world. The competitive landscape is broadly evaluated alongside the company profiles of key players engaged in the global Smart Watch market. The report offers a detailed statistical evaluation and accurate market data, viz., market share, CAGR, gross margin, revenue, consumption, production, and sales.

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Some Key Highlights from the Report

Among the product type, the standalone segment is expected to register rapid revenue CAGR throughout the forecast period. Increasing demand for smart watches with SIM cards that can receive calls and send text messages without being connected to smartphones and high usage of standalone smart watches by people engaged in outdoor activities such as travelling or hiking are key factors boosting segment revenue growth.

Based on the operating system, the iOS segment is expected to account for significant revenue growth between 2021 and 2028 owing to factors such as rising disposable income, high adoption of iOS devices, and availability of advanced iOS operating systems such as RTOS or WatchOS for smart watches.

Among the application segments, the personal assistance segment is expected to account for largest revenue share over the forecast period. Rising health awareness, increasing adoption of smart devices and high usage of voice-recognition virtual assistants for monitoring daily activities are key factors boosting segment growth.

The smart watch market in North America is expected to account for largest revenue share throughout the forecast period. High revenue share is attributed to factors such as rising sales of consumer electronics such as smartphones, laptops, smart watches, increasing health awareness among consumers, technological advancements in smartwatches, and increasing prevalence of chronic diseases and diabetes.

 Top competitors of the Smart Watch Market profiled in the report include:

Samsung Electronics Co. Ltd., Fossil Group Inc., Sony Corporation, LG Electronics Inc., Lenovo Group Limited, Fitbit Inc., Garmin Ltd., Apple Inc., Huawei Technologies, Motorola, and Polar Electro Oy.

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For this study, Emergen has segmented the global smart watch market based on product, operating system, application, and region:

Product Outlook (Revenue, USD Billion, 2018 - 2028)

Extension

Classical

Standalone

Operating System Outlook (Revenue, USD Billion, 2018 - 2028)

Android

Windows

iOS

Others

Application Outlook (Revenue, USD Billion, 2018 - 2028)

Wellness

Sports

Personal Assistance

Health

Others

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Report Objectives

Examine the size of the global Smart Watch market based on the parameters of value and volume.

Accurately calculate the market shares, consumption, and other essential aspects of different segments of the global Smart Watch market.

Explore the underlying dynamics of the global Smart Watch market.

Highlight significant trends of the global Smart Watch market based on factors including, production, revenue, and sales.

Extensively profile top players of the global Smart Watch market and showing how they compete in the industry.

Study manufacturing processes and the costs, product pricing, and various trends associated with them.

Analyze the performance of different regions and countries in the global Smart Watch market.

Forecast the market size and share of all segments and regions in the global landscape.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
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