Dublin, May 28, 2021 (GLOBE NEWSWIRE) -- The "Smart Watch Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global smart watch market.
This report focuses on the smart watch market which is experiencing strong growth. The report gives a guide to the smart watch market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
The global smart watch market is expected to grow from $49.74 billion in 2020 to $59.02 billion in 2021 at a compound annual growth rate (CAGR) of 18.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $99.84 billion in 2025 at a CAGR of 14%.
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Where is the largest and fastest growing market for the smart watch? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Smart Watch market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider smart watch market, and compares it with other markets.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The smart watch market section of the report gives context. It compares the smart watch market with other segments of the smart watch market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, smart watch indicators comparison.
Major players in the smart watch market are Apple Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, Huawei Technologies Co. Ltd., Fossil Group Inc and Google Inc.
The smart watch market consists of sales of smart watches and related services that are used in medical, sports, gaming, and personal assistance. A smart watch is a computer-based wristwatch that provides many other features besides timekeeping. Examples include monitoring the heart rate, tracking the activity, and delivering day-round reminders.
The increasing health awareness among consumers is a key factor driving the growth of the smartwatch market. Through a smartwatch, the user can take the necessary precautions in advance about health. The doctors can easily monitor the health status of patients remotely and can maintain, prescribe or treat them as required. For Example, the new Apple watch series 5 is capable of tracking heart rate, nervous system, emergency or inactivity warnings, and health events. According to the Rock Health 2019 study, the wearable use was around 33% for 2018 and 2019, while, the digital health tracking increased steadily from 38% in 2018 to 42% in 2019. Increasing number of people are using digital tools such as smartwatch to address critical health needs rather than just exercise tracking. Therefore, the increase in health awareness among the consumer is expected to drive the smartwatch market.
The high cost of smartwatches is expected to hamper the growth of the smartwatches market. The accuracy required for designing and development of various devices including sensors, display, and small-sized semiconductor equipment with a core diameter of 10 micro meters along with raw materials requires a high range of expertise and high initial costs. Around 42 million smart watches were shipped in the first half of the year 2020. Therefore, high cost smartwatches are expected to hinder the growth of the smartwatches market.
The smart watch market covered in this report is segmented by product into extension, standalone, classical and by application into personal assistance, wellness, healthcare, sports, others.
Internet of things (IoT) driven smart watches is highly preferred choice of smart watches. Smart watches connected to the internet offer a wide range of features such as time, health monitoring, and fitness tracking, receives calls and messages, entertainment, cardless payments, and connectivity to other IoT devices to improve the quality of the user's life. With increasing consumer's interests towards health and fitness, convenience in day to day activities and smart homes, wearable IoT devices such as smart watches offer various features. The global smart watch shipments rise by 42% annually from 10 million units in 2018 to 14.2 million units in 2019.
In November 2019, Alphabet Inc., the parent company of Google, acquired smart watch maker, Fitbit, Inc. for a deal amount of US$ 2.1 billion. Alphabet said that the acquisition helps them in the advancement of its smart watch software, Wear OS. Fitbit, Inc. is an American company that makes fitness bands, smart watches, and accessories which helps in tracking footsteps, exercises, heart rate, and weight.
Key Topics Covered:
1. Executive Summary
2. Smart Watch Market Characteristics
3. Smart Watch Market Trends and Strategies
4. Impact of COVID-19 on Smart Watch
5. Smart Watch Market Size and Growth
5.1. Global Smart Watch Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Smart Watch Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Smart Watch Market Segmentation
7. Smart Watch Market Regional and Country Analysis
7.1. Global Smart Watch Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Smart Watch Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Smart Watch Market
9. China Smart Watch Market
10. India Smart Watch Market
11. Japan Smart Watch Market
12. Australia Smart Watch Market
13. Indonesia Smart Watch Market
14. South Korea Smart Watch Market
15. Western Europe Smart Watch Market
16. UK Smart Watch Market
17. Germany Smart Watch Market
18. France Smart Watch Market
19. Eastern Europe Smart Watch Market
20. Russia Smart Watch Market
21. North America Smart Watch Market
22. USA Smart Watch Market
23. South America Smart Watch Market
24. Brazil Smart Watch Market
25. Middle East Smart Watch Market
26. Africa Smart Watch Market
27. Smart Watch Market Competitive Landscape and Company Profiles
27.1. Smart Watch Market Competitive Landscape
27.2. Smart Watch Market Company Profiles
27.2.1. Apple Inc.
188.8.131.52. Products and Services
184.108.40.206. Financial Performance
220.127.116.11. Products and Services
18.104.22.168. Financial Performance
22.214.171.124. Products and Services
126.96.36.199. Financial Performance
188.8.131.52. Products and Services
184.108.40.206. Financial Performance
27.2.5. Sony Corporation
220.127.116.11. Products and Services
18.104.22.168. Financial Performance
28. Key Mergers and Acquisitions in the Smart Watch Market
29. Smart Watch Market Future Outlook and Potential Analysis
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright and Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/dz91uh
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