DUBLIN--(BUSINESS WIRE)--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.
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 $99.84 billion in 2025 at a CAGR of 14%.
Companies Mentioned
- Apple Inc.
- Garmin
- Fitbit
- Motorola
- Sony Corporation
- Samsung Electronics
- LG Electronics
- Huawei Technologies Co. Ltd.
- Fossil Group Inc
- Google Inc.
- Lenovo Group Ltd
- Pebble
- Qualcomm
- TomTom International BV
- ASUSTeK Computer Inc.
- ConnectDevice Ltd
- Huami Corp
- Mobvoi Information Technology Company Ltd
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you within 3-5 working days of order.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider smart watch market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($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.
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.
For more information about this report visit https://www.researchandmarkets.com/r/tcihhy
