Smart Watch Market To Rise At CAGR Of 19.1% By Top International Players, Business Growth, Emerging Technologies Till 2028

Rising prevalence of chronic diseases, diabetes, hypertension, increasing disposable income, increasing demand for AI-enabled smart watches, and rapid growth in the consumer electronics sector are key factors boosting market growth

Smart Watch Market Forecast to 2028”. The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Smart Watch market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.

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. In addition, factors such as rising per capita income, increasing incidences of various diseases, improving standard of living of people across the globe, and rapid growth in digitalization are boosting global market growth. Moreover, various market players are investing in research and development to develop advanced products with additional features such as sturdy and lightweight.

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The global Smart Watch market is expected to reach USD 95.78 billion in 2028 from its valuation of USD 23.98 billion in 2020 at a CAGR of 19.1% during the forecast period. Rapid technological advancements and economic growth are key factors expected to drive market growth over the forecast period. The report further provides a comprehensive analysis of the competitive landscape and provides a complete coverage with regards to company’s profiles, product portfolio, revenue generation, financial standing and market position.

Top Companies Operating in the Smart Watch Market and Profiled in the Report are:

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 are major players operating in the smart watch market.

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It further offers a comprehensive coverage of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, and partnerships, among others. Key strategic alliances for product development and advancements is expected to add traction to market growth going ahead. The report also covers an in-depth analysis of the key competitors of the market along with their growth strategies and business expansion plans.

Some key highlights in 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.

Regional analysis of the Smart Watch market includes analysis of the production and consumption ratio, supply and demand dynamics, regional trends and growth drivers, growth prospects, presence of key manufacturers and vendors, and market size and share in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The report further offers key insights into country wise analysis and major factors driving revenue growth of each regional market.

Detailed Regional Analysis Covers:

North America

Canada

Mexico

Europe

Germany

Italy

Rest of EU

Asia Pacific

India

China

Japan

South Korea

Rest of APAC

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

A.E

Rest of MEA

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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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Tags: Smart Watch Market Size, Smart Watch Market Share, Smart Watch Market Trend