As per the analysis report conducted by GMI Research, the smartwatch market is estimated over USD 20 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 16.50% over the forecast period (2020-2027).

Smartwatches are intelligent devices that are worn on the wrist. Most of the smartwatches are paired with smartphones via bluetooth, which function as information gateways, so that phone notifications, email, or application alerts are easily shared with the user. The smartwatches are also used to track various activities such as fitness tracking, reply to messages & receive calls instantly, and the ability to connect while doing activities. Smartwatch consists of sensors, a central processing unit (CPU), battery, wireless transmitter, and display. Nowadays, technology has been evolving at a very fast rate aiding towards easing the life of the human being.

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Rising health awareness among consumers and increasing disposable income across the globe acts as major factors that are driving the growth of the global smartwatch market. Moreover, the increasing adoption of smartphones and the availability of fast internet connectivity solutions are further propelling the growth of the global smartwatch market. Nowadays, the increasing demand for wireless sport and fitness devices is also contributing towards the market growth of the global smartwatch market. For instance, the smartwatches are being preferred by the cyclers, runners gym-goers, swimmers, and athletes, owing to its ability to monitor daily activities, thereby helping in enhancing their performance level.

Various initiatives taken by the different governments to boost IoT technology are also paving the way for the global smartwatch market. For instance, the US is an early adopter of niche technology and is providing technical resources to support IoT with guidance on the standards development and interoperability. The compatibility issues related to operating systems is likely to hinder the growth of the global smartwatch market. Furthermore, the high cost associated with the smartwatch devices, along with a lack of strong internet connectivity, also acts as a challenge in the growing demand of the market. The COVID-19 pandemic will have an adverse impact on the market due to the temporary shutdown of the manufacturing factories, which in turn, is causing delays in the production process. However, the market is expected to significantly grow from 2021 onwards.

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Based on the product, the standalone segment is expected to grow at a higher CAGR during the forecast period owing to its advanced features such as wireless operations, sim card acceptance, and access capability for the internet. Moreover, the increasing demand for the intelligent based device for monitoring the daily activities is further boosting the market growth of the segment.

On the basis of application, the health segment is expected to grow at a higher CAGR during the forecast period. The health-conscious people and the people having certain diseases are largely opting for these smartwatches to monitor their physical activities and track the number of calories burned in a day.

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Based on the region, the North America region is expected to grow at a higher CAGR during the forecast period owing to the rapid developments in wireless network infrastructure in the US. Furthermore, other factors such as early adoption of technology and emergence of built-in LTE smartwatches is supporting the growth of the market in this region.

Various key players in the market include Apple Inc., Samsung Electronics Co. Ltd, Titan Ltd, Garmin Ltd, Fitbit Inc., Fossil Group Inc., Huawei Technologies Co. Ltd, Sony Corporation, Lenovo Group Limited, Huami Corporation, and LG Electronics Inc., among others.

Key Development:

• • In September 2019, Apple Inc launched Apple Watch Series 5, having an Always-on Retina display that never sleeps. This smartwatch will make it easier to see time and other important information without tapping on the display.

The global Smartwatch market has been segmented on the basis of Product, Application, Operating System and key regions. Based on Product, the market is segmented into Extension, Standalone, and Classical. Based on Application, the market is segmented into Personal Assistance, Wellness, Healthcare, Sports, and Others. Based on Operating System, the market is segmented into WatchOS, Android, RTOS, Tizen, and Others.

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Key questions answered in this research report:

• • At what pace is Global Smartwatch Market? What will be growth trend in future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Smartwatch Market?
  • What are the various application areas and how they are poised to grow?
  • Which Product generated maximum revenues in 2019 and identify the most promising Product during the forecast period?
  • What are the various Application areas of global Smartwatch market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Smartwatch Market by Product

• • Extension
  • Standalone
  • Classical

Global Smartwatch Market by Application

• • Personal Assistance
  • Wellness
  • Healthcare
  • Sports
  • Others

Global Smartwatch Market by Operating System

• • WatchOS
  • Android
  • RTOS
  • Tizen
  • Others

Global Smartwatch Market by Region

• • North America Smartwatch Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Application
    • By Operating System
    • US Market All-Up
    • Canada Market All-Up
  • Europe Smartwatch Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Application
    • By Operating System
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Smartwatch Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Application
    • By Operating System
    • China Smartwatch Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Smartwatch Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Application
    • By Operating System
    • Brazil Smartwatch Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Smartwatch (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Apple Inc.
  • Samsung Electronics Co. Ltd
  • Titan Ltd
  • Garmin Ltd
  • Fitbit Inc.
  • Fossil Group Inc.
  • Huawei Technologies Co. Ltd
  • Sony Corporation
  • Lenovo Group Limited
  • Huami Corporation
  • LG Electronics Inc