NEW YORK, Nov. 24, 2022 /PRNewswire/ — Data Bridge Market Research has recently published a Report, titled, “Smartwatch Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. Smartwatch market document is the best option to have most excellent level of market insights and knowhow of the market opportunities into the specific markets. This market analysis report covers a market data that provides a detailed analysis of the Smartwatch industry and its impact based on applications and different geographical regions. Additionally, this market report also gives a detailed overview about product specification, technology, product type and production analysis by taking into consideration other major factors such as revenue, cost, and gross margin. The global Smartwatch report is presented with full commitment by assuring the best possible service depending upon business requirements.
Data Bridge Market Research analyses that the smartwatch market was valued at USD 33,081.86 million in 2022 and is expected to reach USD 64,480.18 million by 2030, registering a CAGR of 8.70% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
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A smartwatch is a wearable computing device similar to a wristwatch or other time-keeping device. In addition to showing time, several smartwatches are Bluetooth-capable. This watch becomes a wireless Bluetooth adaptor and is capable of prolonging the capabilities of the wearer’s smartphone to the watch. The user can use this watch to initiate and answer phone calls from their mobile phone, get weather reports, listen to music, read email and text messages, dictate email and text messages, and ask a digital assistant.
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Several manufacturers have introduced many upgraded smartwatches with advanced health monitoring features such as a stress monitor, electrocardiograms, a calorie counter, blood oxygen and SpO2 sensors and many more. Numerous companies such as Fossil Group, Inc., Samsung, Noise, Fitbit and more are introducing smartwatches with advanced and upgraded features. For instance, Apple, Inc. launched the new Apple Series 7 smartwatch model in September 2021 that features many health monitoring functions, such as blood oxygen saturation, electrocardiogram (ECG) sensor, improved fall detection, native sleep tracking, and heart health monitoring.
- June 2022 – Garmin revealed one of the world’s first and new GPS running smartwatch 955, with a solar forerunner and charging 255 series. This latest addition to Garmin’s Forerunner range has become the preferred choice of runners worldwide. These are triathlon-ready smartwatches with training features developed for mid-level and professional runners and athletes.
- May 2022 – Huawei Consumer Business Group has announced several cutting-edge hardware products, including HUAWEI Mate Xs 2, HUAWEI WATCH GT 3 Pro, and HUAWEI WATCH FIT 2, HUAWEI WATCH D, HUAWEI Band 7 and HUAWEI S-TAG at the Huawei flagship product launch in 2022. This aims to streamline the daily lives of consumers.
Some of the major players operating in the Smartwatch market are:
- Apple Inc. (U.S.)
- Huawei Technologies Co., Ltd. (China)
- Fitbit Inc. (U.K.)
- Nike, Inc. (U.S.)
- Virtual-Realties, LLC (U.K.)
- Xiaomi (China)
- Sony Corporation (Japan)
- Garmin Ltd. (U.S.)
- Honeywell International Inc. (U.S.)
- LG Electronics (South Korea)
- SAMSUNG (South Korea)
- Motorola Solutions, Inc. (U.S.)
- ASUSTeK Computer Inc. (Taiwan)
- Michael Kors (U.S.)
- Polar Electro (Finland)
- Fossil Group, Inc. (U.S.)
- Google LLC (U.S.)
- TomTom International BV (Netherlands)
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Opportunities for Players:
- Increasing demand for health monitoring smartwatches
Wearable electronic product manufacturers such as Fitbit and Apple are presenting health-monitoring capabilities that appeal to older people and keep them up-to-date regarding their health status in real-time; smartwatches are witnessing a growth in new users, comprising the elderly. In contrast to Fitbit, which just encompassed a tool to diagnose sleep apnea in smartwatches, Apple Watch Series 4 comes with and a fall detection app and EKG monitor. People with diabetes use glucose monitoring which is anticipated to boost market growth. Furthermore, the business and L’Oreal worked together to make the first skin sensor that can detect UVB and UVA exposure with the help of smartwatch. These are some factors that will likely create ample and new opportunities for market growth in upcoming years.
The report includes six parts, dealing with:
- Basic information
- The Asia Smartwatch Market
- The North American Smartwatch Market
- The European Smartwatch Market
- Market entry and investment feasibility
- The report conclusion
All the research report is made by using two techniques that are Primary and secondary research. There are various dynamic features of the business, like client need and feedback from the customers. Before (company name) curate any report, it has studied in-depth from all dynamic aspects such as industrial structure, application, classification, and definition.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Smartwatch market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Smartwatch Market
Market Dynamics: Smartwatch Market
- Increasing usage of organic light emitting diodes (OLED) in smartwatch
The growing usage of organic light emitting diodes (OLED) displays increases the demand for the smartwatch, which is expected to drive the market’s growth rate. Organic light emitting diodes (OLED) displays provide an improved experience to the end user owing to their low power consumption and high image quality. This aids the manufacturers in producing shows in many sizes and shapes without compromising their quality and resolution.
- Increasing penetration rate of urbanization
Growing penetration rates of urbanization have increased the demand for the aesthetically appealing advanced products. These advanced products provide better experiences to consumers such as time schedules and several features in one device. This factor is anticipated to drive the need for smartwatches. Furthermore, the large millennial population has been adopting smartwatches owing to increased spending on luxury standards or tracking for their regular work hours.
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- This study offers the latest product news, trends, and updates from the industry’s leading players who have leveraged their market position.
- It also offers strategic plans and standards to arrive at informed business decisions adopted by the main players, thereby advocating your go to market strategies.
- In addition, it offers insights into the dynamics of customer behaviour that can help the organization better curate market strategies
- Usage of exclusive tailor-made tools along with primary research, secondary research and our in-house data model helps us in extracting the exact market numbers
- Mapping the customer in 3P grid comprising of Purpose, Planning and Positioning, thereby delivering a solution by keeping the prospecting client at the sweet spot
- The market research report includes all of the market’s valuable elements, such as sales growth, product pricing & analysis, growth opportunities, and recommendations for addressing market challenges
- The Smartwatch Industry Report covers all the primary mergers & acquisitions, alliances, and collaborations that have generated additional opportunities for market players or in some cases, challenges
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Key Industry Segmentation: Global Smartwatch Market
- Standalone and Classic/ Hybrid
- Personal Assistance and Safety
- Health/ Wellness
- Wear OS
- Watch OS
- Firefox OS
- Asteroid OS
- Sailfish OS
- Ubuntu Touch
- Apple S1
- 512 MB
- 1 GB
- 2 GB
- 3 GB
- 4 GB
- High-End Smartwatches
- Mid-End Smartwatches
- Low-End Smartwatches
Regional Analysis/Insights: Smartwatch Market
The countries covered in the smartwatch market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the global smartwatch market due to the increasing focus on technological advancements in digital wearable devices. Moreover, growth in the number of sales of toothbrush sterilizers through e-commerce platforms is another major factor that is fostering the market growth rate in this region.
Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2023-2030 due to the growing personal disposable income, westernization, modernization, rapid globalization. Moreover, surge in awareness about the profits of smartwatches, especially in nations such as India and China will likely to boost the market growth in this region.
Table of Content:
Section 01: executive summary
Section 02: scope of the report
Section 03: research methodology
Section 04: Introduction
Section 05: market landscape
Section 06: market sizing
Section 07: five forces analysis
Section 08: market segmentation by product type
Section 09: market segmentation by Application
Section 10: customer landscape
Section 11: market segmentation by end-user
Section 12: regional landscape
Section 13: Decision framework
Section 14: drivers and challenges
Section 15: market trends
Section 16: competitive landscape
Section 17: company profiles
Section 18: Appendix
To Check the Complete Table Of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-smartwatch-market
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