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The global smartwatch market reached a value of US$ 19.6 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 18% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
A smartwatch is a digital device worn on the wrist to give atomic clock accuracy. It is connected to a smartphone to provide notifications of e-mails, messages, and incoming calls. It includes several apps that offer additional functionality, such as displaying weather information, and maps, and listing stock prices. It can also be used to make phone calls and send and receive text messages. As it has pedometers and heart rate monitors to help users track their health, its demand is escalating around the world.
The rising adoption of smart and connected devices represents one of the key factors stimulating the market growth. In addition, the increasing penetration of the internet and boosting sales of smartphones are influencing the market positively. Moreover, the rising health consciousness among individuals due to the growing prevalence of chronic and lifestyle diseases is catalyzing the demand for wireless fitness devices like smartwatches across the globe. Smartwatches are connected to fitness apps to provide insightful information about the overall health of individuals and track their nutritional intake. Apart from this, the integration of artificial intelligence (AI) ensures smart diagnostics and monitoring of patient health. The increasing participation of individuals in sports and other physical activities, in confluence with the emerging trend of adventure recreation and wellness tourism, is also contributing to market growth. Furthermore, due to the mass outbreak of coronavirus disease (COVID-19), health institutes across the globe are studying the significance of smartwatches for monitoring patients. For instance, Karolinska Institutet (KI), a Sweden-based medical university, initiated research on the use of smartwatch electrocardiogram (ECG) tests to identify individuals with Long COVID.
IMARC Group provides an analysis of the key trends in each sub-segment of the global smartwatch market report, along with forecasts at the global, regional and country-level from 2021-2026. Our report has categorized the market based on product, operating system, application and distribution channel.
Breakup by Product:
Breakup by Operating System:
Breakup by Application:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Apple Inc., Fitbit Inc. (Alphabet Inc.), Fossil Group Inc., Garmin Ltd, Huawei Technologies Co. Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., Sony Corporation, Withings and Zepp Health Corporation.
|Base Year of the Analysis||2020|
|Segment Coverage||Product, Operating System, Application, Distribution Channel, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Apple Inc., Fitbit Inc. (Alphabet Inc.), Fossil Group Inc., Garmin Ltd, Huawei Technologies Co. Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., Sony Corporation, Withings and Zepp Health Corporation.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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