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Smartwatch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global smartwatch market is expected to exhibit a CAGR of XX% during 2022-2027. 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.

 

 
 

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Global Smartwatch Market Trends:

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smartwatch market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, operating system, application and distribution channel.

Breakup by Product:

 

 
 

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  • Extension
  • Standalone
  • Hybrid
     

Breakup by Operating System:

  • WatchOS
  • Android
  • Others
     

Breakup by Application:

  • Personal Assistance
  • Healthcare and Wellness
  • Sports
  • Others
     

Breakup by Distribution Channel:

  • Online Stores
  • Offline Stores
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
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$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Smartwatch Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Product
    6.1    Extension
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Standalone
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Hybrid
        6.3.1 Market Trends
        6.3.2 Market Forecast
7   Market Breakup by Operating System
    7.1    WatchOS
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Android
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Others
        7.3.1 Market Trends
        7.3.2 Market Forecast
8   Market Breakup by Application
    8.1    Personal Assistance
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Healthcare and Wellness
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Sports
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9   Market Breakup by Distribution Channel
    9.1    Online Stores
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Offline Stores
        9.2.1 Market Trends
        9.2.2 Market Forecast
10  Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Price Analysis
15  Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Apple Inc.
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Fitbit Inc. (Alphabet Inc.)
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
        15.3.3    Fossil Group Inc.
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    Garmin Ltd
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
           15.3.4.3 Financials
           15.3.4.4 SWOT Analysis
        15.3.5    Huawei Technologies Co. Ltd.
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
        15.3.6    LG Electronics Inc.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7    Samsung Electronics Co. Ltd.
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8    Sony Corporation
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
           15.3.8.4 SWOT Analysis
        15.3.9    Withings
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
        15.3.10    Zepp Health Corporation
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials

List of Figures

Figure 1: Global: Smartwatch Market: Major Drivers and Challenges
Figure 2: Global: Smartwatch Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Smartwatch Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Smartwatch Market: Breakup by Product (in %), 2021
Figure 5: Global: Smartwatch Market: Breakup by Operating System (in %), 2021
Figure 6: Global: Smartwatch Market: Breakup by Application (in %), 2021
Figure 7: Global: Smartwatch Market: Breakup by Distribution Channel (in %), 2021
Figure 8: Global: Smartwatch Market: Breakup by Region (in %), 2021
Figure 9: Global: Smartwatch (Extension) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Smartwatch (Extension) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Smartwatch (Standalone) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Smartwatch (Standalone) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Smartwatch (Hybrid) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Smartwatch (Hybrid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Smartwatch (WatchOS) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Smartwatch (WatchOS) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Smartwatch (Android) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Smartwatch (Android) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Smartwatch (Other Operating Systems) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Smartwatch (Other Operating Systems) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Smartwatch (Personal Assistance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Smartwatch (Personal Assistance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Smartwatch (Healthcare and Wellness) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Smartwatch (Healthcare and Wellness) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Smartwatch (Sports) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Smartwatch (Sports) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Smartwatch (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Smartwatch (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Smartwatch (Online Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Smartwatch (Online Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Smartwatch (Offline Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Smartwatch (Offline Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: North America: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: North America: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: United States: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: United States: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Canada: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Canada: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Asia-Pacific: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Asia-Pacific: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: China: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: China: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Japan: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Japan: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: India: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: India: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: South Korea: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: South Korea: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Australia: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Australia: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Indonesia: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Indonesia: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Others: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Others: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Europe: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Europe: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Germany: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Germany: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: France: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: France: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: United Kingdom: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: United Kingdom: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Italy: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Italy: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Spain: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Spain: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Russia: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Russia: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Others: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Others: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Latin America: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Latin America: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Brazil: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Brazil: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Mexico: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Mexico: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Others: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Others: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Middle East and Africa: Smartwatch Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Middle East and Africa: Smartwatch Market: Breakup by Country (in %), 2021
Figure 81: Middle East and Africa: Smartwatch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Global: Smartwatch Industry: SWOT Analysis
Figure 83: Global: Smartwatch Industry: Value Chain Analysis
Figure 84: Global: Smartwatch Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Smartwatch Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Smartwatch Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 3: Global: Smartwatch Market Forecast: Breakup by Operating System (in Million US$), 2022-2027
Table 4: Global: Smartwatch Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Smartwatch Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 6: Global: Smartwatch Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Smartwatch Market: Competitive Structure
Table 8: Global: Smartwatch Market: Key Players


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Key Questions Answered in This Report

The global smartwatch market was valued at US$ 30.73 Billion in 2021.

We expect the global smartwatch market to exhibit a CAGR of 20.44% during 2022-2027.

The growing number of health-conscious consumers, coupled with the rising demand for aesthetically appealing, multifunctional smartwatches, is primarily driving the global smartwatch market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing utilization of smart watches, owing to the growing need for accurately and regularly monitoring various health parameters, such as oxygen saturation and blood pressure levels.

Based on the product, the global smartwatch market has been divided into extension, standalone, and hybrid. Currently, extension smartwatch exhibits a clear dominance in the market.

Based on the operating system, the global smartwatch market can be categorized into watchOS, Android, and others. Among these, watchOS accounts for the majority of the global market share.

Based on the application, the global smartwatch market has been segregated into personal assistance, healthcare and wellness, sports, and others. Currently, healthcare and wellness segment holds the largest market share.

Based on the distribution channel, the global smartwatch market can be bifurcated into online stores and offline stores. Currently, offline stores exhibit a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global smartwatch market include 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.

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