$80+ Bn Worldwide Smartwatch Market is Expected to Grow at a CAGR of over 18.8% During 2022-2028 | Vantage Market Research

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WASHINGTON, May 02, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Smartwatch Market finds that increasing demand for wireless fitness and sports devices as well as increasing investment in methods to develop smart technologies, are factors that influencing the growth of Smartwatch Market.

The total Global Smartwatch Market is estimated to reach USD 80.1 Billion by the year 2028. The Global Market revenue for the year 2021 USD 28.5 Billion and expected to grow at a Compound Annual Growth Rate (CAGR) of 18.8%, states Vantage Market Research, in a report, titled “Smartwatch Market Size, Share & Trends Analysis Report by Application (Personal Assistance, Wellness, Healthcare, Sports), by Operating System (Watch OS, Android, Real-Time Operating System, Tizen), by Products (Extension, Standalone, Classical), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Market Dynamics:

Drivers:

Technological advancement

Digitalization and development in the technology have transformed the healthcare sector. A number of wearables are used for monitoring the wide array of diseases such as heart diseases, cardiovascular diseases and others. Smart watches have gained a huge attention in the diagnosis, monitoring, and treatment of respiratory diseases. According to the National Health Service in 2015, majorly all Americans is constantly connected via high bandwidth to a vast network of data and sophisticated digital platforms The global smart watches market is majorly driven by increasing prevalence of cardiac & cardiovascular diseases such as atrial fibrillation (AFib), hypertension and diabetes.

Heart scan devices are used in the monitoring, and diagnosis of different heart diseases and complications. The global smart watches market is majorly driven by increasing prevalence of cardiac diseases, rising healthcare expenditure, and increasing geriatric population.

Key Insights & Findings from the Report:

  • According to our primary respondents’ research, the Smartwatch market is predicted to grow at a CAGR of roughly 18.8% during the forecast period.
  • The Smartwatch market was estimated to be worth roughly USD 28.5 Billion in 2021 and is expected to reach USD 80.1 Billion by 2028; based on primary research.
  • On the basis of region, Asia Pacific is projected to dominate the worldwide Smartwatch market.

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Segmentation of the Global Smartwatch Market:

  • Application
    • Personal Assistance
    • Wellness
    • Healthcare
    • Sports
    • Others
  • Operating System
    • Watch OS
    • Android
    • Real-Time Operating System
    • Tizen
    • Others
  • Products
    • Extension
    • Standalone
    • Classical
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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Rising Demand in Healthcare

Across the globe, the number of non-surgical procedures performed is increasing year over year. With the rise of highly effective and technologically advanced medical devices including smart watches with long term functionality, carrying out diagnosis of number of diseases become very easy. Thus, driving the global smart watches market.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

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The Report on Smartwatch Market Highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

Asia Pacific Holds Maximum Market Share

Asia Pacific is expected to dominate the growth of Smartwatch Market in 2021. The major driving factors for the market are growing consumer electronics industry, coupled with a rapid rise of smartwatch market vendors, presence of major players engaged in market, and large base of population which is increasing the demand for smart watch in the region. Ultimately, driving the market over the forecast period.

List of Prominent Players in the Smartwatch Market:

  • Apple Inc.
  • Fitbit Inc.
  • Garmin
  • Huawei Technologies
  • Fossil Group
  • Motorola
  • Sony Corporation
  • Samsung Electronics
  • LG Electronics
  • Tom Tom International
  • Amazon

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on "Smartwatch Market Size, Share & Trends Analysis Report by Application (Personal Assistance, Wellness, Healthcare, Sports), by Operating System (Watch OS, Android, Real-Time Operating System, Tizen), by Products (Extension, Standalone, Classical), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/smartwatch-market-967870

Recent Developments:

April 2021: Casio Computer Co. Ltd announced the release of the GSW-H1000, a G-SQUAD PRO smartwatch powered by Wear OS by Google and packed with functions designed to assist users in achieving their activity goals and utilizing fitness tracking features. The GSW-H1000 is oriented toward usage in various athletic settings, including running, indoor workouts, road biking, swimming, surfing, and snowboarding.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?
  • Which are the top five players of the Smartwatch Market?
  • How will the Smartwatch Market change in the upcoming six years?
  • Which application and product will take a lion’s share of the Smartwatch Market?
  • What is the Smartwatch market drivers and restrictions?
  • What will be the CAGR and size of the Smartwatch Market throughout the forecast period?           

This market titled “Smartwatch Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

ParameterDetails
Market Size Provided for Years2016-2028
Base Year2021
Historic Years2016-2020
Forecast Years2022-2028
Segments Covered
 • Application
     • Personal Assistance
     • Wellness
     • Healthcare
     • Sports
     • Others

 • Operating System
     • Watch OS
     • Android
     • Real-Time Operating System
     • Tizen
     • Others

 • Products
     • Extension
     • Standalone
     • Classical

 • Region
     • North America
     • Europe
     • Asia Pacific
     • Latin America
     • Middle East & Africa

Region & Counties Covered
 • North America
     • U.S.
     • Canada
     • Mexico

 • Europe
     • U.K
     • France
     • Germany
     • Italy
     • Spain
     • Rest Of Europe

 • Asia Pacific
     • China
     • Japan
     • India
     • South Korea
     • South East Asia
     • Rest Of Asia Pacific

 • Latin America
     • Brazil
     • Argentina
     • Rest Of Latin America

 • Middle East & Africa
     • GCC Countries
     • South Africa
     • Rest Of Middle East & Africa

Companies Covered
 • Apple Inc.

 • Fitbit Inc.

 • Garmin

 • Huawei Technologies

 • Fossil Group

 • Motorola

 • Sony Corporation

 • Samsung Electronics

 • LG Electronics

 • Tom Tom International

 • Amazon

Report CoverageMarket growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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