Smart Watch Market Size | Share | Trends | Growth Analysis Report 2028
The global smart watch market size is expected to reach USD 95.78 Billion in 2028 and register a CAGR of 19.1%, according to the latest report by Emergen Research. Key factors such as increasing public awareness about health, emergence of several market players, and technological advancements in smart watches are driving global market revenue growth.
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Some key highlights in the report:
Among the product type, the standalone segment is expected to register rapid revenue CAGR throughout the forecast period. Increasing demand for smart watches with SIM cards that can receive calls and send text messages without being connected to smartphones and high usage of standalone smart watches by people engaged in outdoor activities such as travelling or hiking are key factors boosting segment revenue growth.
Based on the operating system, the iOS segment is expected to account for significant revenue growth between 2021 and 2028 owing to factors such as rising disposable income, high adoption of iOS devices, and availability of advanced iOS operating systems such as RTOS or WatchOS for smart watches.
Among the application segments, the personal assistance segment is expected to account for largest revenue share over the forecast period. Rising health awareness, increasing adoption of smart devices and high usage of voice-recognition virtual assistants for monitoring daily activities are key factors boosting segment growth.
The smart watch market in North America is expected to account for largest revenue share throughout the forecast period. High revenue share is attributed to factors such as rising sales of consumer electronics such as smartphones, laptops, smart watches, increasing health awareness among consumers, technological advancements in smartwatches, and increasing prevalence of chronic diseases and diabetes.
Asia Pacific is expected to register rapid revenue growth between 2021 and 2028 owing to increasing per capita income, improvements in standard of living, rapidly growing consumer electronics sector, high demand for enhanced smart devices, and increasing adoption of healthy lifestyle.
Samsung Electronics Co. Ltd., Fossil Group Inc., Sony Corporation, LG Electronics Inc., Lenovo Group Limited, Fitbit Inc., Garmin Ltd., Apple Inc., Huawei Technologies, Motorola, and Polar Electro Oy are major players operating in the smart watch market.
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For this study, Emergen has segmented the global smart watch market based on product, operating system, application, and region:
Product Outlook (Revenue, USD Billion, 2018 - 2028)
Extension
Classical
Standalone
Operating System Outlook (Revenue, USD Billion, 2018 - 2028)
Android
Windows
iOS
Others
Application Outlook (Revenue, USD Billion, 2018 - 2028)
Wellness
Sports
Personal Assistance
Health
Others
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The global Smart Watch market research is carried out at the different stages of the business lifecycle from the production of a product, cost, launch, application, consumption volume and sale. The research offers valuable insights into the marketplace from the beginning including some sound business plans chalked out by prominent market leaders to establish a strong foothold and expand their products into one that's better than others.
In market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market’s growth?
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