Global Smartwatch Market Report, Size, Share, Trends and Forecast to 2021-2026

According to the latest report by IMARC Group, titled “Smartwatch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a value of US$ 19.6 Billion in 2020. Smartwatch is a portable digital device worn on the wrist to keep track of time and overall health. It is connected to smartphone applications and consists of a microchip programmed with an operating system. It is commonly available in standalone, hybrid and extension variants. Smartwatches aid in tracking fitness, providing notifications, navigation, receiving calls, playing music and displaying weather information. It includes pedometers, heart rate monitors, compass, speakers, thermometers and storage cards. In comparison to analog watches, smartwatches have a touchscreen interface and can be connected to the internet. As a result, it finds extensive application in sports, personal assistance, healthcare and wellness.

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The global smartwatch market is primarily being driven by the rising health consciousness among the masses. Smartwatches assist in tracking health parameters and nutritional intake of the user. Moreover, various technological advancements, such as the integration of artificial intelligence (AI) solutions for monitoring patient health, providing periodic reminders and tracking the performance of multiple users, are also favoring the market growth. Other factors, including significant growth in the consumer electronics industry, along with the widespread adoption of wireless, smart and connected devices, especially among the millennial population, are anticipated to positively impact the market growth. Looking forward, IMARC Group expects the market to grow at a CAGR of 18% during 2021-2026.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

• 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

• Zepp Health Corporation

Key Highlights of the Market Segmentation:

Breakup by Product:

• 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:

• North America

• Asia-Pacific

• Europe

• Latin America

• Middle East and Africa

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Key highlights of the report:

• Market Performance (2015-2020)

• Market Outlook (2021-2026)

• Market Trends

• Market Drivers and Success Factors

• Impact of COVID-19

• Value Chain Analysis

• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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