November 08, 2019
According to the latest study titled ‘Global Smartwatch Market: Analysis By Product Type (Extension, Standalone, Hybrid), By OS (WatchOS, WearOS, Tizen, RTOS), By Application (Fitness, Lifestyle), By Channel (Online, Offline), By Region, By Country (2019 Edition): World Market Review and Forecast to 2024 - By Region (North America, Europe, APAC, ROW), By Country (US, Canada, UK, Germany, France, Italy, China, Japan, India, Australia)’ available with Market Study Report LLC, the global smartwatch market is estimated to grow with a CAGR of 18.44% through 2024.
Smartwatch is a portable watch with advanced functionalities which amplifies its application in fitness and well-being. These watches record heart rate, monitor workout sessions, and tracks lap timings during various physical activities. Rising awareness among the young and middle-aged population regarding healthy lifestyle, increasing cases of chronic diseases, and growing disposable income are the major drivers of smartwatch market growth.
The study encompasses details about revenue shares and prevailing growth patterns for each segment, alongside challenges, drivers, trends, and restraints impacting the market growth. It thoroughly analyzes the competitive landscape of smartwatch market using SWOT analysis and Porter Five Force analysis.
Based on product type, smartwatch market is segmented into standalone, extension, and classic/hybrid. While speaking of operating system, the industry is divided into watchOS, wearOS, tizen, RTOS, and others. Speaking of distribution channel, the smartwatch market is split into online and offline.
Considering the geographical landscape, the smartwatch market is fragmented into four major regions, namely, Europe, North America, APAC, and rest of the world, with a key focus on countries, like Germany, US, UK, Canada, France, China, Italy, Japan, Australia, and India.
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As per the report, North America smartwatch market accrued largest regional share in 2019, on account of increasing tech-savvy population, rising incidences of diabetes and obesity, and growing popularity of smart fitness gadgets across the region.
Some of the vendors that operate in smartwatch market are Sony Corporation, Xiaomi Corporation, Fossil Group, Samsung, TomTom International, Fitbit, Garmin Ltd, Huawei Technologies Co. Ltd., and Apple.
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