May 04, 2020
According to the research report titled ‘Global Kids smart watch Market Size study, by Type (Integrated, Stand-alone), by Application (Individual Use, Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, worldwide kids smartwatch market amassed USD 9.2 billion in 2018 and is expected to register a growth rate of 16.44% between 2019 and 2026.
For the record, a smartwatch is an advanced wristwatch that operates as a portable media player and is integrated with Bluetooth wireless technology as well as USB (universal serial bus) headsets.
Advancements in smartwatch displays have allowed for improved user experience, which in turn is the global kids smartwatch market growth. Also, integration of GPS solutions has enabled caretakers and parents to easily track the location of the children. Increasing disposable income and rising child safety concerns are fueling the product adoption. As per 2015 survey by International Centre for Missing & Exploited Children, approximately 8 million children are reported missing every year across the globe. Surge in number of child missing cases and increased pervasiveness of child abuse have impelled the demand for kids smartwatches.
Moreover, technological advancements in smartwatches have not only allowed for GPS tracking, but also enabled additional safety features such as child location and activity tracking, messaging and voice call features, aiding parents to stay connected with their child. However, rising concerns regarding data security and privacy may act as a restraining factor for kids smartwatch market growth.
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Based on regional scope, North America market is anticipated to grow modestly over the forecast period, primarily due to rising cases of child kidnappings & missing’s, high per capita income and availability of advanced products.
Parallelly, Asia-Pacific kids smartwatch industry is poised to witness robust growth through 2026. Rising sales of wearables and high spending power are swaying the business dynamics in Asia-Pacific.
The prominent companies in global kids smartwatch market are LG Electronics Inc., Doki Technologies, Omate, Vtech, hereO, ZTE Corp., Qihoo 360 Technology Co. Ltd., Ezon Energy Solutions (P) Ltd., Huawei Technologies Co. Ltd. and Apple Inc. among others.