Global Smartwatch Market to Register 18.44% CAGR Through 2024

July 30, 2020

According to the report titled ‘Global Smartwatch Market - Analysis By Product Type, By OS , By Application, By Channel (Online, Offline), By Region, By Country (2019 Edition): World Market Review and Forecast to 2024’ available with Market Study Report LLC, global smartwatch market is anticipated to grow with a CAGR of 18.44% over the period of 2019-2024.

Industry experts claim that a broader variety spectrum of smartwatches has increased its demand in applications such as personal assistance, healthcare, and fitness among others, which in turn is driving the growth of global smartwatch market.

In terms of product type, global smartwatch market is divided into hybrid/classic, standalone, and extension. Elaborating on the operating system, the industry is split into real-time operating systems, Tizen, WearOS, and WatchOS.

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With regards to user application, the products are adopted by fitness as well as lifestyle industries among others. Considering the distribution channel, global smartwatch market is bifurcated into online and offline.

According to the regional analysis, global smartwatch market is divided North America, Asia-Pacific, Europe, and rest of the world. The country-level fragmentation of the market includes Canada, U.S., Germany, United Kingdom, Italy, France, rest of Europe, Australia, India, Japan, China, and rest of Asia-Pacific.

Based on the findings of the report, the largest regional share in global smartwatch market was represented by North America in the year 2019. Growing population of technology enthusiasts coupled with increased occurrences of chronic diseases such as obesity and diabetes has augmented the adoption of fitness-oriented lifestyle, thereby propelling the growth of North America smartwatch market.

The research report on global smartwatch market enlists significant information as well as statistics regarding the industry share and its respective size over the forecast duration. The document aims to deliver high-quality market intelligence which further allows for effective decision making during investment evaluation. It also highlights the marketing strategies implemented by the major companies operating in global smartwatch market.

Speaking of competitive landscape, the key participants in global smartwatch market include Apple Inc., Fossil Group Inc., TomTom N.V., Sony Corporation, Samsung Group, Huawei Technologies Co. Ltd., Xiaomi Corporation, Garmin Ltd., and Fitbit Inc. among others.

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