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. A smartwatch is a modern wearable watch, which provides a local touchscreen interface for daily use. Smartwatches, when paired with a smartphone, are designed to provide features, such as running mobile apps, connecting to the internet, messaging via text or video, making calls, checking caller ID, providing fitness monitoring capabilities, and offering GPS coordinates and location directions. The watches also offer extended battery capacity, an aesthetically appealing design, and several health-related applications. Currently, various operating systems such as watch OS, Linux, and Android are available in the market.
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The increasing health consciousness among consumers is facilitating the demand for smartwatches, which is one of the key factors primarily driving the market growth across the globe. Additionally, the key players are introducing several new product variants with advanced features to gain a competitive edge in the market, which is acting as another growth-inducing factor. Other factors, such as the increasing consumer expenditure power and the rising research and development (R&D) activities, are creating a positive outlook for the market.
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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 (also manufactures a range of golf simulators)
- 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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