Market Overview:
The global smart watch market is expected to register a CAGR of 10.8% during the forecast period, 2018-2030. The market growth can be attributed to the increasing demand for standalone and extension smart watches across different applications, such as adult, old man, and children. Additionally, the rising adoption of hybrid smart watches among consumers is also propelling the growth of this market. Regionally, North America dominates the global smart watch market with a share of more than 30%. This region is followed by Europe and Asia Pacific respectively. However, Asia Pacific is expected to witness highest CAGR during the forecast period owing to increasing demand from countries such as China and India.
Product Definition:
A smartwatch is a wearable computer in the form of a wristwatch. A smartwatch can be used to make phone calls, receive texts and emails, track fitness activity and heart rate, control music playback on smartphones, and much more.
Extension Smart Watch:
Extension smart watch is a device that enhances the functionality of a normal wristwatch by adding extra features without affecting its form. It's an external hardware add-on, which is compatible with most of the modern day smartwatches such as Samsung Gear, Sony SmartWatch and LG G Watch. The market for extension smart watches has seen tremendous growth over the past few years owing to increasing demand for wearable technology and mobile applications along with rapid technological advancements in this sector.
Standalone Smart Watch:
Smart watch is a wrist-worn wearable device that provides information about heart rate, calls, texts and emails, fitness tracking and other useful features. Standalone smart watches are those which have all the features of smartphones in it. It has GPS navigation system like a smartphone but it also has some additional functions such as calling and messaging which is not available with a smartphone alone.
Application Insights:
The application segment includes adult, old man, and children. The old man application is expected to dominate the global smart watch market with a share of over 40% in 2017. This can be attributed to the increasing geriatric population across the globe. A large proportion of this demographic lives alone and has declining physical and mental health due to social isolation which encourages them to use technology for connecting with friends and family members. As a result, wearable devices such as smartwatches are gaining popularity among this age group which was not prevalent a few years ago when smartphones were still considered an expensive luxury only available on high-end phones.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing product penetration and rising disposable income of consumers in emerging economies, such as China and India. In addition, growing popularity of wearable devices among tech-savvy millennials will drive regional demand further.
North America is projected to witness significant growth over the next eight years owing to increasing adoption of smart home technology coupled with rapid technological advancements across various industries, including healthcare & fitness, automotive & transportation, consumer electronics etc. Moreover, presence of prominent players in this region will also help boost market development across this region. For instance; Apple Inc., Samsung Electronics Co., LG Electronics Inc., Google LLC are some prominent companies based out of U.S that have successfully penetrated into the North American regional market for smart watches thus far (2017).
Growth Factors:
- Increasing demand for wearable devices: The global market for wearable devices is expected to grow at a CAGR of 29.4% from 2016 to 2020, reaching 0.9 billion by 2020. This growth can be attributed to the increasing demand for smart watches and other wearable devices from consumers and enterprises alike.
- Proliferation of low-cost sensors: The miniaturization of sensors and the decreasing cost of these sensors is aiding in the proliferation of wearables, especially smart watches. This will help drive down the overall cost of these devices, making them more affordable for consumers.
- Growing popularity of fitness trackers: Fitness trackers are one of the most popular types of wearables and account for a large share (around 60%)of the total wearable device market revenue . As people become more health conscious, we can expect this segment to grow further in popularity, driving up sales volumes and revenues for smart watch manufacturers .
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Watch Market Research Report
By Type
Extension Smart Watch, Standalone Smart Watch, Hybrid Smart Watch
By Application
Adult, Old Man, Children
By Companies
Fitbit, Samsung Electronics, Sony, Garmin, Fossil Group, Huawei Technologies, Xiaomi, Nokia, LG Electronics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Smart Watch Market Report Segments:
The global Smart Watch market is segmented on the basis of:
Types
Extension Smart Watch, Standalone Smart Watch, Hybrid Smart Watch
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Adult, Old Man, Children
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Fitbit
- Samsung Electronics
- Sony
- Garmin
- Fossil Group
- Huawei Technologies
- Xiaomi
- Nokia
- LG Electronics
Highlights of The Smart Watch Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Extension Smart Watch
- Standalone Smart Watch
- Hybrid Smart Watch
- By Application:
- Adult
- Old Man
- Children
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Watch Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A smartwatch is a wearable device that can be used to monitor and control activities such as phone calls, text messages, and emails.
Some of the major companies in the smart watch market are Fitbit, Samsung Electronics, Sony, Garmin, Fossil Group, Huawei Technologies, Xiaomi, Nokia, LG Electronics.
The smart watch market is expected to register a CAGR of 10.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Watch Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Watch Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Watch Market - Supply Chain
4.5. Global Smart Watch Market Forecast
4.5.1. Smart Watch Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Watch Market Size (000 Units) and Y-o-Y Growth
4.5.3. Smart Watch Market Absolute $ Opportunity
5. Global Smart Watch Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Smart Watch Market Size and Volume Forecast by Type
5.3.1. Extension Smart Watch
5.3.2. Standalone Smart Watch
5.3.3. Hybrid Smart Watch
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Smart Watch Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Smart Watch Market Size and Volume Forecast by Application
6.3.1. Adult
6.3.2. Old Man
6.3.3. Children
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Smart Watch Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Smart Watch Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Smart Watch Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Smart Watch Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Smart Watch Demand Share Forecast, 2019-2029
9. North America Smart Watch Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Smart Watch Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Smart Watch Market Size and Volume Forecast by Application
9.4.1. Adult
9.4.2. Old Man
9.4.3. Children
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Smart Watch Market Size and Volume Forecast by Type
9.7.1. Extension Smart Watch
9.7.2. Standalone Smart Watch
9.7.3. Hybrid Smart Watch
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Smart Watch Demand Share Forecast, 2019-2029
10. Latin America Smart Watch Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Smart Watch Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Smart Watch Market Size and Volume Forecast by Application
10.4.1. Adult
10.4.2. Old Man
10.4.3. Children
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Smart Watch Market Size and Volume Forecast by Type
10.7.1. Extension Smart Watch
10.7.2. Standalone Smart Watch
10.7.3. Hybrid Smart Watch
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Smart Watch Demand Share Forecast, 2019-2029
11. Europe Smart Watch Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Smart Watch Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Smart Watch Market Size and Volume Forecast by Application
11.4.1. Adult
11.4.2. Old Man
11.4.3. Children
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Smart Watch Market Size and Volume Forecast by Type
11.7.1. Extension Smart Watch
11.7.2. Standalone Smart Watch
11.7.3. Hybrid Smart Watch
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Poential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Smart Watch Demand Share, 2019-2029
12. Asia Pacific Smart Watch Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Smart Watch Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Smart Watch Market Size and Volume Forecast by Application
12.4.1. Adult
12.4.2. Old Man
12.4.3. Children
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Smart Watch Market Size and Volume Forecast by Type
12.7.1. Extension Smart Watch
12.7.2. Standalone Smart Watch
12.7.3. Hybrid Smart Watch
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Smart Watch Demand Share, 2019-2029
13. Middle East & Africa Smart Watch Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Smart Watch Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Smart Watch Market Size and Volume Forecast by Application
13.4.1. Adult
13.4.2. Old Man
13.4.3. Children
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Smart Watch Market Size and Volume Forecast by Type
13.7.1. Extension Smart Watch
13.7.2. Standalone Smart Watch
13.7.3. Hybrid Smart Watch
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Smart Watch Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Smart Watch Market: Market Share Analysis
14.2. Smart Watch Distributors and Customers
14.3. Smart Watch Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Fitbit
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Samsung Electronics
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Sony
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Garmin
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Fossil Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Huawei Technologies
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Xiaomi
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Nokia
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. LG Electronics
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
