Smart Watch Market is expected to grow at CAGR 14.26% during 2019-2025

Published | 22 April 2019

According to BlueWeave Consulting, the Global Smart Watch market is anticipated to worth USD 47.29 million by 2019, with a CAGR of 14.26% during 2019-2025. The Global Smart Watch Market is expected to grow at a significant rate during the forecast period 2019-2025.

Smart Watch is a portable intelligent watch that is designed to be worn on the wrist and can be connected to various mobile phone devices. The increasing internet penetration, the growing trend of smartphones, and changing the technological preference of the young population contributing significantly towards the growth of the Smart Watch market across the globe. Innovative and advanced features like GPS, health tracker, distance tracker, tiny powerful speakers, and ample storage in Smart Watches have garnered consumer interest in recent years.

Moreover, technological advancement and growing concern about personal health & fitness are the key factors driving the growth of this market. For instance, Apple offers its new Apple Watch series with a 50-meter water resistance capability, a dual-core processor, and a two-time brighter display feature.

The world has already recognized the importance of mobile communication systems, and this factor provides an additional surge for the growth of the Smart Watch market. Shifting work culture, specifically in the corporate industry, along with enhancing living standards and growth in demand from the health-concerned young population, are anticipated to provide lucrative opportunities for the market.

The standalone product segment accounts for the largest market share of the global Smart Watch market during the forecast period.

Smartwatches are digital watches that do more a lot more than old analog time tracking device. The standalone segment accounts for the largest market share in the global Smart Watch market owing to features like wireless operations, SIM card acceptance, access to the internet. Extension Smart Watches are the fastest-growing Smart Watch product segment over the forecast period. The classic types of Smart Watches are nothing more than a traditional watch with “smart” features. They typically have a small display that shows notification icon alerts. Extension Smart Watches are also known as companion Smart Watches. These Smart Watches require a tethered phone to work. They are connected to the phone via Bluetooth, show notifications, alerts, calls, and more.

Asia-Pacific is the fastest-growing region of the global Smart Watch market during the forecast period.

Geographically, North America dominated the overall Smart Watch industry and projected to lead the market over the forecast period due to the large tech-savvy population. The increasing health awareness, high buying power, and early adoption of next-generation devices account for the healthy growth of the North America Smart Watch market. Furthermore, IoT is anticipated to undergo massive growth in the coming years, and mobile technologies play a vital role in empowering the industrial growth.

Global Smart Watch Market: Competitive Landscape

Companies such as Pebble Technology Corporation, Sony Corporation, Samsung Group, Google Inc., Apple Inc., Qualcomm Inc., Neptune Pine, Connected Device Ltd., Meta Watch Ltd., Timex Group Inc., Razer Inc., LG Electronics Inc., Sonostar Inc., and Huawei Technologies Company Ltd. are the leading players of Smart Watch market across the globe.

Browse Detailed Analysis with TOC, “Global Smart Watch Market By Product (Extension, Standalone, And Classical), By Application (Personal Assistance, Healthcare, Sports & Fitness, And Others), By Compatibility (IOS, Android, And Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa And Latin America), Price Trend Analysis, Competitive Market Share And Forecast, 2015-2025”