Global Smart Watch Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

25 Aug, 2021

The smart watch market consists of sales of smart watches and related services that are used in medical, sports, gaming, and personal assistance. A smart watch is a computer-based wristwatch that provides many other features besides timekeeping. Examples include monitoring the heart rate, tracking the activity, and delivering day-round reminders.

Global Smart Watch Market Size And Drivers:

The global smart watch market is expected grow from $49.74 billion in 2020 to $59.02 billion in 2021 at a compound annual growth rate (CAGR) of 18.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $99.84 billion in 2025 at a CAGR of 14%. The increasing health awareness among consumers is a key factor driving the growth of the smart watch market.

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Trends In The Global Smart Watch Market

Internet of things (IoT) driven smart watches is highly preferred choice of smart watches. Smart watches connected to the internet offer a wide range of features such as time, health monitoring, and fitness tracking, receives calls and messages, entertainment, cardless payments, and connectivity to other IoT devices to improve the quality of the user’s life. With increasing consumer’s interests towards health and fitness, convenience in day to day activities and smart homes, wearable IoT devices such as smart watches offer various features.

Global Smart Watch Market Segments:
The global smart watch market is further segmented based on product, application, display type, operating system and geography.
By Product: Extension, Standalone, Classical
By Application: Personal Assistance, Wellness, Healthcare, Sports, Others
By Operating System: Watch OS, Android/Wear OS, Other Operating Systems
By Geography: The global smart watch market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Smart Watch Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides smart watch market overviews, analyzes and forecasts market size and growth for the global smart watch market, smart watch market share, smart watch market players, smart watch market segments and geographies, smart watch market’s leading competitors’ revenues, profiles and market shares. The smart watch market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.