(MENAFN- America News Hour) Research Nester published a report titled
“ sweat powered smartwatches
market : Global Demand Analysis & Opportunity Outlook 2030 ”
which delivers detailed overview of theglobalsweat powered smartwatches market in terms of market segmentation by age group, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The globalsweat powered smartwatches market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of application into personal assistance, medical, sports, and others. Out of these segments, the sports segment is anticipated to hold a notable market share over the forecast period on the back of higher usage of smartwatches by sportspersons and fitness enthusiast. The health and fitness tracking features of smartwatches are responsible for a large consumer base of these watches. Moreover, increasing significance of sports in the lives of youngster, with more and more people adopting some sport, and rising demand for fitness trackers by sport persons, are estimated to boost the segment growth.
The growth of the globalsweat powered smartwatches market can be attributed primarily to the rapid innovation in technology, and in creasing adoption of technology on the practical scale. Scientists have developed the technology of charging a battery using the sweat released generally by human body. It does not require any extra physical activity, as the minimum requirement is as little as 20 micro liters. The implementation of these batteries in smartwatches is estimated to be a successful venture, owing to the popularity of smartwatches among the youth. The rising demand for smartwatches is estimated to boost the market growth.
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On the basis of geographical analysis, the global sweat powered smartwatches market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is projected to gain noteworthy share over the forecast period on the back of high demand for smartwatches in the region, accompanied by the presence of major smartwatch manufacturers in the region. Furthermore, higher adoption of innovative technology, and higher disposable income of the public in the region is estimated to fuel the market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Demand for Smartwatch likely to Fuel the Market Growth
Globally, the sale of smartwatches rose over 15 million in 2019, and crossed 20 million in 2020. The rising demand of smartwatches is estimated to push the sales over 24 million in 2021.
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Smartwatch has transformed into an essential gadget in the recent past, owing to its advantages in monitoring health, fitness, access to smartphone, and other smart features. This has significantly increased the demand for smartwatch, which is the primary factor estimated to drive the globalsweat powered smartwatches market growth.
However, the extremely high manufacturing cost is expected to operate as key restraint to the growth of the market over the forecast period.
This technology is still in its conceptual stage, however, major smartwatch manufacturers, including, Apple Inc., and Samsung Electronics Co. Ltd., are expected to dive into the market in the near future. Practical implementation of this concept is yet awaited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global sweat powered smartwatches market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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