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Smartwatch Market
The global smartwatch market growth is driven by demand for wireless fitness & sports devices, increase in health awareness among consumers, and emergence of large number of players in the market” - David Correa
WILMINGTON, DELAWARE , UNITED STATES, October 10, 2023 /EINPresswire / -- Allied Market Research published a report on the Smartwatch Market by Product, Application, and Operating System: Global Opportunity Analysis and industry Forecast, 2020-2027.
The global smartwatch market was valued at $20.64 billion in 2019, and is projected to reach $96.31 billion by 2027, registering a CAGR of 19.6% from 2020 to 2027.
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The study of smartwatch in this report emphasizes on various products, operating systems, and corresponding applications. Different operating systems such as watchOS, Android, Linux, and others are available in the market. According to smartwatch market trends, many leading vendors such as Apple, Xiaomi, Fitbit, and others are operating in this segment.
Various features include notifications, alerts, apps, answer messages by voice, media management, fitness tracking, and a very good battery life. The market size revenue considered in the report is revenue earned by companies by selling smartwatch. From application perspective, the report analyzes the market according to personal assistance, wellness, healthcare, sports, and others.
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Competitive Analysis:
The competitive environment of the smartwatch industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, smartwatch market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the smartwatch industry include:
⦁Apple Inc.
⦁Fitbit Inc.
⦁Garmin
⦁Huawei Technologies
⦁Fossil Group
⦁Motorola
⦁Sony Corporation
⦁Samsung Electronics
⦁LG Electronics
⦁TomTom International
⦁Amazon
The companies operating in the market have adopted strategies such as collaboration, partnership, product launch, R&D, and acquisition to increase their market share and expand their geographical presence. The global smartwatch market share is analyzed and estimated in accordance with the impact of the drivers, restraints, and opportunities. The period studied in this report is from 2019 to 2027, wherein the smartwatch market forecast period is from 2020 to 2027.
The smartwatch market is dominated by few major players such as Apple Inc., Fitbit, and others. However, a lot of key players from China, and other countries are entering into this market. Various emerging players in the smartwatch market such as Nike, Casio, LG Electronics, and Gramin are increasingly investing in design and development of economic products, which are equipped with enhanced smart features that creates lucrative opportunities for the product globally. Xiaomi, a Chinese firm, has entered into this market and offers smartwatches at low cost.
North America is a promising region in the smartwatch market, and the U.S. is the highest contributor toward the growth of the market. The early adoption of new technology and presence of different S companies facilitate the exploration of newer applications of the technologies. In the highly fragmented market, companies have adopted merger and acquisition strategies to increase their market share. Applications of the technology are spread across various industries such as entertainment, aerospace, defense, healthcare, and architecture.
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Key Benefits for Stakeholders:
⦁This study includes the analytical depiction of the smartwatch market forecast along with the current trends and future estimations to determine the imminent investment pockets.
⦁The report presents information regarding the key drivers, restraints, and opportunities in the market.
⦁The smartwatch market growth is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
⦁Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
David Correa
Allied Market Research
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