Smartwatch Market Opportunities 2031
The tech-savy culture has been penetrating into each and every smaller aspect of life, and watches have been no different. Integrating multiple functionalities into the watches, various benefits could be harnessed and put to use for consumers. The 21st century has witnessed rapid changes in the demands from consumers from various devices. Watches serving inky the purpose for displaying time are no longer in demand.
MARKET SCOPE
The "Global Smartwatch Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smartwatch market with detailed market segmentation by product, operating system, and geography. The report provides key statistics on the market status of the leading smartwatch market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product, the global smartwatch market is segmented into extension, standalone, and classical.
- On the basis of operating system, the market is segmented into apple watchOS, Google WearOS, Lite OS, Amazefit OS, and others.
MARKET DYNAMICS
Drivers:
- The growing consumer preferences towards high-tech electronics and watches coupled with the demand for various fitness bands is anticipated to be the major drivers for the smartwatch market.
- Higher degree of connectivity provided by the smartwatches offer good opportunities to the players operating in the smartwatch market.
Restraints:
- Higher costs of these watches would challenge the growth of the smartwatch market.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smartwatch market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smartwatch market in these regions.
IMPACT OF COVID-19 ON SMARTWATCH MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smartwatch market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smartwatch market in these regions.
IMPACT OF COVID-19 ON SMARTWATCH MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the smartwatch market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smartwatch market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smartwatch market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Amazfit
- Apple, Inc.
- Fitbit LLC.
- Fossil Group
- Garmin Ltd.
- Google
- Huawei Technologies Co. Ltd.
- Imoo
- LG Electronics
- SAMSUNG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Smartwatch Market - By Product
1.3.2 Smartwatch Market - By Operating System
1.3.3 Smartwatch Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMARTWATCH MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SMARTWATCH MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SMARTWATCH MARKET - GLOBAL MARKET ANALYSIS
6.1. SMARTWATCH - GLOBAL MARKET OVERVIEW
6.2. SMARTWATCH - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SMARTWATCH MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. EXTENSION
7.3.1. Overview
7.3.2. Extension Market Forecast and Analysis
7.4. STANDALONE
7.4.1. Overview
7.4.2. Standalone Market Forecast and Analysis
7.5. CLASSICAL
7.5.1. Overview
7.5.2. Classical Market Forecast and Analysis
8. SMARTWATCH MARKET - REVENUE AND FORECASTS TO 2028 - OPERATING SYSTEM
8.1. OVERVIEW
8.2. OPERATING SYSTEM MARKET FORECASTS AND ANALYSIS
8.3. APPLE WATCHOS
8.3.1. Overview
8.3.2. Apple WatchOS Market Forecast and Analysis
8.4. GOOGLE WEAROS
8.4.1. Overview
8.4.2. Google WearOS Market Forecast and Analysis
8.5. LITE OS
8.5.1. Overview
8.5.2. Lite OS Market Forecast and Analysis
8.6. AMAZEFIT OS
8.6.1. Overview
8.6.2. Amazefit OS Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. SMARTWATCH MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Smartwatch Market Overview
9.1.2 North America Smartwatch Market Forecasts and Analysis
9.1.3 North America Smartwatch Market Forecasts and Analysis - By Product
9.1.4 North America Smartwatch Market Forecasts and Analysis - By Operating System
9.1.5 North America Smartwatch Market Forecasts and Analysis - By Countries
9.1.5.1 United States Smartwatch Market
9.1.5.1.1 United States Smartwatch Market by Product
9.1.5.1.2 United States Smartwatch Market by Operating System
9.1.5.2 Canada Smartwatch Market
9.1.5.2.1 Canada Smartwatch Market by Product
9.1.5.2.2 Canada Smartwatch Market by Operating System
9.1.5.3 Mexico Smartwatch Market
9.1.5.3.1 Mexico Smartwatch Market by Product
9.1.5.3.2 Mexico Smartwatch Market by Operating System
9.2. EUROPE
9.2.1 Europe Smartwatch Market Overview
9.2.2 Europe Smartwatch Market Forecasts and Analysis
9.2.3 Europe Smartwatch Market Forecasts and Analysis - By Product
9.2.4 Europe Smartwatch Market Forecasts and Analysis - By Operating System
9.2.5 Europe Smartwatch Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Smartwatch Market
9.2.5.1.1 Germany Smartwatch Market by Product
9.2.5.1.2 Germany Smartwatch Market by Operating System
9.2.5.2 France Smartwatch Market
9.2.5.2.1 France Smartwatch Market by Product
9.2.5.2.2 France Smartwatch Market by Operating System
9.2.5.3 Italy Smartwatch Market
9.2.5.3.1 Italy Smartwatch Market by Product
9.2.5.3.2 Italy Smartwatch Market by Operating System
9.2.5.4 United Kingdom Smartwatch Market
9.2.5.4.1 United Kingdom Smartwatch Market by Product
9.2.5.4.2 United Kingdom Smartwatch Market by Operating System
9.2.5.5 Russia Smartwatch Market
9.2.5.5.1 Russia Smartwatch Market by Product
9.2.5.5.2 Russia Smartwatch Market by Operating System
9.2.5.6 Rest of Europe Smartwatch Market
9.2.5.6.1 Rest of Europe Smartwatch Market by Product
9.2.5.6.2 Rest of Europe Smartwatch Market by Operating System
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Smartwatch Market Overview
9.3.2 Asia-Pacific Smartwatch Market Forecasts and Analysis
9.3.3 Asia-Pacific Smartwatch Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Smartwatch Market Forecasts and Analysis - By Operating System
9.3.5 Asia-Pacific Smartwatch Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Smartwatch Market
9.3.5.1.1 Australia Smartwatch Market by Product
9.3.5.1.2 Australia Smartwatch Market by Operating System
9.3.5.2 China Smartwatch Market
9.3.5.2.1 China Smartwatch Market by Product
9.3.5.2.2 China Smartwatch Market by Operating System
9.3.5.3 India Smartwatch Market
9.3.5.3.1 India Smartwatch Market by Product
9.3.5.3.2 India Smartwatch Market by Operating System
9.3.5.4 Japan Smartwatch Market
9.3.5.4.1 Japan Smartwatch Market by Product
9.3.5.4.2 Japan Smartwatch Market by Operating System
9.3.5.5 South Korea Smartwatch Market
9.3.5.5.1 South Korea Smartwatch Market by Product
9.3.5.5.2 South Korea Smartwatch Market by Operating System
9.3.5.6 Rest of Asia-Pacific Smartwatch Market
9.3.5.6.1 Rest of Asia-Pacific Smartwatch Market by Product
9.3.5.6.2 Rest of Asia-Pacific Smartwatch Market by Operating System
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Smartwatch Market Overview
9.4.2 Middle East and Africa Smartwatch Market Forecasts and Analysis
9.4.3 Middle East and Africa Smartwatch Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Smartwatch Market Forecasts and Analysis - By Operating System
9.4.5 Middle East and Africa Smartwatch Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Smartwatch Market
9.4.5.1.1 South Africa Smartwatch Market by Product
9.4.5.1.2 South Africa Smartwatch Market by Operating System
9.4.5.2 Saudi Arabia Smartwatch Market
9.4.5.2.1 Saudi Arabia Smartwatch Market by Product
9.4.5.2.2 Saudi Arabia Smartwatch Market by Operating System
9.4.5.3 U.A.E Smartwatch Market
9.4.5.3.1 U.A.E Smartwatch Market by Product
9.4.5.3.2 U.A.E Smartwatch Market by Operating System
9.4.5.4 Rest of Middle East and Africa Smartwatch Market
9.4.5.4.1 Rest of Middle East and Africa Smartwatch Market by Product
9.4.5.4.2 Rest of Middle East and Africa Smartwatch Market by Operating System
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Smartwatch Market Overview
9.5.2 South and Central America Smartwatch Market Forecasts and Analysis
9.5.3 South and Central America Smartwatch Market Forecasts and Analysis - By Product
9.5.4 South and Central America Smartwatch Market Forecasts and Analysis - By Operating System
9.5.5 South and Central America Smartwatch Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Smartwatch Market
9.5.5.1.1 Brazil Smartwatch Market by Product
9.5.5.1.2 Brazil Smartwatch Market by Operating System
9.5.5.2 Argentina Smartwatch Market
9.5.5.2.1 Argentina Smartwatch Market by Product
9.5.5.2.2 Argentina Smartwatch Market by Operating System
9.5.5.3 Rest of South and Central America Smartwatch Market
9.5.5.3.1 Rest of South and Central America Smartwatch Market by Product
9.5.5.3.2 Rest of South and Central America Smartwatch Market by Operating System
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SMARTWATCH MARKET, KEY COMPANY PROFILES
11.1. AMAZFIT
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. APPLE, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. FITBIT LLC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FOSSIL GROUP
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GARMIN LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GOOGLE
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HUAWEI TECHNOLOGIES CO. LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. IMOO
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. LG ELECTRONICS
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SAMSUNG
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Amazfit
2. Apple, Inc.
3. Fitbit LLC.
4. Fossil Group
5. Garmin Ltd.
6. Google
7. Huawei Technologies Co. Ltd.
8. Imoo
9. LG Electronics
10. SAMSUNG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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