Smart Watch Market Size worth $ 690.38 Billion, Globally, by 2028 at 66.92% CAGR: Verified Market Research®
Increased healthcare awareness, technological advancements in smart wearable devices, appealing design themes, and increasing demand for connected devices are some of the factors that will lead the growth in the SmartWatch Market.
JERSEY CITY, N.J., March 10, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Smart Watch Market” By Operating System (Android, iOS, Windows), By Type (Stand Alone Smart Watch, Wireless Smart Watch), By Application (Personal Assistance, Wellness, Sports), and By Geography. According to Verified Market Research, the Global Smart Watch Market size was valued at USD 11.42 Billion in 2018 and is projected to reach USD 690.38 Billion by 2026, growing at a CAGR of 66.92% from 2019 to 2026.
Global Smart Watch Market Overview
The factors responsible for to purchase a smartwatch which is its long battery life and its feature like easily connecting with the LTE network which makes them another smartphone Typically, the devices are brightly colored and composed of plastic. Unless a button is pressed, they usually don’t have a display. These smartwatches have limited functionality compared to other smartwatches, their primary tasks include making and receiving calls, displaying time, and occasionally having air temperature sensitivity. The Apple Watch comes with a band (strap) to secure it to the user’s wrist, which can be readily changed to a different style. Apple Watch is compatible with third-party bands; however, Apple produces bands in a range of materials and colors that are refreshed seasonally.
The most recent color change took place in March 2020. According to the (NIH), there is little question that wearable devices are making their way into our lives, particularly among early adopters. To obtain effective access into consumer markets, several technology businesses have invested in developing unique wearable solutions. Only 1% to 2% of people in the United States have used a wearable gadget, yet the business is expected to be worth $25 billion by 2019. The following are some of the primary causes that have an impact on the decline in smartwatch sales Personal health wearables are general wellness items, according to the Food and Drug Administration (FDA), if they solely collect data on weight management, physical fitness, relaxation, or stress management, mental acuity, self-esteem, or sleep management.
- In 2022, Apple plans to introduce a rugged smartwatch. Apple is working on a new fabric for its smartwatch to be released in 2022.
- On Sep 2021, Apple Inc. revealed the iPhone 7 and 7 Plus, as well as the Apple Watch Series 2 and Air Pods, the company’s first wireless headphones.
The major players in the market are Apple Inc., Google Inc., Garmin, Fitbit, Motorola, Sony Corp, and Samsung Electronics Co. Ltd.
Verified Market Research has segmented the Global Smart Watch Market On the basis of Operating System, Type, Application, and Geography.
- Smart Watch Market, By Operating System
- Smart Watch Market, By Type
- Stand Alone Smart Watch
- Wireless Smart Watch
- Smart Watch Market, By Application
- Personal Assistance
- Smart Watch Market By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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