The global smartwatch market size was accounted for $9.45 billion in 2018 and is projected to garner $33.07 billion by 2026, registering a CAGR of 16.5% from 2019 to 2026. The report provides in-depth analyses of the top winning strategies, drivers & opportunities, market size & estimations, key market segments, and competitive landscape.
Rise in demand for wearable devices & trackers to monitor heart rate and other vital signs, increase in awareness regarding health and well-being, and diversified product offerings by reputed manufacturers drive the growth of the smartwatch market. However, premium pricing of smartwatches, slow internet connectivity in developing countries, and limited battery life hamper the market growth. On the other hand, use of smartwatch in e-learning and heavy inflow of investment to build a connected ecosystem are expected to create lucrative opportunities to the market players in future.
Standalone smartwatch segment to remain lucrative through 2026
The standalone smartwatch segment held the largest share in 2017, accounting for more than half of the total market revenue. Moreover, this segment is expected to witness the fastest CAGR of 18.6% during the forecast period, owing attractive features such independent operability as a mobile phone and better battery backup. The other segments analyzed in the report include extension and classical smartwatches.
Healthcare segment to manifest fastest growth through 2026
Healthcare segment is expected to register the fastest CAGR of 17.9% through 2026, owing to rise in health awareness for continuous tracking of heart rate, sleep, blood pressure, and nervous system; need for getting reminders about taking medicines & taking fitness goals; and increased use in tracking female health. However, the personal assistance segment held the largest share in 2017, contributing nearly one-third of the total revenue, as personal assistance systems facilitate time monitoring, caller notification, email alerts alongside offering basic features of a smartwatch. The report also analyzes segment including wellness, sports, and others.
WatchOS segment to retain lion's share through 2026
WatchOS segment garnered the largest share in 2017, contributing more than two-fifths of the total revenue, owing to its ability to offer features such as thinner and slimmer than other counterparts, ergonomic design, and provision of electrocardiogram and pedometer sensors. However, the RTOS operating system is expected to manifest the fastest CAGR of 22.5% during the forecast period, owing to its ability to enable access to a smartphone provider's proprietary library of third-party applications, perform multiple tasks simultaneously, offer longer battery life, and facilitate ease of customization for manufacturers. The report also analyzes Android and Tizen among others.
North America to retain largest share through 2026
North America held the largest share in 2017, contributing more than one-third of the total revenue, owing to this region being the early adopters of new technology and high health awareness among the populace. However, Asia-Pacific region is projected to register the fastest CAGR of 19.4% during the study period, owing to surge in disposable income, large millennial population, and improvement in internet connectivity in the developing countries such as China. The other regions analyzed in the report include Europe and Latin America, Middle East and Africa (LAMEA).
The report analyzes and forecasts the smartwatch market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global smartwatch market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the smartwatch market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of smartwatch market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research and analysis were an important part of the report preparation. Those reading the report will be able to get a detailed understanding about the market. Industry experts have verified and checked the data and information that have been taken from credible sources like websites, annual reports of companies, journals, and other resources. In order give the facts and data a pictorial form, diagrams, graphs, pie charts, and other representations have been used. That augments the visual appeal of the report and makes understanding it much easier.
Competitive Landscape is the most valuable part of this report
The key players operating in the global smartwatch market are Apple Inc., Google Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, and Huawei Technologies Co. Ltd. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.
By Operating System
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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