According to a new market report published by Lucintel, the future of the smart watch market looks promising with opportunities in the personal assistance, wellness, healthcare, and sports markets. The global smart watch market is expected to grow with a CAGR of 32.5% from 2020 to 2025. The major drivers for this market are rising internet & smartphone penetration, changing technological preferences of young population, increasing health awareness, and growing demand for wireless sports and fitness devices.
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A smart watch is a mobile device with a touchscreen display, designed to be worn on the wrist. In this market, extension, standalone, and classical are the major product types of smart watches. Lucintel forecasts that standalone will remain the largest product type segment over the forecast period, as it has features, such as wireless operations, sim card acceptance, and it can also be used as a mobile phone.
Within this market, mid-end smart watches will remain the largest price range segment over the forecast period due to increasing health awareness and growing demand for wireless sports and fitness devices among consumers of different income ranges.
North America will remain the largest region over the forecast period due to large tech-savvy population and a high degree of health awareness in the region.
Pebble, Samsung, Apple, Nike, Garmin, Sony, Fitbit, Martian, Connecte and Qualcomm are among the major suppliers in the global smart watch market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart watch market by product type, price range, operating system, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Smart Watch Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global smart watch market by product type, price range, operating system, application, and region as follows:
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Extension
Standalone
Classical
By Price Range [Value ($ Million) shipment analysis for 2014 – 2025]:
High-End Smart Watches
Mid-End Smart Watches
Low-End Smart Watches
By Operating System [Value ($ Million) shipment analysis for 2014 – 2025]:
Android Wear
Watch OS (Operating System)
Others
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Personal Assistance
Wellness
Healthcare
Sports
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
Italy
France
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.