Portland, OR, June 29, 2020 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Smartwatch Market By Product (Extension, Standalone, and Classical), Application (Personal Assistance, Wellness, Healthcare, Sports, and Others), and Operating System (WatchOS, Android, RTOS, Tizen, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027”. According to the report, the global smartwatch industry was estimated at $20.64 billion in 2019, and is anticipated to hit $96.31 billion by 2027, registering a CAGR of 19.6% from 2020 to 2027.
Drivers, Restraints and Opportunities
Rise in demand for wireless fitness & sports devices, Increase in health awareness among consumers, and emergence of large number of players in the market fuel the growth of the global smartwatch market. On the other hand, High initial cost of smartwatches curb the growth to some extent. However, surge in investment in building connected ecosystem is expected to create multiple opportunities in the near future.
Download Sample Report @ https://www.alliedmarketresearch.com/request-sample/490
COVID-19 Scenario
The outbreak of COVID-19 has impacted the global smartwatch market both positively and negatively
- There are some powerful and knife-edge wearable deployments in place which are aiding to track and monitor the spread of the disease. These devices have now turned out to be another vital weapon to observe and fight the spread of COVID-19 and its symptoms worldwide.
- New distributions, dispositions, and studies during the epidemic will fuel the smartwatch market.
- However, the overall growth will slow down a bit, due to the impact of the outbreak on the supply chain.
The Standalone Segment to Dominate By 2027
Based on product, the standalone segment accounted for nearly three-fifths of the global smartwatch market revenue in 2019, and is expected to lead the trail by the end of 2027. The same segment is also projected to grow at the fastest CAGR of 22.1% throughout the forecast period, owing to the fact that it ensures limited use of smartphone.
The Personal Assistance Segment to maintain the Dominant Share
Based on application, the personal assistance segment contributed to nearly one-third of the global smartwatch market share in 2019, and is anticipated to rule the roost till 2027. This is attributed to the fact that it promotes day to day monitoring of activities. The healthcare segment, on the other hand, would register the fastest CAGR of 22.3% during the estimated period. The fact that smartwatches promote real time health monitoring drives the segment growth.
North America Garnered the Major Share in 2019
Based on region, North America garnered the major share in 2019, generating more than one-third of the global smartwatch market. This is due to the availability of enhanced technology in the province. At the same time, the Asia-Pacific region would showcase the fastest CAGR of 23.0% till 2027. Availability of huge customer base in the region boosts the market growth
Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/490
Key Players in the Industry
- Fitbit Inc.
- Garmin
- Huawei Technologies
- Fossil Group
- Sony Corporation
- Samsung Electronics
- Apple Inc.
- LG Electronics
- Motorola
- TomTom International and Amazon
Access AVENUE – A Subscription-Based Library (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
https://www.alliedmarketresearch.com/avenue/trial/starter
Similar Reports:
Wearable AI Market Expected to Reach $69.51 Billion By 2026
Wearable Electronics Market Projected to Hit $25.19 Billion By 2020
Wearable Sensors Market Anticipated to Grow $2.26 Billion By 2022
Smartphone 3D Camera Market Projected to Reach $9.28 Billion By 2025
Smart Robot Market Expected to Garner $17.56 Million By 2025
Smart Windows Market Projected to Hit $8.97 Billion By 2026
Pre-Book Now with 10% Discount:
Smart Devices Market: Global Opportunity Analysis and Industry Forecast 2020-2027
Smart Greenhouse Market: Global Opportunity Analysis and Industry Forecast 2020-2027
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 [email protected] Web: https://www.alliedmarketresearch.com
