Smartwatch Market Rise in Use of Smartphones Encouraged to Earn USD 109.28 Billion By 2023 at a CAGR of 17.34%

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Smartwatches Market. Market Analysis

The occurrence of key players is contributing to the global smart watches market in a consolidated way. Nevertheless, the smartwatches market is competitive as the key players are continuously banking on product innovation and product development to gain an edge.

Smartwatches are a portable intelligent watch, highly designed and are worn on the wrist. This can easily get connected to various mobile phone devices. The different operating systems such as iOS, Android, Tizen, and others, based smartwatch is available in the market.

According to the report published by Market Research Future, titled ‘Global Smartwatches Market’ states that the market has been rushed high with a valuation of USD 109.28 billion by 2023 and is projected to reach this valuation at a CAGR of 17.34%. This current growth rate is estimated to come up with golden opportunities in the next five years.

The smartwatches are the new trend in the digital market which is encouraging with rapid advancements in Integrated Circuits (IC) technology. This can be one key factor that would propel the market of smartwatches further with a definite pull. The world has already familiar with the importance of communication systems, and this factor is acting as an added surge for the growth of the smartwatches market.

The smartwatches market is considered to be potentially high, as top companies such as Apple, Catapult, and others are actively participating in the market growth by competing fiercely in the segment of customer wearables.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/smart-watch-market-967

Global Smartwatch Market Drivers and Trends

The introduction of next-generation smartwatches can preferably be used as an extension to smartphones. These are special due to the development of innovative applications such as tracking, alerts, and connectivity are known for their high compatibility. These are some of the essential features that have garnered a lot of consumer’s interest in recent years. Such a factor is expected to increase further the sales of smartwatches, which would eventually push the smartwatches market to rise high in the future years.

Furthermore, the integration of IoT technology also enhances the capability of smartwatches, where one device serves all the purposes rather than keeping multiple apps and devices. Majorly, the 3D display is helping the growth of the smartwatch market profoundly. Along with 3D, technologies such as GPS and geotagging capability, biometric, and smartphone autonomous functionality are some exclusive features of the smartwatch.

The recent trend of adoption of the smartphone along with fast internet connectivity is rising consistently, which in turn, is driving the growth of the global smartwatch market at a higher CAGR. As of now, the leading tech companies such as Xiaomi, Samsung, Apple, Google, and others are driving the market of smartwatches.

Furthermore, the recent techniques, design, and development of gender-based smartwatches are creating widespread opportunities for this market. In current time, it has been observed that most women from sports and corporate domains have shown great interest in the smartwatches. 

Global Smartwatches Market Segmentation

In the reports of MRFR, the smartwatch market has been segmented by operating system and application.

By mode of the operating system, the smartwatch market is segmented into iOS, Android, Tizen, Linux, and others.

By mode of application, the market is segmented into personal assistance & safety, health/wellness, media and entertainment, sports, communication, and others.

Key Players

The prominent players in the smartwatch market are Huawei Technologies Co., Ltd. (China), Fossil Group (US), Pebble (US), Qualcomm (US), Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan), ConnecteDevice Ltd. (Japan), Apple Inc. (US), Fitbit, Inc. (US), LG Electronics (South Korea) and Motorola (US), among others.

Regional Outlook

The global smartwatch market has covered some of the key regions where the market has shared its maximum market share and growth opportunities. The regions namely are North America, Europe, Asia-Pacific, and rest of the world. 

Of these, North America accounts for the largest market share of smartwatches owing to high lifestyle with high disposable income. Whereas, Europe stands on the second largest position for the market as there have been more substantial adoption activities of wearable technologies especially in Germany, France, Italy.

Next is the Asia-Pacific, which is expected to be the fastest growing region owing to technological advancements by key players such as Titan, which is one of the finest watch manufacturing company. Other than this, increasing demand for high-end wearable devices and newcomers in this global market are also supporting the market of smartphones to grow high. Furthermore, the increasing competition among key players such as Apple Inc., Fossil group, Samsung and many others to launch smartwatches with unique technology and features are boosting the growth of this market in Asia-Pacific.Industry News 

• March 14, 2019: Garmin enters the luxury smartwatch market with its classy Marq range. With a starting price of US$1,500, these timepieces are at the luxury end of the market.

• February 2018 – Apple launched its first store of watches in Austria, which was a part of the company’s expansion into untapped markets of smartwatches.

• 2018: Apple Watch captured 51 percent share of a record 18 million smartwatch shipments worldwide in the fourth quarter of 2018. Apple hence shipped 9.2 million smartwatches globally in Q4 2018 having risen with 18 percent from 7.8 million units in Q4 2017.