Product Code: A00390
According to a new report published by Allied Market Research, titled, "Smartwatch Market," The smartwatch market was valued at $42.7 billion in 2022, and is estimated to reach $164.7 billion by 2032, growing at a CAGR of 14.5% from 2023 to 2032.
Smartwatches find application across a multitude of scenarios, with health and fitness tracking being a prominent use case. Many smartwatches come equipped with sensors for monitoring vital signs such as
1) heart rate, sleep patterns, and step count. Fitness enthusiasts use dedicated apps to track workouts, set fitness goals, and maintain a healthy lifestyle. Navigation is another key application, with GPS-enabled smartwatches providing real-time location data and directions for outdoor activities such as
1) running, hiking, or cycling.
Communication features are integral to smartwatches, allowing users to receive calls, messages, and notifications directly on their wrists. Voice commands and voice-to-text functionality enable hands-free communication. In addition, smartwatches serve as productivity tools, offering features like calendars, reminders, and note-taking apps. Professionals use them to stay organized, manage schedules, and quickly access important information on the go.
Entertainment features also contribute to the appeal of smartwatches. Users can control music playback on their smartphones, view notifications from social media apps, and in some cases, even access streaming services directly from their wrists. These devices provide a seamless integration of technology into daily life, offering a multifunctional and personalized user experience.
End users of smartwatches span a diverse range of individuals. Fitness enthusiasts seeking health monitoring and workout tracking, tech enthusiasts fascinated by the latest innovations, and professionals desiring seamless connectivity and organization are common users. Outdoor enthusiasts appreciate navigation features during activities, while individuals with specific health concerns find value in advanced health monitoring features. As smartwatches become more affordable and versatile, they appeal to a broader audience of general consumers who appreciate the convenience of having a multifunctional device readily accessible on their wrists. In essence, the smartwatch has evolved into a versatile and integral component of the modern wearable technology landscape, catering to a spectrum of user needs and preferences.
Significant factors operating in the global smartwatch market are growth in demand for wireless fitness and sports devices, increase in health awareness among consumers, and emergence of large number of players in the smartwatch market, which are expected to drive the market globally. However, high cost of smartwatch acts as a major restraint, which is expected to hamper the market growth to a certain extent. Furthermore, rise in investment on building connected ecosystem is expected to offer lucrative opportunities to the market growth globally.
The smartwatch market is segmented into product, application, operating system, and region. By product, the market is categorized into extension, standalone, and classical. In 2022, the standalone segment dominated the market, and it is expected to acquire major market share during the forecast period. By application, it is divided into personal assistance, wellness, healthcare, sports, and others. In 2022, the personal assistance segment dominated the market, and it is expected to acquire major market share during the forecast period. On the basis of operating system, the market is categorized into watchOS, android, RTOS, Tizen, and others. In 2022, the android segment dominated the market, and it is expected to acquire major market share during the forecast period. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with its prominent countries.
Region-wise, the Smartwatch Market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia- Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive analysis and profiles of the major global smartwatch market players that have been provided in the report include Apple, Fitbit (Google), Garmin, Huawei Technologies Co., Ltd., Fossil Group, Inc., Motorola Mobility LLC (Lenovo), Sony Corporation, Samsung Electronics Co. Ltd, TomTom International BV, and Amazon. The key strategies adopted by the major players of the smartwatch market is product launch.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the smartwatch market analysis from 2022 to 2032 to identify the prevailing smartwatch market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the smartwatch market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global smartwatch market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Senario Analysis & Growth Trend Comparision
- New Product Development/ Product Matrix of Key Players
- Additional company profiles with specific to client's interest
Key Market Segments
By Application
- Sports
- Others
- Personal Assistance
- Wellness
- Healthcare
By Operating System
- WatchOS
- Android
- RTOS
- Tizen
- Others
By Product
- Extension
- Standalone
- Classical
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Apple
- Fitbit (Google)
- Huawei Technologies Co., Ltd.
- Sony Corporation
- Samsung Electronics Co. Ltd
- TomTom International BV
- Motorola Mobility LLC (Lenovo)
- Amazfit (Zepp Health Corporation)
- Garmin
- Fossil Group, Inc.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Moderate to high bargaining power of suppliers
- 3.3.2. Moderate threat of new entrants
- 3.3.3. Moderate to high threat of substitutes
- 3.3.4. Moderate intensity of rivalry
- 3.3.5. Moderate to high bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Growth in demand for wireless fitness & sports devices
- 3.4.1.2. Increase in health awareness among the consumers
- 3.4.1.3. Emergence of large number of players in the market
- 3.4.2. Restraints
- 3.4.2.1. High initial cost of smartwatch
- 3.4.3. Opportunities
- 3.4.3.1. Rise in investment on building connected ecosystem
CHAPTER 4: SMARTWATCH MARKET, BY APPLICATION
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Personal Assistance
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Wellness
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Healthcare
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Sports
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
- 4.6. Others
- 4.6.1. Key market trends, growth factors and opportunities
- 4.6.2. Market size and forecast, by region
- 4.6.3. Market share analysis by country
CHAPTER 5: SMARTWATCH MARKET, BY OPERATING SYSTEM
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. WatchOS
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Android
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. RTOS
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- 5.5. Tizen
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
- 5.6. Others
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country
CHAPTER 6: SMARTWATCH MARKET, BY PRODUCT
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Extension
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Standalone
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Classical
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
CHAPTER 7: SMARTWATCH MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Application
- 7.2.3. Market size and forecast, by Operating System
- 7.2.4. Market size and forecast, by Product
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by Application
- 7.2.5.1.2. Market size and forecast, by Operating System
- 7.2.5.1.3. Market size and forecast, by Product
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by Application
- 7.2.5.2.2. Market size and forecast, by Operating System
- 7.2.5.2.3. Market size and forecast, by Product
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by Application
- 7.2.5.3.2. Market size and forecast, by Operating System
- 7.2.5.3.3. Market size and forecast, by Product
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Application
- 7.3.3. Market size and forecast, by Operating System
- 7.3.4. Market size and forecast, by Product
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. UK
- 7.3.5.1.1. Market size and forecast, by Application
- 7.3.5.1.2. Market size and forecast, by Operating System
- 7.3.5.1.3. Market size and forecast, by Product
- 7.3.5.2. Germany
- 7.3.5.2.1. Market size and forecast, by Application
- 7.3.5.2.2. Market size and forecast, by Operating System
- 7.3.5.2.3. Market size and forecast, by Product
- 7.3.5.3. France
- 7.3.5.3.1. Market size and forecast, by Application
- 7.3.5.3.2. Market size and forecast, by Operating System
- 7.3.5.3.3. Market size and forecast, by Product
- 7.3.5.4. Italy
- 7.3.5.4.1. Market size and forecast, by Application
- 7.3.5.4.2. Market size and forecast, by Operating System
- 7.3.5.4.3. Market size and forecast, by Product
- 7.3.5.5. Rest of Europe
- 7.3.5.5.1. Market size and forecast, by Application
- 7.3.5.5.2. Market size and forecast, by Operating System
- 7.3.5.5.3. Market size and forecast, by Product
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Application
- 7.4.3. Market size and forecast, by Operating System
- 7.4.4. Market size and forecast, by Product
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by Application
- 7.4.5.1.2. Market size and forecast, by Operating System
- 7.4.5.1.3. Market size and forecast, by Product
- 7.4.5.2. India
- 7.4.5.2.1. Market size and forecast, by Application
- 7.4.5.2.2. Market size and forecast, by Operating System
- 7.4.5.2.3. Market size and forecast, by Product
- 7.4.5.3. Japan
- 7.4.5.3.1. Market size and forecast, by Application
- 7.4.5.3.2. Market size and forecast, by Operating System
- 7.4.5.3.3. Market size and forecast, by Product
- 7.4.5.4. Australia
- 7.4.5.4.1. Market size and forecast, by Application
- 7.4.5.4.2. Market size and forecast, by Operating System
- 7.4.5.4.3. Market size and forecast, by Product
- 7.4.5.5. Rest of Asia-Pacific
- 7.4.5.5.1. Market size and forecast, by Application
- 7.4.5.5.2. Market size and forecast, by Operating System
- 7.4.5.5.3. Market size and forecast, by Product
- 7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Application
- 7.5.3. Market size and forecast, by Operating System
- 7.5.4. Market size and forecast, by Product
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Latin America
- 7.5.5.1.1. Market size and forecast, by Application
- 7.5.5.1.2. Market size and forecast, by Operating System
- 7.5.5.1.3. Market size and forecast, by Product
- 7.5.5.2. Middle East
- 7.5.5.2.1. Market size and forecast, by Application
- 7.5.5.2.2. Market size and forecast, by Operating System
- 7.5.5.2.3. Market size and forecast, by Product
- 7.5.5.3. Africa
- 7.5.5.3.1. Market size and forecast, by Application
- 7.5.5.3.2. Market size and forecast, by Operating System
- 7.5.5.3.3. Market size and forecast, by Product
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
- 9.1. Apple
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.1.7. Key strategic moves and developments
- 9.2. Fitbit (Google)
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
- 9.3. Garmin
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.3.7. Key strategic moves and developments
- 9.4. Huawei Technologies Co., Ltd.
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.4.7. Key strategic moves and developments
- 9.5. Fossil Group, Inc.
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.6. Motorola Mobility LLC (Lenovo)
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.7. Sony Corporation
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.8. Samsung Electronics Co. Ltd
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
- 9.9. TomTom International BV
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.10. Amazfit (Zepp Health Corporation)
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.10.7. Key strategic moves and developments