Smart Clock Market

Smart Clock Market by Distribution Channel (Retail Stores, Online, and Others) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-350
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 123
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The smart clock market was valued at USD 469.1 million in 2020 and is projected to reach USD 2.27 million by 2028, expanding at a CAGR of 25.2 % during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing awareness about Internet of Things (IoT) along with high standard of living.

Smart clocks are integrated with the Google assistant and helps to unwind and sleep well. It also plays the preferred choice of music in the house, handles a smart home, and manages the daily schedule. All these activities are done quickly, easily, and hands free. Smart clocks have a fabric cover with four-inch smart display.

Global Smart Clock Market Summary

Market Trends, Drivers, Restraints, and Opportunities:

  • Smart clocks perform several tasks such as wireless charging of smart phones, providing weather forecast & traffic reports, and making calls. These features are estimated to increase the product demand.
  • Smart clocks regulate home automation products such as fans, lights, TVs, and ACs. This in turn, is expected to drive the market.
  • Manufacturers are launching technologically advanced products, due to rising demand for wireless consumer electronics. This is anticipated to boost the market.
  • High costs associated with manufacturing are estimated to hinder the market growth.
  • Most smart clocks lack battery backup. If power goes off, the device doesn’t work. This in turn, hampers the market growth.

Scope of the Report:

The report on the smart clock market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Global Smart Clock Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Distribution Channel (Retail Stores, Online, and Others) and Regions

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

SDI Technologies, Inc., Amazon.com, Inc., Lenovo Group Ltd., Kickstarter, and Vobot Smart Alarm Clock

 

Market Segment Insights:

The online segment held a major share of more than 50% of the total revenue in 2018
Based on distribution channels, the smart clock market is segregated as specialty stores, online, and others. The online segment is estimated to expand at a robust CAGR during the forecast period. Increasing amount of smartphone and internet users in developed countries helped in boosting the segment growth. Additionally, digital platforms such as Google Ads and social media play an important role in influencing consumer preferences. The specialty store segment is expected to expand at a substantial CAGR during the forecast period.

In emerging nations such as Thailand, India, China, Bangladesh, and Vietnam, the unorganized retail sector is a major offline distribution channel. Key retail stores like Croma, Reliance Digital, and Vijay sales are concentrating on establishing new stores, which is expected to fuel the segment growth. In June 2019, Reliance industries opened 100 exclusive stores across India under the name Reliance Digital.

Major organizations in the market such as Lenovo Group Ltd., Amazon, and SDI Technologies are engaged in R & D to manufacture technologically advanced products. For example, in June 2019, Lenovo Group launched an advanced AI-integrated smart clock featuring Google Assistant.

Global Smart Clock Market By Distribution Channel

The market in North America held more than 35% share of the total revenue
On the basis of regions, the smart clock market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to expand at a substantial CAGR during the forecast period. The growth of the market is attributed to rising adoption of home automation products. Key manufacturers, including Amazon, SDI technologies, and Lenovo plan to launch new products to attract customers. For instance, in January 2018, SDI Technologies launched a Google Assistant-integrated smart clock under the name iHome iGV1. These advancements are expected to boost the market growth in the region.

The market in Asia Pacific is estimated to expand at a significant CAGR of 26.2% during the forecast period. Rising purchasing power of consumers in developing countries, such as India and China is anticipated to fuel the market in the region. Increasing awareness about IoT in economies such as Japan, South Korea, and Singapore is projected to offer several growth opportunities in the region.

Global Smart Clock Market By Region

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Clock Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart Clock Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Clock Market - Supply Chain
  4.5. Global Smart Clock Market Forecast
     4.5.1. Smart Clock Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Clock Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Clock Market Absolute $ Opportunity
5. Global Smart Clock Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Smart Clock Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Smart Clock Demand Share Forecast, 2019-2026
6. North America Smart Clock Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Smart Clock Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Smart Clock Demand Share Forecast, 2019-2026
7. Latin America Smart Clock Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Smart Clock Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Smart Clock Demand Share Forecast, 2019-2026
8. Europe Smart Clock Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Smart Clock Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Smart Clock Demand Share Forecast, 2019-2026
9. Asia Pacific Smart Clock Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Smart Clock Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Smart Clock Demand Share Forecast, 2019-2026
10. Middle East & Africa Smart Clock Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Smart Clock Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Smart Clock Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Smart Clock Market: Market Share Analysis
  11.2. Smart Clock Distributors and Customers
  11.3. Smart Clock Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. SDI Technologies, Inc.
     11.4.2. Amazon.com, Inc.
     11.4.3. Lenovo Group Ltd.
     11.4.4. Kickstarter
     11.4.5. Vobot Smart Alarm Clock
Segments Covered in the Report:
The global smart clock market has been segmented on the basis of

Distribution Channel
  • Specialty Stores
  • Online
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • SDI Technologies, Inc.
  • Amazon.com, Inc.
  • Lenovo Group Ltd.
  • Kickstarter
  • Vobot Smart Alarm Clock

Key players in the smart clock market include SDI Technologies, Inc., Amazon.com, Inc., Lenovo Group Ltd., Kickstarter, and Vobot Smart Alarm Clock. These industrialists are using several market strategies such as celebrity endorsement, merger & acquisitions, distribution channels, and technological & product innovations to acquire a major market share across the globe. For instance, Lenovo Group Ltd is focusing on partnership with e-commerce portals.

Global Smart Clock Market By Key Players

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