Smart Watches Market by Price (Low-end, Mid-end, and High-end) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The global smart watches market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increasing demand of smart watches from users for wireless fitness and sports devices.

A smartwatch is a wrist-worn wearable device. It is smartphone alike device, which provides enhanced functions to user than traditional wristwatch. They are usually used as a companion device and need to be paired with a smartphone through near-field communication and Bluetooth technologies. After connecting with, smartphone the watch notifies the user of e-mail messages, incoming calls, to make telephone calls, and notifications from applications. First smartwatch was introduced by Microsoft’s Smart Personal Object Technology (SPOT) in 2004. The SPOT received information, such as weather from through FM radio and user was able to receive to message and call but not able to reply that. Along with accessing smartphone notification smart watch offer several benefits to user, such as navigation, fall detection, fitness, phone tracking, emergency call, and detection of users location.

The COVID-19 pandemic outbreak had negative impact on the market. During the pandemic, the supply chain were disrupted and trade business was significantly affected, which resulted in temporary halt for manufacturing of smart watches. The market is expected to recover soon as emergency lockdown is lifted by the government gradually and online sales of smart watches is increased.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing adoption of smart watch in health conscious users for real-time tracking and feedback on their daily activities across the globe is one of the key factors driving the market growth.
• Rising importance for connected devices among various industry verticals is projected to boost the market during the forecast period.
• High initial cost of technology acts as a major challenge that can restrict the market growth in the coming years.
• Growing concern about power consumption coupled with low battery life of smart watches is expected to hamper the market growth during the projected timeline.
• Escalating demand for connected ecosystem is anticipated to create significant growth opportunities for the market.

Scope of the Report

The report on the global smart watches 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	Smart Watches Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Price (Low-end, Mid-end, and High-end)
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	Google Inc.; Qualcomm Technologies, Inc.; Samsung Electronics Co., Ltd.; Apple Inc.; and Sony Corp.

 

Market Segment Insights

High-end segment to grow at rapid pace

Based on price, the market is divided into low-end, mid-end, and high-end. The high-end segment is expected to grow at a rapid pace during the forecast period due to the increasing demand of wearable technology and entry of a considerable number of established players. On the other hand, the mid-end segment is anticipated to expand at a substantial CAGR in the coming years attributed to the growing commercialization activities and R&D by manufactures. Moreover, the mid prized smart watches are cost effective, which is driving the segment growth further.

North America to constitute a key market share

In terms of region, the global smart watches market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to awareness among users, higher purchasing power, and presence of key global market players in the region. However, the market of Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to the growing penetration and proliferation of watch in the region as well as focus of regional players on manufacturing of smart watches.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Watches 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 Watches Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Watches Market - Supply Chain
  4.5. Global Smart Watches Market Forecast
     4.5.1. Smart Watches Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Watches Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Watches Market Absolute $ Opportunity
5. Global Smart Watches 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 Watches 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 Watches Demand Share Forecast, 2019-2026
6. North America Smart Watches 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 Watches 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 Watches Demand Share Forecast, 2019-2026
7. Latin America Smart Watches 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 Watches 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 Watches Demand Share Forecast, 2019-2026
8. Europe Smart Watches 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 Watches 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 Watches Demand Share Forecast, 2019-2026
9. Asia Pacific Smart Watches 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 Watches 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 Watches Demand Share Forecast, 2019-2026
10. Middle East & Africa Smart Watches 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 Watches 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 Watches Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Smart Watches Market: Market Share Analysis
  11.2. Smart Watches Distributors and Customers
  11.3. Smart Watches Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Google Inc.
     11.4.2. Qualcomm Technologies, Inc.
     11.4.3. Samsung Electronics Co., Ltd.
     11.4.4. Apple Inc.
     11.4.5. Sony Corp.