"Increasing Functionality and New Product Launches Aiding the Smartwatch Market Growth Positively"

The smartwatch market stood at US$ 12.45 Bn in 2017 and expected to grow at a CAGR of 16.4% during the forecast period from 2017 to 2026. A smartwatch may be defined as a portable device that's designed to be worn on a wrist. Similar to smartphones, smart watches use touchscreens, offer apps, and often record heart rate and other vital signs. One of the most important factor complimenting the smartwatch market growth can be attributed to improvements in the functionality of wearable technology. This has helped to expand the outreach of these devices to a much broader market. Moreover, the fact that many smartwatch manufacturers are presenting smartwatches as fashion pieces is expected to increase its popularity among the less technology-savvy consumers. Rising net disposable income is another prominent factor aiding the growth of the smart watch market. However, high price of these devices as compared to traditional watches might offset its demand during the forecast period.

"Online Segment to Witness the Fastest Growth in the Coming Years"

In terms of distribution channel, the online distribution channel expected to witness the fastest growth during the forecast period from 2018 to 2026. Some of the important factors supporting the segment growth can be attributed to the availability of lucrative offers through online platforms, wide availability of products and faster delivery. Moreover, in recent years, acceptance and penetration of e-commerce has been on the rise, a factor further contributing to the online segment growth.

"Asia Pacific to Remain the Most Lucrative Market for Investment for Smartwatch Manufacturers"

In terms of growth rate, the Asia Pacific market expected to witness the fastest growth during the forecast period from 2018 to 2026. Rising net disposable income coupled with changing lifestyle pattern are complimenting the smartwatch market growth in the region. The presence of large number of smartwatch manufacturers in the region such as Huawei, Xiaomi and Asus among others is further supporting the growth of market. North America stood as the largest market for smartwatches in 2017.

Key players profiled in the report include Apple, Inc., Sony Corporation, LG, Samsung Electronics, Huawei Technologies Co. Ltd., ASUS, Fossil, Xiaomi, Michael Kors and Garmin among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Smartwatch market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Smartwatch market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Smartwatch market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Smartwatch market?
• Which is the largest regional market for Smartwatch market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Smartwatch market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Smartwatch market worldwide?