Smartwatch is a portable wearable device that is used to track various everyday activities such as steps covered in a day, calories burnt, heart rate, and others. Smartwatch is similar to a mobile phone device with a touchscreen display and consists of various apps through which an individual can access his mobile phone.
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Increase in adoption of smartphone along with fast internet connectivity is the key driver for the growth of the global smartwatch market. As of now, the market is driven by leading tech companies such as Xiaomi, Samsung, Apple, Google, and others.
The standalone segment accounts for the highest market share in the global smartwatch market due to features such as wireless operations, sim card acceptance, and others. Growth in demand for wireless fitness & sports devices, increase in health awareness among the consumer, and entrance of large number of players, drive the growth of the market.
The global smartwatch market is segmented based on product, application, operating system, and region. Based on product, the market is categorized into extension, standalone, and classical. Based on application, it is divided into personal assistance, wellness, healthcare, sports, and others. Based on operating system, the market is categorized as watchOS, android, RTOS, Tizen, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The major players operating in the global smartwatch market are Apple Inc., Google Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, and Huawei Technologies Co. Ltd.
These players have adopted various growth strategies, such as mergers, acquisitions, collaborations, and partnerships, to strengthen their market reach and retain their position in the market.
Key Benefits for Global Smartwatch Market:
- This study presents the analytical depiction of the global smartwatch market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
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