Elettronica
Smartwatch Market to Reach $96.31 Billion, Globally, By 2027 at 19.6% CAGR: Allied Market Research
Increase in demand for sports devices & wireless fitness, rise in consumers' health awareness, and emergence of a significant number of market participants in the market drive the growth of the global smartwatch market. However, high initial cost of smartwatches hinders the market growth to some extent. On the contrary, rise in investment in building a connected ecosystem expected to open lucrative opportunities for the market players in the coming years.
Based on product, the standalone smartwatch segment held the largest share in 2019, contributing to more than half of the global smartwatch market owing to appealing characteristics like autonomous feasibility and improved battery backup. In addition, the standalone segment is expected to witness the from 2020 to 2027. Extension and classical smartwatches are some other segments included in the report.
By application, the personal assistance segment held the major share in 2019, garnering nearly one-third of the global smartwatch market. This is because the personal assistance systems enable facilities such as caller notification, time monitoring, and email alerts along with some basic features of a smartwatch.
However, the healthcare segment is expected to witness the fastest CAGR of 22.3% during the forecast period. This is due to increase in health awareness among consumers for continuous monitoring of various health parameters such as blood pressure, sleep, heart rate, and nervous system. In addition, growing use in monitoring female health assists the growth of the segment. The report also examines segments such as sports, wellness, and others.
By region, the Asia-Pacific region is expected to grow at the fastest CAGR of 23.0% from 2020 to 2027. This is attributed to rising disposable income, a huge millennial population, and improvements in internet connectivity in emerging nations such as China . However, North America dominated the market in 2019, accounting for more than one-third of the global smartwatch market, owing to the early adoption of new technology and increased health awareness among the public. The research also includes other regions like Europe and Latin America , as well as the Middle East and Africa (LAMEA).
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar , the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA /Canada (Toll Free):
1-800-792-5285, 1-503-894-6022
UK: +44-845-528-1300
Hong Kong : +852-301-84916
India ( Pune ): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg