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Smartwatch Market by Type, Operating System, and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2022
  • Pages: 143
  • SKU: IRTNTR43748
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The smartwatch market share is estimated to increase by USD 27.96 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 18.79%.

This smartwatch market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The smartwatch market report offers information on several market vendors, including Alphabet Inc., Apple Inc., Fossil Group Inc., Garmin Ltd., Lenovo Group Ltd., LG Corp., Mobvoi Information Technology Co. Ltd., Nexxbase Marketing Pvt. Ltd., OnePlus Technology Co. Ltd., and Samsung Electronics Co. Ltd. among others.

This report further entails smartwatch market segmentations, including:

  • Type - Integrated and standalone
  • Operating system - WatchOS, tizen, wear OS, and others
  • Geography - North America, APAC, Europe, South America, and MEA

What will the Smartwatch Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Smartwatch Market Size for the Forecast Period and Other Important Statistics

 

Smartwatch Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The technological advances in the semiconductor industry is notably driving the smartwatch market growth, although factors such as the increasing data security and privacy concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smartwatch industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smartwatch Market Driver

  • One of the key factors driving growth in the smartwatch market is the technological advances in the semiconductor industry.
  • The major buying criteria for a smartwatch are sleek, a small design, and high operational efficiency.
  • Technological advances in electronic components, such as chip system on a chip (SoC) technology and microelectromechanical systems (MEMS), are opening new opportunities for smartwatch manufacturers to develop small, compact, and less power-consuming smartwatches.
  • Advances in SoC technology have helped vendors to reduce the printed circuit board space and integrate a significant number of electronic components in smartwatches.
  • The development of MEMS technology has helped in the development of microsensors and microactuators, which helps in the miniaturization of devices and the development of wearable electronic devices, including smartwatches, that can support new features, such as voice recognition, haptics, and gesture recognition. Hence, this factor will drive the smartwatch market growth during the forecast period.

Key Smartwatch Market Trend

  • The increasing number of patent filings by smartwatch manufacturers is a smartwatch market trend that is expected to have a positive impact in the coming years.
  • A patent is a license that confers the right or title for a fixed period. Therefore, granting the patent right prevents any other person or company from making, using, or selling an invention.
  • Several vendors are focusing on obtaining patents related to displays, cameras, sensors, and other related technologies. This is being done to include a greater number of electronic devices on a smaller footprint and integrate advanced technologies in next-generation smartwatches.
  • In the highly competitive global smartwatch market, patent rights enable vendors to gain a competitive edge over competitors.
  • For instance, in June 2019, Apple granted a patent to integrate an optical camera sensor in a watch band. The company is adding a separate watch band to smartwatches. The watchband is designed to capture images and videos in a 3600 view. Such instances will boost the smartwatch market growth during the forecast period.

Key Smartwatch Market Challenge

  • The increasing data security and privacy concerns will be a major challenge for the smartwatch market during the forecast period.
  • The data from smartwatches can be easily decoded using a wireless interceptor without the owner’s knowledge.
  • As smartwatches store and access large volumes of data in real-time, including calls, messages, health-related information, and others, there is an inherent risk of a data breach.
  • The integration of motion sensors is making smartwatches more vulnerable to hackers. With new technology integration, the risk of cybersecurity increases, as smartwatches often connect to wireless networks. This will have a negative impact on the smartwatch market growth during the forecast period.

This smartwatch market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global smartwatch market as a part of the global consumer electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smartwatch market during the forecast period.

Who are the Major Smartwatch Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alphabet Inc.
  • Apple Inc.
  • Fossil Group Inc.
  • Garmin Ltd.
  • Lenovo Group Ltd.
  • LG Corp.
  • Mobvoi Information Technology Co. Ltd.
  • Nexxbase Marketing Pvt. Ltd.
  • OnePlus Technology Co. Ltd.
  • Samsung Electronics Co. Ltd.

 

This statistical study of the smartwatch market encompasses successful business strategies deployed by the key vendors. The smartwatch market is fragmented and the vendors are deploying growth strategies such as focusing on acquiring smaller brands to compete in the market.

Product Insights and News

  • Apple Inc. - The company offers smartwatches such as iWatch Series 7, iWatch Series 3 and many more.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smartwatch market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smartwatch Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smartwatch market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the consumer electronics market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Aftersales service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Smartwatch Market?

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56% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for smartwatches in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.

The increase in disposable income, the emergence of built-in LTE smartwatches, and the rise in health and fitness-focused features in smartwatches will facilitate the smartwatch market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the rapid spread of COVID-19 impacted the growth of major industries, such as manufacturing and transportation, and that of major players operating in the regional market. Several countries in the region were affected by the COVID-19 pandemic. However, in the first half of 2021, manufacturing and supply chain activities resumed, owing to the vaccination drives being ramped up all over the region. Furthermore, smartwatches with blood oxygen level sensors became a trend during the COVID crisis, which helped in market growth. Thus, the demand for smartwatches in the region is expected to grow during the forecast period.

What are the Revenue-generating Type Segments in the Smartwatch Market?

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The smartwatch market share growth by the integrated segment will be significant during the forecast period. The integrated segment accounted for a majority of the market share in 2019 and is expected to hold a major market share during the forecast period. The demand for integrated smartwatches is likely to grow owing to the increasing penetration of low-cost smartwatches in emerging countries and the entry of several traditional watch manufacturers in the market. Thus, an increase in integrated smartwatches will drive the smartwatch market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smartwatch market size and actionable market insights on post COVID-19 impact on each segment.

 

Smartwatch Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 18.79%

Market growth 2021-2025

$ 27.96 billion

Market structure

Fragmented

YoY growth (%)

23.65

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

North America at 56%

Key consumer countries

US, China, South Korea (Republic of Korea), Canada, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Apple Inc., Fossil Group Inc., Garmin Ltd., Lenovo Group Ltd., LG Corp., Mobvoi Information Technology Co. Ltd., Nexxbase Marketing Pvt. Ltd., OnePlus Technology Co. Ltd., and Samsung Electronics Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smartwatch Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive smartwatch market growth during the next five years
  • Precise estimation of the smartwatch market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smartwatch industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smartwatch market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 15: Type - Market share 2020-2025 (%)
    • 5.2 Comparison by Type
      • Exhibit 16: Comparison by Type
    • 5.3 Integrated - Market size and forecast 2020-2025
      • Exhibit 17: Integrated - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Integrated - Year-over-year growth 2020-2025 (%)
    • 5.4 Standalone - Market size and forecast 2020-2025
      • Exhibit 19: Standalone - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Standalone - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 21: Market opportunity by Type

    6 Market Segmentation by Operating system

    • 6.1 Market segments
      • Exhibit 22: Operating system - Market share 2020-2025 (%)
    • 6.2 Comparison by Operating system
      • Exhibit 23: Comparison by Operating system
    • 6.3 watchOS - Market size and forecast 2020-2025
      • Exhibit 24: watchOS - Market size and forecast 2020-2025 ($ million)
      • Exhibit 25: watchOS - Year-over-year growth 2020-2025 (%)
    • 6.4 Tizen - Market size and forecast 2020-2025
      • Exhibit 26: Tizen - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: Tizen - Year-over-year growth 2020-2025 (%)
    • 6.5 Wear OS - Market size and forecast 2020-2025
      • Exhibit 28: Wear OS - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Wear OS - Year-over-year growth 2020-2025 (%)
    • 6.6 Others - Market size and forecast 2020-2025
      • Exhibit 30: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 31: Others - Year-over-year growth 2020-2025 (%)
    • 6.7 Market opportunity by Operating system
      • Exhibit 32: Market opportunity by Operating system

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 34: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 35: Geographic comparison
    • 8.3 North America - Market size and forecast 2020-2025
      • Exhibit 36: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
    • 8.4 APAC - Market size and forecast 2020-2025
      • Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
    • 8.5 Europe - Market size and forecast 2020-2025
      • Exhibit 40: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: Europe - Year-over-year growth 2020-2025 (%)
    • 8.6 South America - Market size and forecast 2020-2025
      • Exhibit 42: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: South America - Year-over-year growth 2020-2025 (%)
    • 8.7 MEA - Market size and forecast 2020-2025
      • Exhibit 44: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 45: MEA - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 46: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 47: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Competitive scenario
            • 10.2 Vendor Landscape
              • Exhibit 49: Vendor landscape
            • 10.3 Landscape disruption
              • Exhibit 50: Landscape disruption
              • Exhibit 51: Industry risks

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 52: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 53: Market positioning of vendors
            • 11.3 Alphabet Inc.
              • Exhibit 54: Alphabet Inc. - Overview
              • Exhibit 55: Alphabet Inc. - Business segments
              • Exhibit 56: Alphabet Inc. - Key offerings
              • Exhibit 57: Alphabet Inc. - Segment focus
            • 11.4 Apple Inc.
              • Exhibit 58: Apple Inc. - Overview
              • Exhibit 59: Apple Inc. - Business segments
              • Exhibit 60: Apple Inc.- Key news
              • Exhibit 61: Apple Inc. - Key offerings
              • Exhibit 62: Apple Inc. - Segment focus
            • 11.5 Fossil Group Inc.
              • Exhibit 63: Fossil Group Inc. - Overview
              • Exhibit 64: Fossil Group Inc. - Business segments
              • Exhibit 65: Fossil Group Inc. - Key offerings
              • Exhibit 66: Fossil Group Inc. - Segment focus
            • 11.6 Garmin Ltd.
              • Exhibit 67: Garmin Ltd. - Overview
              • Exhibit 68: Garmin Ltd. - Business segments
              • Exhibit 69: Garmin Ltd.- Key news
              • Exhibit 70: Garmin Ltd. - Key offerings
              • Exhibit 71: Garmin Ltd. - Segment focus
            • 11.7 Lenovo Group Ltd.
              • Exhibit 72: Lenovo Group Ltd. - Overview
              • Exhibit 73: Lenovo Group Ltd. - Business segments
              • Exhibit 74: Lenovo Group Ltd.- Key news
              • Exhibit 75: Lenovo Group Ltd. - Key offerings
              • Exhibit 76: Lenovo Group Ltd. - Segment focus
            • 11.8 LG Corp.
              • Exhibit 77: LG Corp. - Overview
              • Exhibit 78: LG Corp. - Business segments
              • Exhibit 79: LG Corp.- Key news
              • Exhibit 80: LG Corp. - Key offerings
              • Exhibit 81: LG Corp. - Segment focus
            • 11.9 Mobvoi Information Technology Co. Ltd.
              • Exhibit 82: Mobvoi Information Technology Co. Ltd. - Overview
              • Exhibit 83: Mobvoi Information Technology Co. Ltd. - Product and service
              • Exhibit 84: Mobvoi Information Technology Co. Ltd. - Key offerings
            • 11.10 Nexxbase Marketing Pvt. Ltd.
              • Exhibit 85: Nexxbase Marketing Pvt. Ltd. - Overview
              • Exhibit 86: Nexxbase Marketing Pvt. Ltd. - Product and service
              • Exhibit 87: Nexxbase Marketing Pvt. Ltd. - Key offerings
            • 11.11 OnePlus Technology Co. Ltd.
              • Exhibit 88: OnePlus Technology Co. Ltd. - Overview
              • Exhibit 89: OnePlus Technology Co. Ltd. - Product and service
              • Exhibit 90: OnePlus Technology Co. Ltd.- Key news
              • Exhibit 91: OnePlus Technology Co. Ltd. - Key offerings
            • 11.12 Samsung Electronics Co. Ltd.
              • Exhibit 92: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 93: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 94: Samsung Electronics Co. Ltd.- Key news
              • Exhibit 95: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 96: Samsung Electronics Co. Ltd. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 97: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 98: Research Methodology
                • Exhibit 99: Validation techniques employed for market sizing
                • Exhibit 100: Information sources
              • 12.4 List of abbreviations
                • Exhibit 101: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
              Get your FREE sample now!
              The smartwatch market market growth will increase by $$ 27.96 bn during 2022-2025.
              The smartwatch market market is expected to grow at a CAGR of 18.79% during 2022-2025.
              Technavio has segmented the smartwatch market market by type (Integrated and standalone) ,other 1 (WatchOS, tizen, wear OS, others, and MEA) , and geography (North America, APAC, Europe, South America, and MEA).
              Alphabet Inc., Apple Inc., Fossil Group Inc., Garmin Ltd., Lenovo Group Ltd., LG Corp., Mobvoi Information Technology Co. Ltd., Nexxbase Marketing Pvt. Ltd., OnePlus Technology Co. Ltd., Samsung Electronics Co. Ltd. are a few of the key vendors in the smartwatch market market.
              North America will register the highest growth rate of 56% among the other regions. Therefore, the smartwatch market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • China
              • South Korea (Republic of Korea)
              • Canada
              • Japan
              The key factors driving the smartwatch market market growth are:
              • Technological advances in the semiconductor industry
              • Increasing number of patent filings by smartwatch manufacturers
              The smartwatch market market vendors should focus on grabbing business opportunities from the integrated segment as it accounted for the largest market share in the base year.
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