Smartwatches Market Size, Share and Trends Analysis Report 2022-2030 with Competitive Analysis of Apple, Fit Bit, Fossil, Garmin, Huawei Technologies, Huami, Lenovo, LG Electronics, Noise and Samsung – Yahoo Finance

Global smartwatch market

Dublin, 09 Dec. 2022 (GLOBE NEWSWIRE) — The Smartwatch Market Size, Share and Trend Analysis by Price Band, by Display Technology (LCD, OLED), by Region and Segment Forecast, 2022 -2030” was added to from ResearchAndMarkets.com offer.

The global smartwatch market size is expected to reach USD 71,565.3 million by 2030, registering a CAGR of 8.2%

Growing awareness of health and fitness coupled with growing demand for the connected ecosystem are some of the major factors driving the growth of the market. Moreover, the presence of multiple smartphone-like features with high demand for aesthetically appealing smart devices acts as a vital buying motivation for the consumer.

COVID-19 has created working from home during the pandemic, increasing the demand for various computer accessories, including smartwatches. These devices can easily be used to manage work schedules, read notifications and messages, and answer calls via Bluetooth. For example, in April 2022, Garmin Ltd launched quatix 7 smartwatches with marine GPS capabilities with Garmin marine’s long-lasting battery.

It also has navigation functions with an AMOLED screen for better clarity. Smartwatches enable connectivity of multiple devices, such as smartphones and wireless headphones, making it possible to answer calls, listen to and control music, and other tasks while performing day-to-day tasks. the House.

The growing demand for new and improved features is catalyzing advancements in the market. Smartwatch vendors are focusing on launching products with differentiated features in different price brackets. Companies such as realme, Noise, Huami, Boltt and others have introduced entry-level devices to the Asia-Pacific market, offering multiple innovative features at affordable prices.

These smartwatches come with fitness tracking, voice assistants, health monitoring, and Bluetooth calling, similar to high-end smartwatch brands. These factors add to the multifunctionality of smartwatches for various applications, which is expected to contribute to the growth of the market.

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Smart Watches Market Report Highlights

• The 200-299 USD price range segment is expected to show strong growth of 10.4% throughout the forecast period. The launch of several smartwatches by premium brands in this price range and the popularity of the Apple watch are the major factors contributing to the growth of the market.

• The OLED segment held a large revenue share of over 91.5% in 2021, and it is expected to maintain its dominance over the forecast period. OLED displays allow manufacturers to produce flexible displays in different screen sizes without compromising image quality, which has been driving this segment in the smartwatch market.

• North America led the largest revenue share of over 44.0% in 2021 due to increased focus on health and fitness amid the pandemic and early availability as well as adoption of the technology across the region

• Several companies are focusing on improving their smartwatches by incorporating various technological advancements. Additionally, they are engaged in partnerships, mergers and acquisitions to improve their products.

Competitive landscape

• Apple Inc.

• Imagine Marketing Private Limited (Ship)

• FitBit, Inc.

• Fossil Group, Inc.

• Garmin Ltd.

• Huawei Technologies Co.Ltd.

• Huami Co.Ltd.

• Lenovo

• LG Electronics

• Noise

• Samsung Electronics Co.Ltd.

For more information on this report visit https://www.researchandmarkets.com/r/s3t66c

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