In a recently published report, Kennet Global Smart Watches Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Smart Watches Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Smart Watches are electronic devices which are worn like watches but are equipped to do a lot more than an average watch.These stand alone or Smartphone dependent devices are can show Notification from Phone, Record Physical Activities, monitor heart rate, Make and Take calls, Search on The Web by listening to a voice command and in some cases can even capture photographs.
These smart gadgets have started receiving a lot of crowd attention in the market and are estimated to grow a lot more than imagined, given, the convenience and the flexible functionality of smartwatches. These are becoming popular for providing hands-free control and access to data anywhere at any time of the day. Apart from this, biometric functionality, GPS and mapping capability and smartphone independent functionality are also a few unique features of these smart gadgets.
These timepieces are also capable of detecting the physical movements of the user and are therefore capable of giving accurate details about Steps Walked, Calories Burnt, Active Time, etc. These factors greatly people’s decision to buy these Smartwatches.
The only problem with these watches is that they do not have a good battery life which inhibits the continuous usage of these watches.
The watches can be classified on the basis of the screen they use. The prominent options available are LED, e-paper and LCD. The LED ones are the most capable and can show text, Images and Videos. The e-paper displays are also capable of showing text, images and have a good Battery life but the only con is that they are restricted to monochrome.LCD Displays can only show text but have the best battery life which may last for a month or two.
Price is also an important differentiating factor among the watches. The more expensive ones like Apple Watch or Gear S3 are even capable of acting on voice commands other than just showing notifications on a different screen. The cheaper watches act as a secondary display for the phones but can act as a separate phone itself because few of them have a SIM slot that can be used to make and take calls or send SMS.
The market for smartwatches is witnessing a double-digit growth rate globally. Currently, North America is a prominent source of revenue for Smart Watches and according to estimates, it contributes almost 1/3rd of the market revenue. However, in the near future, the growth of the market is expected to be driven by the Asia-Pacific region with China and India acting as a popular hub given their large population and the manufacture and sales of the low-cost Smart-watches which are based on Android.
Large Tech Companies like Apple, Samsung, Motorola, etc. are the Market Leaders but Sports Companies and Watch Maker Companies are also growing significantly too. A small Market Share is also controlled by Small Companies that manufacture low-cost watches and are improving too.
Report ContentsRegional AnalysisReport Highlights
Global Market segments
Global Market Drivers, Restraints and Opportunities
Global Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and the Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
The Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of the Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market Dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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