NEW YORK, April 21, 2022 /PRNewswire/ -- The size of the smartwatch market is expected to grow by USD 27.96 bn from 2020 to 2025. According to Technavio, the growth momentum of the market will accelerate at a CAGR of 18.79% during the forecast period.
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Smartwatch Market 2021-2025: Vendor Analysis and Scope
To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market. Some of the major vendors of the smartwatch market include 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.
The report also covers the following areas:
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Smartwatch Market 2021-2025: Driver
Technological advances in the semiconductor industry are driving the market growth. Consumers prefer smartwatches that have a sleek and small design and a high operational efficiency. Technological advances in electronic components, such as chip system on a chip (SoC) technology and microelectromechanical systems (MEMS), are providing opportunities for smartwatch manufacturers to develop small, compact, and low power-consuming smartwatches. Advances in SoC technology have enabled vendors to reduce the printed circuit board space and integrate a significant number of electronic components in smartwatches. The development of MEMS technology has enabled vendors to integrate a large number of features into a single device. It has also 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.
Smartwatch Market 2021-2025: Segmentation
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Smartwatch Market 2021-2025: Regional Analysis
The market will be dominated by North America during the forecast period, with a share of 56%. North America is one of the lucrative markets for smartwatch manufacturers. This region is an early adopter of advanced technologies. The US is estimated to account for a major share of the market in North America during the forecast period. The increase in disposable income, the emergence of built-in LTE smartwatches, and the rise in health and fitness-focused features in smartwatches will drive the smartwatch market growth in North America during the forecast period.
Smartwatch Market 2021-2025: Key Highlights
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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 |
USD 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 |
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 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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Table of Contents
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Operating system
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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