New York, Aug. 16, 2022 (GLOBE NEWSWIRE) -- This updated analysis on the smart watch market by skilled analysts at Persistence Market Research’s predicts the industry to surge at a CAGR of 19% and reach an estimated value of US$ 120 Bn by 2031.
Smart devices have gained immense popularity over the past decade and have seen a substantial rise in demand and sales alike. Smart watches are devices that are capable of performing multiple tasks and are equipped with sensors that allow them to monitor various health parameters such as heart rate and calorie consumption, which makes them a popular choice among health-aware people and tech-savvy people alike.
Increasing adoption of smart devices, rising demand from emerging economies, increasing disposable income, and rising technological proliferation are some of the major factors driving demand for smart watches.
Request for sample PDF of report: https://www.persistencemarketresearch.com/samples/19378
Prime manufacturers are investing in expanding their product portfolios to meet rising demand for more advanced and feature-heavy smart watches that are capable of performing multiple tasks.
- In September 2021, Withings, a French consumer electronics company, announced the launch of its new cardiac-monitoring smartwatch with a luxury look. The ScanWatch Horizon is equipped with multiple heart health features.
- In November 2021, Motorola announced the launch of its smartwatch - Moto Watch 100. The watch is the first to run on Motorola’s proprietary Moto OS, which is claimed to be focused on health with a battery life of 14 days.
Get customized report as per requirement: https://www.persistencemarketresearch.com/request-customization/19378
Key Takeaways from Market Study
- Over the next ten years, the global smart watch market is estimated to rise at a CAGR of 19%.
- Demand for smart watches from the Asia Pacific region is expected to be highest among all regions.
- Rising proliferation of technology, increased demand for smart devices from emerging economies, and high demand from the millennial population are some of the major factors driving smart watch sales.
- By the end of the decade, market sales revenue is estimated to top US$ 120 Bn.
- Apple, Samsung, and Garmin are leading smart watch manufacturers in terms of sales and market share.
“Demand from economies such as India and China is expected to be majorly influential in shaping the smart watch market on a global scale,” says a Persistence Market Research analyst.
Know the methodology of report: https://www.persistencemarketresearch.com/methodology/19378
Competitive Landscape
The global market for smart watches has been identified as a fairly fragmented space due to the presence of a high number of market participants.
Some of the key market players included in the report are Fitbit Inc., Samsung Electronics Co. Ltd, Sony Corporation, Garmin Ltd., Fossil Group Inc., Huawei Technologies Co. Ltd., Xiaomi Corporation, Nokia Corporation (Withings), and LG Electronics Inc.
The above are identified as key suppliers of smart watches. These market participants are engaged in market expansion activities and are investing in expanding their product portfolios to boost their sales across various geographies.
Get full access of report: https://www.persistencemarketresearch.com/checkout/19378
More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a revised market research report on the global smart watch market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides an in-depth analysis of the market through different segments, namely, type, operating system, age group, price range, sales channel, and region. The report also provides supply and demand trends along with an overview of the parent market.
Other Trending Report
- Building Automation Systems Market
- Consumer Electronics Market
- Analog IC Market
- Chipless RFID Market
- Automated Fare Collection System Market
- Electronic Locks Market
- Portable Bluetooth Speakers Market
- Home Theater Audio Systems Market
- Home Security Products and Solutions Market
- Selfie Accessories Market
About Persistence Market Research:
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Overview:
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Visit Our Website: https://www.persistencemarketresearch.com
