Global Smartwatch Market is valued at approximately USD 30.43 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2022-2029.

A smartwatch is a variety of wearable computer that enables the individual a local touchscreen interface for daily use and it also present unique insights into users' location and health-related information. The growing health awareness among consumers, rising inclination for fitness tracking and health monitoring features, and increasing spending power of the population are the key factors that are spurring the market demand around the world.

The propelling demand for wearable devices among the population is likely to act as a catalyzing factor for market growth. According to Statista, the number of connected wearable devices worldwide was valued at 593 million in 2018, which is projected to reach 1,105 million devices by the end of 2022. Accordingly, the smartwatch enables users to keep track of their health status which is gaining high traction, thus, in turn, stipulating the growth of the market. Moreover, the rising technological advancements in the smartwatch, as well as the increasing availability of products on various e-commerce platforms are likely to create various opportunities in the foreseen years. However, the growing complexity of wearable devices and the availability of substitute products are hindering market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Smartwatch Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the high technology adoption and presence of well-established market players. Whereas, the Asia Pacific is expected to grow with the highest CAGRduring the forecast period. Factors such as a rising inclination toward smart wearables, as well as increasing disposable income, are burgeoning the market growth in the forecasting years.

Major market players included in this report are:

Apple Inc.

Samsung Electronics Co., Ltd

Garmin Ltd

Fitbit Inc.

Fossil Group Inc.

Huawei Technologies Co., Ltd

Sony Corporation

Lenovo Group Limited

Zepp Health Corporation

LG Electronics Inc.

Recent Developments in the Market:

In June 2022, Apple Inc. unveils its new watchOS 9 with the latest features and better experiences for the wearable operating system. The new product offers more information and opportunity for personalization. In the updated Workout app, advanced metrics, views, and training experiences inspired by high-performing athletes help users take their workouts to the next level.
In January 2022, Fossil and Razer entered into a partnership agreement with the aim of introducing a limited-edition smartwatch- the Razer X Fossil Gen 6 Smartwatch. The co-branded wearable influences Fossil's innovative smartwatch platform and features three exclusive Razer watch faces, such as Text, Analog, and Chroma, and two stylish interchangeable straps.
Global Smartwatch Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Operating System, Display Type, End User, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Operating System:

Watch OS

Wear OS

Other Operating Systems

By Display Type:

AMOLED

PMOLED

TFT LCD e

By End User:

Personal Assistance

Medical

Sports

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World