By Application, the Medical and Fitness application is expected to have the highest growth rate. For instance, Apple features a fall detection app and an EKG monitor to the Apple Watch Series 4, while Fitbit added a feature to detect sleep apnea. Wristbands. 22.7%. We are monitoring the impact of COVID-19 on Smartwatch Market, Get in touch with us for detailed analysis, As per our market analysis report, the worth of the global, As per the recent smartwatch market trends, the demand and usage of smartwatches are hiking new heights year by year. Also, the high obese and overweight population in North America leads to an increase in the use of smartwatches to track parameters like the number of steps, calories burnt, pulse rate, etc. Manufacturers shipped 12 million smartwatches during the second quarter of 2019, a 44% increase over the same quarter last year, market analyst Strategy Analytics reported Tuesday. The Indian smartwatch market is forecasted to grow at a healthy rate during the forecast period. Based on the product type, the Standalone market segment leads with the highest shares of the market with the rise in awareness over the advanced versions of the products at affordable prices. For instance, in March 2020, the ECG smartwatch manufacturer, Vagus, introduced a crowd-sourced data-collection campaign to be carried out via its ECG watches. The U.S. Smartwatch market had accounted for the leading share globally and predicted the same to be continuing throughout the forecast period. Smartwatch device unit sales in the U.S. 2016-2020 Published by Statista Research Department, Jan 22, 2021 In 2019, an estimated 20.1 million smartwatches were sold in the United States. Smartwatch Market Share: Analysis, Size, and Forecast Market Analysis Smartwatch Market Size The size of the global smartwatch market will experience positive growth through 2021, registering a CAGR of over 16% due to the high demand for wireless health monitoring. MARKET OPPORTUNITIES AND FUTURE TRENDS, Nanakramguda Rd, Financial District, Gachibowli. To understand geography trends, Download Sample Report. The Asia-Pacific is expected to witness the highest growth in the smartwatch market due to the growing consumer electronics industry, coupled with a rapid rise of smartwatch market vendors across the emerging economies of the region. On the basis of operating system in 2019, the android system has accounted the largest market share of 54.9% in terms of value, followed by others and watch OS (iOS) respectively. The smartwatch measures the variation in Blood pressure to be aware of his/her blood pressure activity. According to the survey from Rock Health on digital health adoption, in 2019, wearable adoption increased rapidly from 24% in 2018 to 33% in 2019. Vendor. Q1 2020 shipments (million) Q1 … Since every smartwatch has a component of a fitness tracker, the popularity growth of the smartwatch is increasing significantly, as it has multi-functional features for recording health parameters. In March 2020, scientists came up with a new DETECT study to investigate if wearable devices such as smartwatches and fitness trackers might detect the COVID-19 symptoms. . While Apple is the clear market leader, the new Smartwatch Total Market Report reveals that the top three brands (Apple, Samsung, and Fitbit) made up 88 percent of smartwatch unit sales during the timeframe. . Apple is the clear Smartwatch Market Share leader with 48% of the 2018 global Smartwatch market, followed by Fitbit with 12% share and Samsung with 11% share. Technological and device complexity are some other restraints for the, Based on the product type, the Standalone market segment leads with the highest shares of the market with the rise in awareness over the advanced versions of the products at affordable prices. The accelerometers built into smartwatches can potentially be deployed to detect seizures and tremors, particularly with conditions, like epilepsy. In March 2020, the ECG manufacturers introduced a crowdsourced data campaign to use ECG watches. Smartwatch Industry 2020 Research Report may be a professional and in-depth study on the present state of the worldwide Smartwatch industry. The study covers the market based on the operating system being used and the application of smartwatches in various end-user industries across the world. 69.3. In recent times we have seen that there has been a severe downfall in almost all sectors of the economy due to the sudden outbreak of the COVID-19 pandemic. This has led to propel the demand of the market. A new versatile research report on “Global Smartwatch Market Size, Share, Growth and Forecast 2021-2027” is aimed at promising a … . Lack of consumer awareness about the utilities of a smartwatch is impeding the demand of the market. The World Health Organization (WHO) has announced COVID-19 as an emergency healthcare issue in March 2020. pandemic time has sparkled on the wearable devices like the smartwatches industry. The major focus of smartwatch vendors in North America is smartwatches offered between US$ 200 TO US$ 299 price segment. These players are continuously working on technological advancements and product innovation to maintain and stabilize their market position and to gain a better global smartwatch market share. Geographically, the North American Smartwatch Market is witnessed in holding the highest shares of the market due to increased technological applications. Furthermore, smartwatches help doctors by giving some critical and complex information immediately is one factor to set up growth opportunities for the market. Smartwatches have tech advancements that can monitor and track heart health, estimated to support market growth. Global shipments of wearable devices reached 49.6 million units during the first quarter of 2019 (1Q19), up 55.2% from the previous year according to data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker. © 2020. Get more information on this report : Req… The Smartwatch Market in the Middle East and Africa is expected to have inclined growth rates in the review period. © 2019 Market Data Forecast All Rights Reserved. Medical professionals are being backed by this data in solving puzzles, like what would be the impact of a new drug, or the constant monitoring of recovery status of an operated patient and much more. Click here. 14.3%. Smartwatch Market - Growth, Trends, COVID-19 Impact, and Forecasts (20... Owing to the rising penetration rates of urbanization, the demand for aesthetically appealing advanced products with the ability to better serve the consumers’ requirements, such as time schedules, multiple features in one device, has been driving the demand for smartwatches globally. Global Kids' Smartwatch Market However, the usage of smartwatches has increased in medical treatments during the pandemic to monitor the COVID 19 affected patients' activities.
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