The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global smart watch market size is expected to grow from $60.14 billion in 2022 to $64.41 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The market size of the global smart watch is expected to grow to $84.05 billion in 2027 at a CAGR of 6.9%.

What will drive the smart watch market?
The increasing health awareness among consumers is a key factor driving the growth of the smartwatch market.

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Who are the major players in the market?
Major players in the smart watch market are Apple Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, Huawei Technologies Co. Ltd., Fossil Group Inc., and Google Inc.

Which trend is gaining popularity in the smart watch market?
Internet of things (IoT) driven smart watches is highly preferred choice of smart watches. Smart watches connected to the internet offer a wide range of features such as time, health monitoring, and fitness tracking, receives calls and messages, entertainment, cardless payments, and connectivity to other IoT devices to improve the quality of the user’s life. With increasing consumer’s interests towards health and fitness, convenience in day-to-day activities and smart homes, wearable IoT devices such as smart watches offer various features.

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How is the smart watch market segmented?
Global Smart Watch Market Segments Include:

• By Product: Extension, Standalone, Classical
• By Application: Personal Assistance, Wellness, Healthcare, Sports, Other Applications
• By Display Type: AMOLED, PMOLED, TFT LCD
• By Operating System: Watch OS, Android/Wear OS, Other Operating Systems
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global smart watch market in 2021.

The Smart Watch Global Market Report 2023  provides an overview of the smart watch market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The smart watch market forecast analyzes smart watch market size, smart watch market share, leading competitor and their market positions.

A smartwatch is a computer-based wristwatch that provides many other features besides timekeeping such as monitoring the heart rate, tracking activity, and delivering day-round reminders. Smartwatches are used in medical, sports, gaming, and personal assistance.

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