Smartwatch Market Growing to Unveil a Remarkable CAGR of 8.70% By 2030

 Market Definition

A smartwatch is a wearable computing device similar to a wristwatch or other time-keeping device. In addition to showing time, several smartwatches are Bluetooth-capable. This watch becomes a wireless Bluetooth adaptor and is capable of prolonging the capabilities of the wearer's smartphone to the watch. The user can use this watch to initiate and answer phone calls from their mobile phone, get weather reports, listen to music, read email and text messages, dictate email and text messages, and ask a digital assistant.

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 Smartwatch Market Analysis and Size

Several manufacturers have introduced many upgraded smartwatches with advanced health monitoring features such as a stress monitor, electrocardiograms, a calorie counter, blood oxygen and SpO2 sensors and many more. Numerous companies such as Fossil Group, Inc., Samsung, Noise, Fitbit and more are introducing smartwatches with advanced and upgraded features. For instance, Apple, Inc. launched the new Apple Series 7 smartwatch model in September 2021 that features many health monitoring functions, such as blood oxygen saturation, electrocardiogram (ECG) sensor, improved fall detection, native sleep tracking, and heart health monitoring.

Data Bridge Market Research analyses that the smartwatch market was valued at USD 33,081.86 million in 2022 and is expected to reach USD 64,480.18 million by 2030, registering a CAGR of 8.70% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

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Global Smartwatch Market Scope

The smartwatch market is segmented on the basis of product type, application, operating system, processor, ram, display type, price range, distribution channel and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Global Smartwatch Market, By Product Type (Extension, Standalone and Classic/ Hybrid), Application (Personal Assistance and Safety, Health/ Wellness, Media And Entertainment, Sports, Communication and Others), Operating System (Wear OS, Watch OS, Firefox OS, Tizen, Asteroid OS, Sailfish OS, Ubuntu Touch and Others), Processor (Single-Core, Dual-Core, Quad-Core and Apple S1), RAM (512 MB, 1 GB, 2 GB, 3 GB and 4 GB), Display Type (OLED, LCD and Interferometric Modulator Display), Price Range (High-End Smartwatches, Mid-End Smartwatches and Low-End Smartwatches), Distribution Channel (Direct Sales, E-Commerce, Retail Stores and Others), End User (Male, Female) – Industry Trends and Forecast to 2030.

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