Smartwatches are wearable computing devices that resemble wristwatch but come with added advanced features such as weather update, messaging, enable call making, connection to the internet, Bluetooth-enabled, GPS, and more. Moreover, it also offers an answering messages by voice and fitness tracking app. Apart from all these features, some of the smartwatches are also Bluetooth-enabled which allows it to connect it with a smartphone.

Market Dynamics

Increasing launch of design and gender bases smartwatches is projected to serve major market opportunities over the forecast period. Moreover, the growing demand for smartwatches that match the Metropolitan lifestyle is again projected to propel the market growth. For instance, in January 2020, Timex partners with Huami to introduce two Metropolitan smartwatches. The product is categorized as lifestyle-focused Metropolitan smartwatch collection and feature software that was developed in partnership with Huami. It has impressive high-resolution AMOLED touch display with vibrant colors that look bright under any ambient light condition. The watch has two weeks of battery life.

Market Opportunities

Continuous product innovation by key players is projected to bring new market opportunities over the forecast period. For instance, in December 2019, Garmin has launched the Venu and Vivoactive 4 smartwatches in India. Venu smartwatch is the first watch from the company that will have an AMOLED screen. Both the smartwatches contain over 40 on-device animated workouts for strength training, cardio, yoga, and pilates.

A growing number of people participating in the sports activity due to increasing adoption of a healthy lifestyle is expected to offer lucrative opportunities for smartwatches. Moreover, the growing popularity of smartwatches among almost all age-groups is also expected to boost the adoption of these watches. Moreover, rising demand for cellular-connected wearable devices is further projected to foster the market growth of thesmartwatches.

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Detailed Segmentation:

Global Smartwatches Market, By Price Range:

High-End smartwatches

Mid-End smartwatches

Low-End smartwatches

Global Smartwatches Market, By Operating System:

Android Wear

Watch OS (iOS)

Others

Forage and Turf Grasses

Major Keyplayers: Pebble Technology Corporation, Samsung Electronics Co. Ltd., Nike Inc., Garmin Ltd., Sony Electronics Inc., Fitbit Inc., Martian Watches, ConnecteDevice Ltd. (COOKOO), and Apple Inc.

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