Increasing Consumer Health Awareness Is Driving The Smart Watch Industry

The Business Research Company’s Smart Watch Global Market Report 2021: COVID-19 Growth And Change to 2030

LONDON, GREATER LONDON, UK, April 26, 2021 /EINPresswire.com/ -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

Increasing health awareness among consumers is a key factor driving the growth of the smartwatch market. Through a smartwatch, the user can take the necessary precautions in advance according to their health. Doctors can easily monitor the health status of patients remotely and can maintain, prescribe or treat them as required. For example, the new Apple watch series 5 is capable of tracking heart rate, nervous system activities, emergency or inactivity warnings, and health events. According to the Rock Health 2019 study, wearable use was around 33% for 2018 and 2019, while the digital health tracking increased steadily from 38% in 2018 to 42% in 2019. An increasing number of people are using digital tools such as smartwatches to address critical health needs rather than just exercise tracking. Therefore, the increase in health awareness among the consumer is expected to drive the smartwatch market.

The smart watch market consists of sales of smart watches and related services that are used in medical, sports, gaming, and personal assistance. A smart watch is a computer-based wristwatch that provides many other features besides timekeeping. This includes monitoring the heart rate, tracking the activity, and delivering day-round reminders.

The smart watch market covered in this report is segmented by product into extension, standalone, classical and by application into personal assistance, wellness, healthcare, sports, others, by display type into AMOLED, PMOLED, TFT LCD, and by operating system into watch OS, Android/wear OS, other operating systems.

Read More On The Global Smart Watch Market Report:
https://www.thebusinessresearchcompany.com/report/smart-watch-market-global-report-2020-30-covid-19-growth-and-change

The global smart watch market is expected grow from $49.74 billion in 2020 to $59.02 billion in 2021 at a compound annual growth rate (CAGR) of 18.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $99.84 billion in 2025 at a CAGR of 14%. The regions with smart watch market shares are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The major players covered in the global smart watch market are Apple Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, Huawei Technologies Co. Ltd., Fossil Group Inc, Google Inc., Lenovo Group Ltd, Pebble, Qualcomm, TomTom International BV, ASUSTeK Computer Inc., ConnectDevice Ltd, Huami Corp, Mobvoi Information Technology Company Ltd.

Smart Watch Global Market Report 2021: COVID-19 Growth And Change to 2030 is one of a series of new reports from The Business Research Company that provides smart watch market overview, forecast smart watch market size and growth for the whole market, smart watch market segments, and geographies, smart watch market trends, smart watch market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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