Smartwatch Market Size, Share, Forecast, & Trends Analysis by Operating System, Display Type, Sales Channel, Application, and Geography

Description

List of Tables

Smartwatch Market by Operating System (Android, iOS, Tizen), Display Type (AMOLED, TFT LCD, LCD, Transflective LCD), Sales Channel, Application (Personal Assistance, Health/Wellness, and Sports) and Geography-Forecast to 2031.

The research report titled 'Smartwatch Market by Operating System (Android, iOS, Tizen), Display Type (AMOLED, TFT LCD, LCD, Transflective LCD), Sales Channel, Application (Personal Assistance, Health/Wellness, and Sports) and Geography-Forecast to 2031' provides an in-depth analysis of smartwatch market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The smartwatch market is projected to reach $78.2 billion by 2031, at a CAGR of 8.9% from 2024-2031.

The growth of this market can be attributed to several factors, such as the growing emphasis on health & fitness tracking, rising technological advancements in wearable devices, and the growing popularity of fashion-forward design. However, the high cost of superior-quality smartwatches may restrain the growth of this market. Furthermore, the increasing demand for personalized AI assistance is expected to offer growth opportunities for the players operating in this market. However, safety, security, and privacy concerns are a challenge impacting the growth of the smartwatch market. Additionally, increasing demand for connectivity and communication upgrades is a prominent trend in this market.

The smartwatch market is segmented by operating system (Android, iOS, Tizen, and other operating system), display type (AMOLED, TFT LCD, LCD, E-ink display, and transflective LCD), sales channel (online, offline), application (personal assistance, health/wellness, sports, media & entertainment, and other applications) and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.

Based on Operating System, the smartwatch market is segmented into Android, iOS, Tizen, and other operating systems. In 2024, the iOS segment is expected to account for the largest share of 54.0% of the smartwatch market. The segment's large share is attributed to the technological advancements in the iOS operating system, growing emphasis on health & wellness monitoring, strong penetration of Apple products, and increasing demand for connectivity and communication upgrades. In addition, the benefits offered by the iOS segment, such as seamless integration with the Apple ecosystem, health & fitness tracking, security privacy, and personal safety features, contribute to this segment's growth.

Also, this segment is projected to register the highest CAGR during the forecast period of 2024-2031.

Based on Display Type, the smartwatch market is segmented into AMOLED, TFT LCD, LCD, E-ink display, and transflective LCD. In 2024, the AMOLED segment is expected to account for the largest share of 75.0% of the smartwatch market. The segment's large share is attributed to the rising demand for high image quality & low power consumption and the increasing need for wider angles without distortion of picture quality.

In addition, the benefits offered by the AMOLED segment, such as better outdoor visibility, wider viewing angles, thin and lightweight design, and lower power consumption, contribute to this segment's growth. Also, several leading key players are taking initiatives to redefine their business strategies. For instance, in May 2023, Garmin International, Inc. (U.S.) launched its Epix Pro Series, its next-gen high-performance GPS smartwatch with a crystal-clear AMOLED display, rugged design, and impressive battery life. Also, this segment is projected to register the highest CAGR during the forecast period of 2024-2031.

Based on Sales Channel, the smartwatch market is segmented into online and offline. In 2024, the offline segment is expected to account for the larger share of 70.0% of the smartwatch market. The segment's large share is attributed to personalized customer interactions, local market presence, and tangible product experiences.

However, the online segment is projected to register the highest CAGR during the forecast period. The growing preference for personalization, contactless shopping, consumer convenience, easy price comparisons between brands, the advantage of greater discounts compared to offline stores, and a greater product selection experience are some of the factors expected to support the growth of this segment.

Based on Application, the smartwatch market is segmented into personal assistance, health/wellness, sports, media & entertainment, and other applications. In 2024, the personal assistance segment is expected to account for the largest share of 40.0% of the smartwatch market. The segment's large share is attributed to the rising demand for personalized fitness coaching, increasing demand for personalized AI assistance, the growing popularity of fashion-forward design, and the rising demand for task management and reminders.

However, the health/wellness segment is projected to register the highest CAGR during the forecast period. The growing emphasis on health & fitness tracking and rising consumer awareness regarding health monitoring are expected to support the growth of this segment. In addition, the benefits offered by the health/wellness segment, such as sleep tracking, fitness tracking, blood oxygen level monitoring, and heart health monitoring, contribute to this segment's growth. Also, several leading key players are taking initiatives to improve productivity. For instance, in July 2023, Samsung Electronics Co., Ltd. (South Korea) launched its new Galaxy Watch6 and Galaxy Watch6 Classic. This new Galaxy Watch6 series provides personalized health guidance, purposeful design upgrades, and an enhanced mobile experience for a more informed and healthier self.

Based on Geography, the smartwatch market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 43.0% of the smartwatch market. Asia-Pacific's large market share is attributed to the increasing penetration rate of urbanization, growing emphasis on health & fitness tracking, and rising technological advancement in wearable devices. Furthermore, the presence of prominent players offering smartwatches supports market growth. For instance, in June 2022, Garmin International, Inc. (U.S.) launched its vivosmart 5 in India, a comfortable, easy-to-read smart fitness tracker featuring Garmin's most advanced sleep features, including sleep score.

Moreover, the Asia-Pacific region is projected to register the highest CAGR of 10.0% during the forecast period.

The key players operating in the smartwatch market are Apple Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Fossil Group, Inc. (U.S.), Garmin International, Inc. (U.S.), Fitbit Inc. (U.S.) (A part of Google LLC), Huawei Technologies Co., Ltd. (China), Sony Corporation (Japan), LG Electronics, Inc. (South Korea), Boltt Games Pvt. Ltd. (India), ASUSTeK Computer Inc. (Taiwan), Honor Device Co., Ltd. (China), and Polar Electro (Finland).

Key Questions Answered in the Report:

What are the high-growth market segments in terms of operating systems, display type, sales channel, and application?
What is the historical market size for the smartwatch market?
What are the market forecasts and estimates for 2024-2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the smartwatch market?
Who are the major players in the smartwatch market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the smartwatch market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the smartwatch market, and how do they compete with other players?

Scope of the Report:

Smartwatch Market Assessment-by Operating System

Android
iOS
Tizen
Other Operating Systems

Smartwatch Market Assessment-by Display Type

AMOLED
TFT LCD
LCD
E-ink Display
Transflective LCD

Smartwatch Market Assessment-by Sales Channel

Online
Offline

Smartwatch Market Assessment-by Application

Personal Assistance
Health/Wellness
Sports
Media & Entertainment
Other Applications

Smartwatch Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Poland
- Switzerland
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Singapore
- South Korea
- Australia & New Zealand
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa

Product Code: MRICT - 1041207

1. Introduction

1.1. Market Definition & Scope
1.2. Currency and Limitations
- 1.2.1. Currency
- 1.2.2. Limitations

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Market Analysis, by Operating System
3.3. Market Analysis, by Display Type
3.4. Market Analysis, by Sales Channel
3.5. Market Analysis, by Application
3.6. Market Analysis, by Geography
3.7. Competitive Analysis

4 Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Drivers
  - 4.2.1.1. Growing Emphasis on Health and Fitness Tracking
  - 4.2.1.2. Rising Technological Advancement in Wearable Devices
  - 4.2.1.3. Growing Popularity of Fashion-forward Design
- 4.2.2. Restraints
  - 4.2.2.1. High Cost of Superior Quality Smartwatches
- 4.2.3. Opportunities
  - 4.2.3.1. Increasing Demand for Personalized AI Assistance
- 4.2.4. Challenges
  - 4.2.4.1. Safety, Security, and Privacy Concerns
4.3. Key Trends
- 4.3.1. Increasing Demand for Connectivity and Communication Upgrades
4.4. Vendor Selection Criteria/Factors Influencing Purchase Decisions
4.5. Case Studies
4.6. Pricing Analysis

5. Global Smartwatch Market Assessment-by Operating System

5.1. Overview
5.2. Android
5.3. iOS
5.4. Tizen
5.5. Other Operating System

6. Global Smartwatch Market Assessment-by Display Type

6.1. Overview
6.2. AMOLED (Active-Matrix Organic Light-Emitting Diode)
6.3. TFT LCD (Thin Film Transistor)
6.4. LCD
6.5. E-ink Display
6.6. Transflective LCD

7. Global Smartwatch Market Assessment-by Sales Channel

7.1. Overview
7.2. Offline
7.3. Online

8. Global Smartwatch Market Assessment-by Application

8.1. Overview
8.2. Personal Assistance
8.3. Health/Wellness
8.4. Sports
8.5. Media & Entertainment
8.6. Other Applications

9. Smartwatch Market Assessment-by Geography

9.1. Overview
9.2. North America
- 9.2.1. U.S.
- 9.2.2. Canada
9.3. Europe
- 9.3.1. U.K.
- 9.3.2. Germany
- 9.3.3. France
- 9.3.4. Spain
- 9.3.5. Italy
- 9.3.6. Poland
- 9.3.7. Switzerland
- 9.3.8. Rest of Europe
9.4. Asia-Pacific
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. India
- 9.4.4. Singapore
- 9.4.5. South Korea
- 9.4.6. Australia & New Zealand
- 9.4.7. Rest of Asia-Pacific
9.5. Latin America
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Rest of Latin America
9.6. Middle East & Africa
- 9.6.1. Saudi Arabia
- 9.6.2. UAE
- 9.6.3. Rest of the Middle East & Africa

10. Competition Analysis

10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
- 10.4.1. Industry Leaders
- 10.4.2. Market Differentiators
- 10.4.3. Vanguards
- 10.4.4. Emerging Companies
10.5. Market Share Analysis

11. Company Profiles

11.1. Apple Inc. (U.S.)
11.2. Samsung Electronics Co., Ltd. (South Korea)
11.3. Fossil Group, Inc. (U.S.)
11.4. Garmin International, Inc. (U.S.)
11.5. Fitbit Inc. (U.S.) (A part of Google LLC)
11.6. Huawei Technologies Co., Ltd. (China)
11.7. Sony Corporation (Japan)
11.8. LG Electronics, Inc. (South Korea)
11.9. Boltt Games Pvt. Ltd. (India)
11.10. ASUSTeK Computer Inc. (Taiwan)
11.11. Honor Device Co., Ltd. (China)
11.12. Polar Electro (Finland)

12. Appendix

12.1. Available Customization