How is Rising Awareness About Health Driving Smartwatch Market?

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In 2017, the global smartwatch market generated a revenue of $10.2 billion, and is predicted to reach $43.8 billion, registering a CAGR of 22.7%, in the coming years. Smartwatches are based on various operating systems (OS) – iOS, Tizen, Android, Pebble OS, and Firefox OS.

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1 © PS Intelligence. All rights reserved Research Methodology Scope of Work Smartwatch Market Feb 11th 2020

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2 © PS Intelligence. All rights reserved Time has always fascinated humans with several instruments such as sundials and wall clocks being invented to measure it. Such devices were rather large and to give people more convenience a reduction in size was considered. In the 17th century wristwatches came along which made it easier for people to see the time from wherever they were. Come 21st century come smartwatches which extended the functionalities of a simple watch way beyond just telling time. Such watches tell people the number of calories burned and heart rate help make calls via the internet or even lock/unlock vehicles. The smartwatch market generated revenue of 10223.9 million in 2017 and it is forecast to grow to over 43000.0 million in 2023. There are three types of watches people can buy: standalone classic and extension. During 2013 –2017 extension smartwatches were the most popular as these can be used as an extension to smartphones. Additionally features such as alerts tracking and connectivity would make them popular among the populace during 2018 –2023 too. However the demand is predicted to increase the fastest for standalone variants as unlike their extension counterparts they do not need to be connected to a smartphone to offer their full range of functionalities. The demand for high-end products particularly those that have an operating system and media functions has been increasing. Further people are also increasingly going for smartwatches that are shockproof and waterproof. Another reason for the increasing sale of smartwatches is the surging awareness of people about fitness and health. Such devices measure several parameters related to health and fitness and transfer them to a mobile or tablet application for easy access and analysis. Download Brochure with Technical Innovation People in the age group of 15 –35 are the primary buyers of such watches as they are the most concerned about personal fitness and also engage in regular exercise. Such users look for exercise schedules workout guides and sleep tracking features in smartwatches.

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3 © PS Intelligence. All rights reserved Another major driving factor man consumer electronics. and hobi. to the battery. Disclaimer: PS Intelligence always keeps its customers’ interests at the core while carrying out research activities. PS Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However the information in publications is subject to fluctuations as it is based on primary interviews of officials from various companies or organizations. PS Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in PS Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication but cannot be guaranteed. PS Intelligence does not endorse any product service or vendor depicted in its research publications. All intellectual properties including trademarks and copyrights belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service report or part thereof provided by PS Intelligence can be reproduced republished resold revealed distributed circulated or sublicensed in any medium or form now realized or hereafter become realized including but not limited to all forms of optical-based media magnetic electronic or digital without a written permission from Prescient Strategic Intelligence Pvt. Ltd. Kindly write to: enquirypsmarketresearch.com B-13 Sector – 2 Noida U.P. – 201301 INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886

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