LONDON–(BUSINESS WIRE)–Technavio has been monitoring the smartwatch market and it is poised to grow by USD 14.57 bn during 2020-2024, progressing at a CAGR of almost 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Frequently Asked Questions:

• What are the major trends in the market?
  
  The increasing number of patent filings by smartwatch manufacturers is a major trend driving the growth of the market.
• At what rate is the market projected to grow?
  
  The year-over-year growth for 2020 is estimated at 4.49% and the incremental growth of the market is anticipated to be $ 14.57 bn.
• Who are the top players in the market?
  
  Apple Inc., Fitbit Inc., Fossil Group Inc., Garmin Ltd., Huami Corp., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Mobvoi Information Technology Co. Ltd., and Samsung Electronics Co. Ltd., are some of the major market participants.
• What is the key market driver?
  
  The technological advances in electronic components is one of the major factors driving the market.
• How big is the North America market?
  
  The North America region will contribute 54% of the market share.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Apple Inc., Fitbit Inc., Fossil Group Inc., Garmin Ltd., Huami Corp., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Mobvoi Information Technology Co. Ltd., and Samsung Electronics Co. Ltd. are some of the major market participants. The technological advances in electronic components will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Smartwatch Market 2020-2024: Segmentation

Smartwatch Market is segmented as below:

• Type
• Operating System
  • WatchOS
  • Tizen
  • Wear OS
  • Others
• Geography
  • North America
  • APAC
  • Europe
  • South America
  • MEA

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Smartwatch Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smartwatch market report covers the following areas:

• Smartwatch Market Size
• Smartwatch Market Trends
• Smartwatch Market Industry Analysis

This study identifies an increasing number of patent filings by smartwatch manufacturers as one of the prime reasons driving the smartwatch market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Smartwatch Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist smartwatch market growth during the next five years
• Estimation of the smartwatch market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the smartwatch market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smartwatch market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• Integrated – Market size and forecast 2019-2024
• Standalone – Market size and forecast 2019-2024
• Market opportunity by Type

Market Segmentation by Operating system

• Market segments
• Comparison by Operating system
• watchOS – Market size and forecast 2019-2024
• Tizen – Market size and forecast 2019-2024
• Wear OS – Market size and forecast 2019-2024
• Others – Market size and forecast 2019-2024
• Market opportunity by Operating system

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America – Market size and forecast 2019-2024
• APAC – Market size and forecast 2019-2024
• Europe – Market size and forecast 2019-2024
• South America – Market size and forecast 2019-2024
• MEA – Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Apple Inc.
• Fitbit Inc.
• Fossil Group Inc.
• Garmin Ltd.
• Huami Corp.
• Huawei Investment & Holding Co. Ltd.
• Lenovo Group Ltd.
• LG Electronics Inc.
• Mobvoi Information Technology Co. Ltd.
• Samsung Electronics Co. Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.