According to Fortune Business Insights, the global smartwatch market size was valued at around USD 22.02 billion in 2021. The market is projected to rise USD 58.21 billion by 2028 at 14.9% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Smartwatch Market, 2021-2028.”
Information Source:
https://www.fortunebusinessinsights.com/smartwatch-market-106625
According to the study, consumers are likely to exhibit demand for technological devices to streamline fitness tracking, navigation, and notification checking. End-users, such as athletes and tech users, are likely to invest in advanced products. Amidst the COVID-19 pandemic, strategic approaches may change to gain a competitive edge in the landscape.
Report Coverage
The report is prepared rigorously with the use of qualitative and quantitative analysis. The use of primary sources, including interviews of stakeholders and suppliers, has propelled the integrity of the report. The report also includes secondary sources, including annual reports, SEC filings, and studies published by notable organizations. The report also includes top-down and bottom-up approaches to boost estimations and product mapping
Competitive Landscape
Industry Participants to Infuse Funds into Organic and Inorganic Strategies to Gain a Competitive Edge
Industry participants are expected to emphasize mergers & acquisitions, technological advancements, product rollouts, and R&D activities. The competitiveness of the market is such that leading companies could invest in geographical expansion and product offerings.
Key Industry Developments
- September 2021: Samsung announced its smartwatch operating system partnership with Google to help better compete with Apple products.
- August 2020: Fitbit declared the launch of its Fitbit Sense smartwatch, which comes with advanced health features.
