Rise in demand for wearable devices & trackers to monitor vital signs, increase in awareness regarding health and well-being, and surge in use of smartwatch in e-learning are expected to propel the growth of the global smartwatch market. The market across the North America region held the largest share in 2017, accounting for more than one-third of the market.

Portland, July 02, 2019 (GLOBE NEWSWIRE) -- According to the report, the global smartwatch market was pegged at $9.26 billion in 2017 and is estimated to reach $31.07 billion by 2025, registering a CAGR of 16.2% from 2018 to 2025.

Increase in demand for wearable devices & trackers to monitor heart rate and other vital signs, surge awareness regarding health and well-being, and diversified product offerings by reputed manufacturers have boosted the growth of the global smartwatch market. However, premium pricing of smartwatches, slow internet connectivity in developing countries, and limited battery life hinder the market growth. On the contrary, increased use of smartwatch in e-learning and heavy inflow of investment to develop a connected ecosystem are expected to create lucrative opportunities in the near future.

The global smartwatch market is divided on the basis of product, application, operating system, and geography. Based on product, the market is categorized into extension, standalone, and classical. The standalone smartwatch segment dominated the market in 2017, accounting for more than half of the market revenue. Additionally, the segment is estimated to register the fastest CAGR of 18.6% during the forecast period.

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On the basis of application, the market is bifurcated into personal assistance, wellness, healthcare, sports, and others. The healthcare segment is projected to portray the fastest CAGR of 17.9% from 2018 to 2025, due to rise in health awareness for continuous tracking of heart rate, blood pressure, sleep, and nervous system. However, the personal assistance segment held the largest in 2017, contributing nearly one-third of the market.

Based on the operating system, the market is segmented into WatchOS, Android, RTOS, Tizen, and others. The WatchOS segment held the largest share in 2017, accounting for more than two-fifths of the market. However, the RTOS operating system is projected to register the fastest CAGR of 22.5% during the forecast period.

The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the North America region held the largest share in 2017, accounting for more than one-third of the market. However, the market across the Asia-Pacific region is estimated to register the fastest CAGR of 19.4% during the forecast period. 

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The report provides detailed analysis of the major market players such as Garmin Ltd., Apple Inc., Samsung Electronics Co., Ltd., Motorola Inc., Google Inc., Huawei Technologies Co. Ltd., Sony Corporation, Fitbit, Inc., and LG Electronics Inc.

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