Global Smartwatch Market was valued US$ 10.22 Bn in 2017 and is expected to reach US$ 56.32 Bn by 2026, at a CAGR of 23.78 % during a forecast period. The smartwatch market is segmented into the price range, product, operating system, application, and region. In terms of price range, smartwatch market is segmented into high-end smartwatches, mid-end smartwatches, and low-end smartwatches.
Based on the product segment, smartwatch market is classified into extension smartwatch, classic smartwatch, and standalone smartwatch. A further operating system, smartwatch market is divided into android, IOS, and windows. In terms of application, smartwatch market is classified into personal assistance, wellness, sports, medical, and others. Based on regions, the global smartwatch market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
A smartwatch is a wrist-worn wearable device and provides functionalities far beyond those of a traditional wristwatch. In terms of product, extension smartwatches are contributing the highest revenue to the global market due to innovative applications such as tracking, alerts, and connectivity, which are compatible with extension smartwatches. Based on price range, high-end smartwatches accounted for approximately 90% of the overall market share due to the growing demand for wearable technology and the entry of a considerable number of established players are expected to drive the market. Limited battery life is expected to be a restraint for market growth, with a trade-off between the battery life and overall performance.