Meticulous Research®, a leading global market research company, has published a new report titled, “Smartwatch Market by Operating System (Android, iOS, Tizen), Display Type (AMOLED, TFT LCD, LCD, Transflective LCD), Sales Channel, Application (Personal Assistance, Health/Wellness, and Sports), and Geography - Global Forecast to 2031.”

According to the report, the global smartwatch market is expected to reach $78.2 billion by 2031, growing at a CAGR of 8.9% from 2024 to 2031. By volume, the market is anticipated to hit 801.3 million units by 2031, with a CAGR of 21.8% over the same period. Key drivers of this growth include the rising focus on health and fitness tracking, technological advancements in wearable devices, and the increasing popularity of stylish designs. However, the high cost of premium smartwatches could pose a challenge to market expansion.
The report also identifies rising demand for personalized AI assistance as a growth opportunity for market players, while safety, security, and privacy concerns present challenges. Additionally, the growing demand for enhanced connectivity and communication features is a significant market trend.

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Market Segmentation
• Operating System: The market is segmented into Android, iOS, Tizen, and other operating systems. In 2024, iOS is projected to hold the largest market share of 54.0%, driven by advancements in the operating system, emphasis on health monitoring, strong Apple product penetration, and increasing demand for connectivity upgrades. The iOS segment is also expected to register the highest CAGR during the forecast period.

• Display Type: The market is segmented into AMOLED, TFT LCD, LCD, E-ink display, and transflective LCD. The AMOLED segment is expected to dominate with a 75.0% share in 2024 due to its high image quality, low power consumption, and superior outdoor visibility. AMOLED is also projected to experience the highest CAGR from 2024 to 2031. Notably, Garmin International, Inc. (U.S.) launched its Epix Pro Series with an AMOLED display in May 2023.

• Sales Channel: The market is divided into online and offline channels. The offline segment is expected to account for 70.0% of the market in 2024, due to personalized customer interactions and tangible product experiences. However, the online segment is forecasted to grow at the highest CAGR, driven by preferences for contactless shopping, convenience, price comparisons, and greater product selection.

• Application: The market is segmented into personal assistance, health/wellness, sports, media & entertainment, and other applications. The personal assistance segment is expected to hold a 40.0% share in 2024, due to demand for personalized fitness coaching and task management. The health/wellness segment is projected to register the highest CAGR, driven by increasing emphasis on health monitoring and features like sleep tracking and fitness tracking. Samsung Electronics Co., Ltd. (South Korea) launched its Galaxy Watch6 series in July 2023, focusing on personalized health guidance and enhanced mobile experience.

• Geography: The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to lead with a 43.0% share in 2024 and register the highest CAGR of 10.0% during the forecast period. Growth in this region is attributed to urbanization, technological advancements, rising disposable income, and the popularity of fashionable designs. Key developments include Garmin International, Inc.'s launch of the vívosmart 5 in India in June 2022.

Quick Buy – Smartwatch Market - Global Opportunity Analysis and Industry Forecast (2024-2031), Research Report: https://www.meticulousresearch.com/Checkout/80722722

Key Players
Prominent players in the smartwatch market include Apple Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Fossil Group, Inc. (U.S.), Garmin International, Inc. (U.S.), Fitbit Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Sony Corporation (Japan), LG Electronics, Inc. (South Korea), Boltt Games Pvt. Ltd. (India), ASUSTeK Computer Inc. (Taiwan), Honor Device Co., Ltd. (China), and Polar Electro (Finland).

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