Global Smartwatch Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global Smartwatch Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Due to increased urbanization rates, the desire for visually attractive technological goods that better satisfy customers' needs, such as time schedules and numerous capabilities in one device, has driven the global market for smartwatches. Furthermore, the massive millennial generation has been embracing smartwatches as a result of increasing spending for their daily work hours tracking and luxury standards.

Most smartwatches are now designed to be coupled with smartphones (through Bluetooth), which serve as information gateways, allowing these devices to exchange phone notifications such as text messages, email notices, or application alerts. Smartwatches, on the other hand, are not interchangeable since they can only be coupled with a limited number of compatible smartphones. For example, Samsung's Gear A wristwatch is only compatible with Samsung Galaxy series smartphones, but the Apple Watch is only compatible with iPhone 6 and higher series phones. As a result, today's smartwatches from mobile device manufacturers are more like smartphone accessories than standalone gadgets, as they require access to a compatible smartphone to convey extra important information to their owners.

Smartwatches are experiencing an increase in new users, including the elderly, since wearable manufacturers such as Apple and Fitbit are introducing health-monitoring capabilities that appeal to older people and keep them up to speed on their health condition in real-time. Apple, for example, has introduced a fall detection app and an EKG sensor to the Apple Watch Series 4, while Fitbit has included a tool to detect sleep apnea. The next generation of Apple watches are likely to include glucose monitoring for diabetics. In addition, the business cooperated with L'Oreal to create the first skin sensor that monitors UVA and UVB exposure. Consumers are gravitating toward connected monitoring devices as a result of the COVID-19 epidemic, and this tendency is projected to continue beyond 2021. According to the Consumer Technology Association, the US IT industry's sales will reach a record-breaking USD 487 billion in 2021, representing a 7.5 percent increase year on year. Moreover, Fitbit's most sophisticated smartwatch can track heart rate, SpO2, and skin temperature, and the firm is now testing if it can detect blood pressure as part of a new research for Sense users. Almost every other adult in the United States has high blood pressure, and many are unaware of it. In April 2021, Fitbit Labs initiated a blood pressure research to possibly detect Pulse Arrival Time (PAT), or the time it takes for a pulse of blood to reach the wrist following one's heartbeats. Through such improvements and research, the business hopes to investigate the possible relation to blood pressure monitoring and need a larger data collection.



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