Asia-Pacific Smartwatch Market to Reach $28,596 Million, by 2022

WILMINGTON, DELAWARE, UNITED STATES, August 23, 2024 /EINPresswire.com/ -- Among the major trends, the increase in the usage of fitness apps and the budgets of manufacturers for R&D of hi-tech devices govern the market trends for smartwatches. China dominates the overall market, being a manufacturing hub in the Asia-Pacific region. In addition, Australia is projected to witness the fastest growth during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/1245

Asia-Pacific Smartwatch Market Report, published by Allied Market Research, forecasts that the Asia-Pacific market is expected to garner $28,596 million by 2022, registering a CAGR of 69.8% during the period 2016-2022. An increase in the number of smartphone users, technological advancements, and a rise in demand for high-end devices led the market growth to a significant extent in the Asia-Pacific region.

The smartwatch market has grown at a steady pace. Smartwatch leads the bandwagon for wearable devices that enable a user to easily switch to it replacing traditional watches and providing more usability, functionality, and convergence similar to smartphones, which captured the market around two decades ago.

Extension smartwatches dominated the market in 2015, owing to their usage simplicity and multitasking ability. However, the classic smartwatch is projected to witness the fastest growth over the forecast period.

Among the operating systems, Android-based smartwatches dominated the market, owing to numerous embedded apps and Android phone users in the Asia-Pacific region. Nevertheless, Windows OS is expected to show the fastest growth over the forecast period.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1245

𝐓𝐨𝐩 𝐟𝐚𝐜𝐭𝐨𝐫𝐬 𝐢𝐦𝐩𝐚𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐬𝐦𝐚𝐫𝐭𝐰𝐚𝐭𝐜𝐡 𝐦𝐚𝐫𝐤𝐞𝐭

𝐄𝐧𝐭𝐫𝐲 𝐨𝐟 𝐥𝐚𝐫𝐠𝐞 𝐩𝐥𝐚𝐲𝐞𝐫𝐬
The widespread adoption of smartwatches has led to an increased number of players penetrating the market. Well-established manufacturers invest in R&D and product advancements, offering the latest technology and economies of scale that benefit the users as well. This enables small market players to provide similar specifications, providing an impetus to their products. Samsung, Apple, Microsoft, Google, and others provide more featured products to customers and help the market to gain visibility. These companies possess a wide customer base, which increases the competition.

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭 𝐢𝐧 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲
Smartwatch manufacturing companies invest considerably in R&D to devise optimum solutions to gain a higher market share. The smartwatch industry witnessed continuous growth gradually with enhanced feature ranges, such as notification alerts, internet connectivity, and others. Growth in technological features and advancements is expected to drive the smartwatch market during the forecast period.

𝐇𝐢𝐠𝐡 𝐜𝐨𝐬𝐭 𝐨𝐟 𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠
The manufacturing cost of smartwatches is high and the components integrated in these watches are expensive. In addition, the marketing and promotional activities of smartwatches incur high costs, which increases the overall cost of the product. Companies are heavily funding R&D activities to add more features and make the products competitive. However, the overall impact of this factor is expected to reduce during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1245

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐒𝐦𝐚𝐫𝐭𝐰𝐚𝐭𝐜𝐡 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬:

- Extension smartwatch is projected to dominate the Asia-Pacific smartwatch market during the forecast period
- Based on the operating systems, the Windows OS is anticipated to hold huge potential during the forecast period
- China is the largest regional market for the sale of smartwatches and is expected to dominate the market space during the forecast period

The key companies profiled in this report are 𝑨𝒑𝒑𝒍𝒆 𝑰𝒏𝒄., 𝑮𝒐𝒐𝒈𝒍𝒆 𝑰𝒏𝒄., 𝑮𝒂𝒓𝒎𝒊𝒏 𝑳𝒕𝒅., 𝑭𝒊𝒕𝒃𝒊𝒕, 𝑰𝒏𝒄., 𝑴𝒐𝒕𝒐𝒓𝒐𝒍𝒂 𝑴𝒐𝒃𝒊𝒍𝒊𝒕𝒚 𝑳𝑳𝑪., 𝑺𝒐𝒏𝒚 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒊𝒐𝒏, 𝑺𝒂𝒎𝒔𝒖𝒏𝒈 𝑬𝒍𝒆𝒄𝒕𝒓𝒐𝒏𝒊𝒄𝒔 𝑪𝒐. 𝑳𝒕𝒅., 𝑯𝒖𝒂𝒘𝒆𝒊 𝑻𝒆𝒄𝒉𝒏𝒐𝒍𝒐𝒈𝒊𝒆𝒔 𝑪𝒐., 𝑳𝒕𝒅., 𝑷𝒆𝒃𝒃𝒍𝒆, 𝒂𝒏𝒅 𝑵𝒊𝒌𝒆, 𝑰𝒏𝒄.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use various tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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