Global Smartwatch Development Trends and Brand Strategies
The global smartwatch shipment volume is estimated to reach 134 million units in 2020 as the market has been inspired by the new generation of Apple Watch which can work without an iPhone and perform outstandingly in the medical sector over the years. As a result, the CAGR (Compound Annual Growth Rate) of the global smartwatch market between 2018 and 2022 is estimated at 16%. Apple Watch has been the most appealing with unique functions and appearance and thus has been the best-selling product of its kind over the past two years. For this reason, other counterparts have been imitating Apple Watch’s specifications and functions. This report provides the development of the global smartwatch market, focuses on three key development trends observed and examines product strategies of key players, such as Apple, Fitbit, Fossil, and Garmin.
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