The annual growth rate of the “smartwatches” market is estimated to reach 13% by 2030.
This market is considered to be interesting, as the data show that they will be able to generate $64 billion in revenue to all stakeholders by the year 2030.
The data brought to the fore by the market research company “GlobalData” show that there are some additions to the capabilities of “smartwatches”, which have given new impetus to consumers, since the ability to connect to the “mobile Internet”, together with the functions “fitness” and the possibilities of monitoring health data of the wearer, are considered to be key arguments to obtain a “smartwatch”.
But the element highlighted by “GlobalData” in its study of the “smartwatches” market is that it still lacks that important feature that will make these devices increase their sales sharply.
Analysts estimate that this will not be long before this comes, but until that happens, the “smartwatches” market will be moving at a mild upward rate.
Regarding the market’s course in 2020, “GlobalData” estimates that there will be a fall of 10% compared to the 2019 data, which obviously has to do with the climate of economic distress due to the pandemic and the difficulty of supplying the market with merchandise.
On the other hand, there are not a few analysts who believe that the functions that “smartwatches” have in their equipment could be used for the purpose of studying the Covid-19 cases, stressing that this is a good reason for the commercial rise of “smartwatches”.
In general, the category of “smartwatches” is estimated to still be in its early stages, with more and more players stating that they want to enter the market.