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. Increase in the number of smartphone users, technological advancements, and rise in demand for high-end devices lead 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 enables 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.
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Extension smartwatches dominated the market in 2015, owing to its usage simplicity and multitasking ability. However, 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 depict the fastest growth over the forecast period.
Driving factors for the market
- Advancement in technology
- Entry of large players
- Growth in usage of utility watches
- rise in demand for high-end devices
Market Restraints and Opportunities:
- Design roadblock
- Higher need for standardization
- High cost of manufacturing
- High market potential forcross selling
- Growth of Wearable Technologies
Asia-Pacific Smartwatch Market, By Type
- Extension Smartwatch
- Standalone Smartwatch
- Classic Smartwatch
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Asia-Pacific Smartwatch Market, By Operating System
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.