India Smartwatch Market Estimated to Grow at a Substantial Rate Through 2025
Increase in health awareness and ongoing technological
advancements in the field of health monitoring to propel the growth of the
smartwatch market in India during forecast period
According to
TechSci Research report, “India
Smartwatch Market By Product, By Operating System, By Application, By Price
Range, By Distribution Channel, Competition, Forecast & Opportunities, 2025”, India smartwatch
market is projected to grow at a substantial pace during the forecast period on
account of the growing awareness toward personal health and fitness along with
increasing use of automotive control features in smartwatches. For instance,
the key market players are focusing more on the development of app-based
offerings that are compatible with the new series of smartwatches and delivering
features like remote starting of cars, driver assistance, as well as smart
locking and unlocking of cars, due to which the market is estimated to rev up
during the forecast period. Moreover, rising use of pocket-friendly
smartwatches in the country is expected to propel the growth of India smartwatch
market over the coming years. The factor that might hamper the growth of India
smartwatch market in upcoming years is the lack of awareness about the utility
of smartwatches.
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In terms of application,
the India smartwatch market is segmented into personal assistance, wellness,
healthcare, sports and others. Among them, the sports segment is expected to register
high growth over the next five years. This can be attributed to the need for
monitoring everyday fitness activities like steps taken, distance travelled, calories
burnt, among others, which can be easily tracked using a smartwatch. In
addition to this, healthcare segment is also forecast to grow at a rapid CAGR
in the years to come, as the consumers are very conscious about their health
and are spending a lot on health monitoring gadgets having the capability to track
nervous system, heart rate, emergency or inactivity alerts, and health related
events.
Apple, Inc.,
Fitbit Inc., Samsung Electronics Co., Ltd, Sony Corporation, Fossil Group,
Inc., Huawei Technologies Co., Ltd., Titan Co. Ltd., Casio India Co Pvt Ltd,
Xiaomi Corporation, Nokia Corporation (Withings) and others are some of the
leading players operating in India smartwatch market.
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“Ongoing
technological advancements has stimulated the growth for smartwatches, because
they are technical products which need constant research and development for integration
of different features. Moreover, additional applications like tracking, alerts
and connectivity, that are compatible with extension smartwatches, have raised the
consumer interest towards such watches, which is further estimated to bolster
the growth of India smartwatch market through 2025.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based India management
consulting firm.
“India Smartwatch Market By Product, By
Operating System, By Application, By Price Range, By Distribution Channel,
Competition, Forecast & Opportunities, 2025” has evaluated
the future growth potential of India smartwatch market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in India smartwatch market.
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