Why Is Asia-Pacific (APAC) Fastest-Growing Smartwatch Market?

The product segment of the smartwatch market is divided into classic, extension, and standalone. In 2017, the extension division accounted for the largest market share due to the magnifying demand for next-generation smartwatches that can act as an extension of smartphones and related devices. Moreover, the compatibility of tracking, connectivity, and alerts features with extension smartwatches is attracting a large number of consumers, thereby giving a strong push to the market.

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Additionally, the application segment of the smartwatch market is categorized into personal assistance, wellness, sports, medical, and others, which includes gaming, fashion, spiritual wellness, and kids’ learning. Among these, the personal assistance category dominated the market in 2017 due to the increasing application of smartwatches for daily activities, such as schedule tracking and sleep monitoring. Owing to these features, consumers are rapidly adopting such consumer electronics to plan their daily schedule. Besides, the integration of more-assistive and smart features in future smartwatches is expected to boost the demand for them.

During the forecast period, the Asia-Pacific (APAC) region is projected to showcase the fastest growth in the smartwatch market as a result of the intensifying demand for high-end wearable devices, widening application of utility watches, and increasing technological advancements by regional players, including Titan and Huawei. Moreover, the growing adoption of pocket-friendly smartwatches in China and rising focus of people on smartwatches in India are fueling the APAC market growth.

Thus, the growing popularity of smartwatches among females from the sports fraternity and corporate sector is fueling their uptake, globally. Moreover, the integration of automotive features in next-generation smartwatches will escalate the market growth rate in the coming years.

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