Sweat Powered Smartwatches Market Segmentation by Age Group (Teenagers, Adults, and Others); and by Application (Personal Assistance, Medical, Sports, and Others) – Global Demand Analysis & Opportunity Outlook 2030
Buy Now Report ID: 3559 | Published Date: Feb 07, 2023
On the basis of geographical analysis, the global sweat powered smartwatches market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of higher adoption of innovative technology, presence of major smartwatch manufacturing companies, and higher disposable income of the masses. Moreover, increasing demand for smartwatches in the United States, is estimated to boost the market growth. North America market is the most preferred market for smartwatch manufacturers, owing to growing demand for self-tracking health activities, backed by growing health awareness in the region. This is why, North America market is estimated to offer significant growth opportunities for the sweat powered smartwatches.
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The global sweat powered smartwatches market is further classified on the basis of region as follows:
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Our in-depth analysis of the global sweat powered smartwatches market includes the following segments:
By Age Group
By Application
Growth Drivers
Challenges
This technology is still in its conceptual stage, however, major smartwatch manufacturers, including, Apple Inc., and Samsung Electronics Co. Ltd., are expected to dive into the market in the near future.
The researchers from the University of Glasgow designed a novel technology battery, that can work on human sweat. This battery contains a new type of flexible supercapacitor, which has replaced the electrolytes typically found in batteries. It collects sweat, and ions in the sweat react with a special polymer to produce charge.
Smartwatches running on sweat powered batteries to be the next ‘new thing’ in smartwatch technology. These sweat-powered wearables are expected to hit the market in the near future.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: The constant advancement in technology and growing demand for smartwatches to boost the market growth.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2030.
Ans: Very high financial investment is estimated to hamper the market growth.
Ans: The market in the North America region will provide more business opportunities over the forecast period, owing to the growing demand for smartwatches in the region.
Ans: The sweat powered smartwatch technology is still in the conceptual stage; however, major smartwatch manufacturers are estimated to enter the market in the upcoming years.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by age group, application, and by region.
Ans: The sports segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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