The growth of the global smart watch market is attributed towards technological enhancements by the key players and extensive demand for remote patient monitoring and wireless health observing devices.

The extensive number of watches is enabling automotive proficiencies to be controlled in an effective manner that is one of the major factors driving the growth of the smart watch market across the globe.

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The excessive awareness pertaining to personal fitness and health among various citizens in both developed as well as developing economy is anticipated to drive the growth of the market due to rapid incorporation of wide variety of fitness and health applications across the globe.

Based on application, the smart watch market is segmented into wellness, medical, personal assistance, sports and others. Among these segments, smartwatches inscribed with features for personal assistance are expected to witness the highest CAGR during the forecast period. Personal assistance on these watches thereby simplifies the routine activities of the users by analyzing critical information and data that helps the users to become more efficient and productive.

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Key industry players in the global smartwatch market are leveraging market growth by extensively investing towards enlargement and design of economic offerings that is well accomplished with smart features. Furthermore, the market is consolidated and the key players in the market include Alphabet Inc., Fitbit Inc., Lenovo Group Limited, Sony Corporation, Garmin Ltd., LG Electronics, Samsung Electronics Co. Ltd., ASUSTeK Computer Inc., TomTom International BV, and Apple Inc.

Source: VynZ Research