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Smart watch target market12/2/2023 ![]() Over recent years, there has been a rise in awareness among Indian consumers in viewing wearables as more than just fashion accessories. Prices are falling, notably in India, as a result of increased local manufacturing and competition. This is anticipated to have accelerated the evolution of the global smartwatch market. Additionally, stakeholders have focused on increasing investment into R&D. These are factors that are anticipated to have an impact on the target market’s expansion. The adoption of smartwatches aid in sharing health data with professionals and alerting the emergency services in times of need is a result of an increase in the home healthcare approach among consumers. Increased focus on health, especially post covid Customers are seeking a watch that can provide them with ongoing reminders and help them maintain a healthy work-life balance as they grow more health conscious. Smartwatches, formerly seen as a fashion item for the upwardly mobile, are now essential add-on gadgets. In 2020, the market for smartwatches was worth USD 18.62 billion.Īccording to a fortune business analysis, the market is expected to increase from USD 22.02 billion in 2021 to USD 58.21 billion by 2028. ![]() The primary factor, anticipated propelling the growth of the worldwide smartwatch market between 20, is the increasing demand for wearable technology with cutting-edge smart features. With just few touch, we can easily monitor our health and lead a more fulfilling life. Smartwatch has become an integral part of our lifestyle.
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