The United States smartwatch market size is predicted to grow at a significant CAGR from 2022 to 2027.
Smartwatches are digital watches with access to the internet, calendar synchronization, GPS navigation, and many other features. Whereas in 2019, around 20.1 million smartwatches are being sold in the United States.
Increase in healthy lifestyle activities, awareness about being fit, increased market size. The turnover of technology made people more aware of health and safety. Fitness activities followed for maintenance of the right body tone and health increase usage of the market. The rise in technological advances in the 3G and 4G systems is also a factor for market growth. The United States has recorded the highest Gymnasiums in the world. Hence the usage of fit bands is in demand. Fit bands and watches help a person track down their fitness activity and journey throughout the day and thus help to monitor various factors such as heart rate, step count, etc. These watches also monitor calories burned per day based on step count. Hence one can have a count of calorie intake. Sleep cycle recording is one best feature of smartwatches. The rest of the body counts the hours of sleep and can also categorize the sense of sleep, whether it is disturbed or sound.
Lack of awareness on how to use smartwatches hampers the market growth. The user manual for fitness bands and smartwatches is not understandable to ordinary people. The complexity of watches and technologies inhibits market growth. Costs associated with these smartwatches are high, affecting the sales of watches in the market. Lack of internet connections and land lanes in remote areas also decreases the usage of smartwatches.
COVID-19 impact on the U.S. Smartwatch Market:
COVID-19 has shown an effect on every other, likewise on the smartwatches market. The United States has been a house for production and manufacturing plans. Due to the pandemic outbreak, the lockdown regulation has created a loss for the market. The travel ban issues hampered market growth. Loss of skilled workers, the ground staff could not get to work due to lockdown regulations. As there was a halt in the United States due to the lockdown, its exports and imports faced loss and were locked for several months.
This research report on the U.S. smartwatch market has been segmented and sub-segmented into the following categories:
By Product Type:
Currently, the United States holds the most massive share of the global smartwatch market as there was an early adoption of new technology introduced in the market. The US has witnessed prominent players and increased investments in research and developmental activities. United States is the first country the develop virtual SIM cards for adjusting smartwatches. And after that, the United States became a house for the manufacturing and production units of smartwatches. Amongst the American population, more than 40% are considered to use fit bands for tracking various parameters concerning health and sleep.
In the US, mobile phones' extensive penetration with internet access facilities is increasing and benefiting consumers.
KEY MARKET PLAYERS:
Apple Inc., Google Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, and Huawei Technologies Co. Ltd are some promising companies leading the United States Smartwatch Market.
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