Smart Watch Chips Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (64-bit, 32-bit, and Others); Application (Ios System, Android System, And Others) and Region/Country
The smart watch chips market is expected to grow at a strong CAGR of around 10% during the forecast period owing to the increasing demand for advanced security systems. Smart chips are widely used in electronic devices such as credit and debit cards, passports, and ID cards to ensure secure transactions and prevent counterfeiting of the consumer. Additionally, the rising incidence of data breaches and identity thefts has led to an increased demand for smart chips with advanced encryption capabilities, further boosting the market growth. For instance, Qualcomm recently launched its Snapdragon 888 5G Mobile Platform, which offers improved performance and energy efficiency compared to its previous generation. The new platform also includes a new image signal processor and a new AI engine, which enable better photography and faster AI processing. Furthermore, the rising health awareness and increasing demand for smartwatches. Connected watches and other activity trackers are gaining popularity among health-conscious people, patients, and athletes.
Some of the major players operating in the market include Analog Devices, Inc., Arm Ltd., Microchip Technology Inc., Broadcom, Huawei Technologies Co., Ltd., Ingenic Semiconductor Co., Ltd., Intel Corp., Silicon Laboratories, Qualcomm Technologies, Inc. and Nordic Semiconductor. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, 64-bit is expected to grow significantly during the forecast period”
Based on type, the market is segmented into 64-bit, 32-bit, and others. The 64-bit is expected to grow significantly during the forecast period. This is mainly due to 64-bit chips being more power-efficient than their 32-bit counterparts, which can help to prolong battery life in smartwatches. Additionally, the increasing popularity of 64-bit mobile devices such as smartphones and tablets has led to a growing demand for 64-bit chips in other electronic devices, including smartwatches. Thus, the 64-bit smartwatch is expected to grow due to technological advancement, and excessive demand from consumers, being a feature-rich device that can run smoothly and efficiently.
“Amongst applications, the iOS system is expected to grow significantly during the forecast period”
By application, the market is categorized into iOS system, android system, and others. Among these, The iOS system is expected to grow significantly during the forecast period. This is mainly owing to the increasing demand for apple watches because of its technological advancement availability, and high-quality products. It also has an amazing design, features, and seamless integration with other Apple devices. Additionally, the increasing adoption of its wearable technology. As more people become interested in tracking their health and fitness, smartwatches have become an essential tool for many individuals. iOS systems offer a range of health and fitness features that are highly valued by consumers. Thus, increasing demand for iOS systems in turn increases the market share of smartwatches.
“North America dominated the smartwatch chips market in 2021”
North America dominated the smart watch chips market in 2021. This is majorly owing to North America is one of the biggest smartwatch manufacturers in the world, including Apple and Fitbit. Companies in North America have been at the forefront of the smartwatch revolution, and their products have become incredibly popular with consumers. Additionally, due to the strong demand for wearable technology in the region. Consumers in North America are increasingly interested in fitness and health tracking, and smartwatches offer a convenient and accessible way to monitor and manage these aspects of their lives. This has led to a surge in demand for smartwatches in the region, which in turn has driven the growth of the smartwatch chips market.
Smart Watch Chips Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global smart watch chips market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Smart Watch Chips Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global smart watch chips market were the three major steps undertaken to create and analyze the adoption of smart watch chips in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global smart watch chips market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the smart watch chips market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the smart watch chips market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the smart watch chips market. Further, we conducted factor analysis using dependent and independent variables such as type and application of the smart watch chips market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the smart watch chips market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global smart watch chips market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the smart watch chips market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global smart watch chips market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global smart watch chips market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type and application in the global smart watch chips market.
The main objective of the Global Smart Watch Chips Market Study
The current & future market trends of the global smart watch chips market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the smart watch chips market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the type and application
- Define and analysis of the regulatory framework for the smart watch chips industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the smart watch chips market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the smart watch chips market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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