Global Smartwatch Chips Market Size Will Be Worth USD 4.95 Billion By 2032 | 9.7% CAGR
New York, U.S., May 17, 2023 (GLOBE NEWSWIRE) — The Global Smartwatch Chips Market Size is expected to grow from USD 1.96 billion in 2022 to USD 4.95 billion by 2032, at a compound annual growth rate (CAGR) of 9.7% during the forecast period.
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Smartwatch chips are specialized processors designed to power the various features of a smartwatch, such as monitoring health data, connecting to the internet, and running apps. These chips are typically smaller and more power efficient than smartphone processors, in order to fit the small form factor of a smartwatch and save battery life. Smartwatch chips can also include specialized features such as built-in GPS, NFC for mobile payments, and Bluetooth connectivity. With the growing popularity of smartwatches, manufacturers continue to develop and improve smartwatch chips to improve the functionality and performance of these devices.
Browse key industry information spread over 200 pages with 130 market data tables, plus figures and graphs from the report on “Global Smartwatch Chips Market Sizesharing and analysis of COVID-19 impact, by type (32-bit, 64-bit and others), by application (Android System Smartwatch, iOS System Smartwatch, Windows System Smartwatch and others), by region (North America, Europe, Asia -Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2023 2032″. Get a detailed description of the report here:
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The 64-bit type segment is expected to grow at a CAGR of approximately 10.5% during the forecast period
Based on type, the global smartwatch chip market is segmented into 32-bit, 64-bit, and others. The 64-bit type segment in the smartwatch chip market is expected to grow owing to the growing demand for more powerful and efficient smartwatches that can support advanced applications and connectivity features such as LTE, GPS, and NFC. Additionally, the power efficiency of 64-bit processors allows for longer battery life, which is a crucial factor for smartwatch users. Additionally, advancements in semiconductor technology are driving down the cost of 64-bit processors, making them more accessible to manufacturers, further driving the growth of the segment in the smartwatch chip market.
The iOS system smartwatch segment is expected to grow at a CAGR of around 9.5% during the forecast period
Based on the application, the global smartwatch chip market is segmented into Android system smartwatch, iOS system smartwatch, Windows system smartwatch and others. The iOS system smartwatch segment held the largest market share in 2022. The iOS system smartwatch is expected to witness significant growth due to several factors. The continued popularity of the Apple Watch is one of the main drivers. Apple Watch’s advanced health monitoring features, such as ECG monitoring and fall detection, are becoming more and more essential for consumers, leading to an increase in demand. Additionally, the Apple Watch’s integration with other Apple devices, such as iPhones, iPads and Macs, is expected to continue to drive growth.
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Asia-Pacific is expected to grow at a higher CAGR of 11.3% over the projected period.
Based on the region, Asia-Pacific is expected to witness significant growth in the smartwatch chip market over the forecast period. This can be attributed to several factors, including the growing adoption of smartwatches by consumers in the region, especially in countries like China, Japan, and South Korea. Additionally, the region has a large and growing market for wearables in the healthcare sector, which is driving the demand for smartwatches with advanced health monitoring capabilities. Additionally, the growing focus on mobile payments and the availability of low-cost smartwatches in the region is further driving the growth of the smartwatch chip market in Asia-Pacific. The rapidly developing technological infrastructure in the region is also expected to support the growth of the smartwatch chip market.
The report offers a proper analysis of key organizations/firms involved in the global market, along with comparative assessment mainly based on their product offering, business overviews, geographical presence, corporate strategies, market share by segment and their SWOT analysis. The report also provides elaborate analysis focusing on current business news and developments, including product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This helps to assess the overall competition in the market. Some of the major players in the global smartwatch chip market include Qualcomm Technologies Inc., Apple Inc., Samsung Electronics Co., Ltd., MediaTek Inc., Texas Instruments Inc., Nordic Semiconductor ASA, Dialog Semiconductor PLC, Maxim Integrated Products , Inc., NXP Semiconductors NV, Infineon Technologies AG, Intel Corporation, STMicroelectronics NV, Renesas Electronics Corporation, Ambiq Micro Inc., Silicon Laboratories Inc., Cypress Semiconductor Corporation, ON Semiconductor Corporation and Semtech Corporation.
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This study forecasts revenue at global, regional and country levels from 2019 to 2032. Spherical Insights has segmented the global smartwatch chip market based on the segments mentioned below:
Smartwatch Chip Market, By Type
Smartwatch Chip Market, By Application
- Android system smart watch
- iOS system smart watch
- Windows system smartwatch
Smartwatch Chips Market, Regional Analysis
- North America
- UNITED KINGDOM
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of the Middle East and Africa
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