Rise in health awareness among consumers, advanced features of smartwatches and technological advancements in the healthcare industry drive the growth of the global kids smartwatch market. However, the outbreak of the COVID-19 pandemic led to halted manufacturing activities across the world. At the same time, disruptions in the supply chain, a decline in shopping, and the closure of schools and colleges all harmed the kids smartwatch market.
Portland, OR, Sept. 23, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global kids smartwatch market generated $1.12 billion in 2020, and is projected to reach $4.26 billion by 2030, witnessing a CAGR of 14.6% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in health awareness among consumers, advanced features of smartwatches and technological advancements in the healthcare industry drive the growth of the global kids smartwatch market. However, low battery life and lack of data security & privacy restrain the market to some extent. On the other hand, growth in e-commerce sales and the presence of fitness & health tracker present new opportunities in the upcoming years.
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The outbreak of the COVID-19 pandemic led to halted manufacturing activities across the world. At the same time, disruptions in the supply chain, a decline in shopping, and the closure of schools and colleges all harmed the kids smartwatch market.
However, the global situation is getting better at a slow & steady pace, and the sales are expected to rise.
The report offers detailed segmentation of the global kids smartwatch market based on product type, compatibility, connectivity, distribution channel, and region.
Based on product type, the standalone segment held the highest market share in 2020, holding more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the integrated segment is estimated to register the highest CAGR of 15.1% from 2021 to 2030.
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Based on compatibility, the android segment held the largest market share in 2020, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the iOS segment is projected to register the highest CAGR of 15.6% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding around one-third of the total market share, and is estimated to continue its dominant share by 2030. However, LAMEA is projected to manifest the fastest CAGR of 16.8% during the forecast period.
Leading players of the global kids smartwatch market analyzed in the research include Doki Technologies Ltd., Huawei Technologies Co. Ltd, LG Electronics Inc., Omate Inc., Precise Innovation LLC, Tencent Holdings Ltd., Tinitell AB, Vtech Holdings Ltd., and Xiaomi Global Community.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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