DUBLIN--(BUSINESS WIRE)--The "Sports Watches Market By Product Type, By End User, By Price Point, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global sports watches market size was valued at $25,607.9 million in 2021, and is projected to reach $54,926.3 million by 2031, registering a CAGR of 7.9% from 2021 to 2031.
A sports watch is a wristwatch specifically designed for athletes during sporting activities. Additionally, it has features that allow it to fit comfortably on the user's wrist and be easy to read during various activities and sports. Some different styles of watches include 'chronographs', for example. It records the timing of short-lived events to the nearest fraction of a second. This feature helps athletes record how long they can sprint at top speed and which days they complete the most laps around the pool.
Sports watches are very popular and suitable for use in certain geographies and general populations. These wearable devices are used to monitor and track physical and fitness activities such as calories burned, steps taken based on user and consumption, heart rate, distance travelled, sleep time, and breathing. Tracking devices wirelessly sync with computers and smartphones and can be used by anyone, anywhere to monitor fitness and health parameters. For example, according to the Pew Research Center, one in five Americans used a fitness-monitoring device regularly in 2019. This has increased the demand for fitness monitoring devices.
The global sports watch market is segmented into product type, end-user, price point, distribution channel, and region. By product type, the market is divided into mechanical sports watch, and digital sports watch. By end-user, it is classified into men and women. By price point, the market is classified into luxury and economic. By distribution channel, the market is divided into specialty stores, brand outlets, e-commerce and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Effect due to the upward push in COVID-19 cases, COVID-19 expanded recognition concerning fitness, as a consequence of growing income of health tracking products, Companies including Apple and Garmin have witnessed a boom in sales with the aid of using 20% in 2020 as compared to the preceding economic year. While COVID-19 has impacted numerous businesses, and there stays uncertainty across the economic system and purchaser demand, producers are growing superior services and products to assist clients at some point in this time.
Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sports watches market analysis from 2021 to 2031 to identify the prevailing sports watches market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the sports watches market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global sports watches market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Mechanical Sports Watch
- Digital Sports Watch
By End User
- Men
- Women
By Price Point
- Luxury
- Economic
By Distribution Channel
- Brand Outlets
- E-commerce
- Others
- Specialty Stores
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- U.K.
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Garmin
- Apple Inc.
- COROS Wearables, Inc.
- Polar Electro
- Suunto
- Samsung
- Fitbit
- Rolex
- Fossil
- Huawei
For more information about this report visit https://www.researchandmarkets.com/r/7j37sa
