Dublin, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The "Global Smartwatch Chips Market Size, Share & Industry Trends Analysis Report By Application, By Type, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Smartwatch Chips Market size is expected to reach $2.3 billion by 2028, rising at a market growth of 9.4% CAGR during the forecast period.
A special kind of microchip made for smartwatches is known as a 'Smartwatch Chip.' They are used to operate and power gadgets. Smartwatch chips are significant because they improve the performance and efficiency of smartwatches. A smartwatch is a wearable computer which takes the dimensions of a watch. Modern smartwatches have a touchscreen interface for everyday usage.
An app on a smartphone is used to operate the device and collect telemetry data for purposes like long-term biomonitoring. While early versions could carry out simple functions like math, digitally telling the time, translating, and playing games, today's smartwatches have more features akin to smartphones, such as mobile applications, a mobile operating system, and WiFi/Bluetooth connection.
With FM radio and Bluetooth headset playback of digital music and video files, several smartwatches double as portable media players. Some variants, called watch phones (or phone watches), incorporate mobile cellular features, including calling. Though internal technology varies, most features an electronic visual display, usually an OLED or LCD with backlighting.
To utilize less electricity, some people use transflective or electronic paper. Typically, a lithium-ion rechargeable battery powers them. Digital cameras, accelerometers, pedometers, thermometers, heart rate monitors, altimeters, compasses, barometers, GPS receivers, miniature speakers, and microSD cards are peripheral devices. Many other types of computers also recognize microSD cards as storage devices.
Market Growth Factors
Rise in the popularity of smartwatches among athletes
With the fast rise in internet connection and digitization, there is a rise in the demand for wireless gadgets. Some of the key applications that are crucial components of smart wireless fitness devices and are anticipated to meet the consumers' most important needs include monitoring and measuring physical activity, sensing the surroundings, real-time data collecting, and communication.
The wristwatch may be quickly linked to a smartphone through Bluetooth or wireless communication. The athlete or any consumer may arrange their daily chores with this assistance. Therefore, the increase in demand for wireless fitness and sports equipment is a key factor supporting the global market for wristwatch chips.
Increasing use of smartwatches for continuous health monitoring
The most valuable component of wearable technology has been health monitoring. It benefits fitness enthusiasts by giving them the required health metrics, but it also benefits patients by giving them information about their illnesses. Fitness tracker shipments have increased due to people becoming increasingly concerned about their health. Every wristwatch has a fitness tracker, which contributes to their growing appeal since they have several options for tracking various health indicators. The usage of smartwatches for health monitoring has increased due to these advantages. The demand for smartwatch processors is expected to increase more in the years to come due to this spike in the use of smartwatches.
Type Outlook
Based on type, the smartwatch chips market is divided into 32-bit, 64-bit, and others. In 2021, the 32-bit segment showcased the significant revenue share in the market. The phrase '32-bit' is used in the computer industry to describe a data type that can hold up to 4 GB of data. It plays a significant role in the smartwatch chip market since it stores data on the user and their actions, including heart rate, number of steps done, etc. During the projected period, the category is anticipated to increase at the second-fastest pace.
Application Outlook
Based on application, the smartwatch chips market is classified into android system, iOS system, and others. In 2021, the iOS system segment had the highest revenue share in the smartwatch chips market. The increased attachment rate of Apple smartwatches to its base of one billion iPhone users may be blamed for the dominance of the IOS system wristwatch market.
Regional Outlook
Based on region, the smartwatch chips market is categorized into North America, Europe, Asia Pacific, and LAMEA. The North America region held the largest revenue share in 2021. The market is anticipated to develop significantly over the next years, retaining its leadership throughout. The semiconductor sector's development and well-known businesses like Microchip Technology Inc., Analog Devices, Inc., Broadcom, etc. are fostering the segment's development.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Analog Devices, Inc., Arm Limited (Softbank Group Corp.), Microchip Technology, Inc., Broadcom, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Ingenic Semiconductor Co., Ltd., Intel Corporation, Silicon Laboratories, Inc., QUALCOMM Incorporated (Qualcomm Technologies, Inc.), and Nordic Semiconductor ASA.
Key Market Players
- Analog Devices, Inc
- Arm Limited (Softbank Group Corp.)
- Microchip Technology, Inc
- Broadcom, Inc
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Ingenic Semiconductor Co., Ltd
- Intel Corporation
- Silicon Laboratories, Inc
- QUALCOMM Incorporated (Qualcomm Technologies, Inc.)
- Nordic Semiconductor ASA
| Report Attribute | Details |
| No. of Pages | 156 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $1249.5 Million |
| Forecasted Market Value (USD) by 2028 | $2318.6 Million |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/jwor4a-smartwatch?w=12
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
