New York, United States , May 17, 2023 (GLOBE NEWSWIRE) -- The Global Smartwatch Chips Market Size is 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 the processors found in smartphones, in order to fit within the small form factor of a smartwatch and conserve battery life. Smartwatch chips may also include specialized features such as built-in GPS, NFC for mobile payments, and Bluetooth connectivity. With the growing popularity of smartwatches, manufacturers are continuing to develop and improve smartwatch chips to enhance the functionality and performance of these devices.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Smartwatch Chips Market Size, Share, and COVID-19 Impact Analysis, 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 Detailed Report Description Here:
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The 64-bit type segment is expected to grow at a CAGR of around 10.5% during the forecast period
Based on type, the global smartwatch chips market is segmented into 32-bit, 64-bit, and others. The 64-bit type segment in the smartwatch chips market is expected to grow due to the increasing demand for more powerful and efficient smartwatches that can support advanced applications and connectivity features such as LTE, GPS, and NFC. Additionally, the energy efficiency of 64-bit processors enables longer battery life, which is a crucial factor for smartwatch users. Moreover, 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 chips market.
The iOS system smartwatch segment is expected to grow at a CAGR of around 9.5% during the forecast period
Based on application, the global smartwatch chips 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 experience significant growth due to several factors. The continued popularity of the Apple Watch is one of the primary drivers. The Apple Watch's advanced health monitoring features, such as ECG monitoring and fall detection, are increasingly becoming essential for consumers, leading to an increase in demand. Additionally, the integration of the Apple Watch with other Apple devices, such as iPhones, iPads, and Macs, is expected to continue to drive growth.
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Asia-Pacific is predicted to grow at a higher CAGR of 11.3% over the projected period.
Based on region, the Asia-Pacific region is expected to experience significant growth in the smartwatch chips market during the forecast period. This can be attributed to several factors, including the rising adoption of smartwatches among consumers in the region, particularly 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 demand for smartwatches with advanced health monitoring capabilities. Furthermore, the increasing focus on mobile payments and the availability of low-cost smartwatches in the region are further driving the growth of the smartwatch chips market in Asia-Pacific. The region's rapidly developing technological infrastructure is also expected to support the growth of the smartwatch chips market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global smartwatch chips 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 N.V., Infineon Technologies AG, Intel Corporation, STMicroelectronics N.V., Renesas Electronics Corporation, Ambiq Micro Inc., Silicon Laboratories Inc., Cypress Semiconductor Corporation, ON Semiconductor Corporation, and Semtech Corporation.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global smartwatch chips market based on the below-mentioned segments:
Smartwatch Chips Market, By Type
- 32-bit
- 64-bit
- Others
Smartwatch Chips Market, By Application
- Android System Smartwatch
- iOS System Smartwatch
- Windows System Smartwatch
- Others
Smartwatch Chips Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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