Global Smartwatch Chips Market Size, Share & Industry Trends Analysis Report By Application (iOS System, Android System, and Others), By Type (64-bit, 32-bit, and Others), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Smartwatch Chips Market
Market Report Description
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.
COVID-19 Impact Analysis
Businesses that rely heavily on Chinese imports face several obstacles and failures. Due to supply chain delays and decreased production capacity due to enforced lockdowns and other limitations in the impacted countries, the technology sector was the most disrupted globally. Online sellers also needed help to ship their merchandise efficiently. The biggest online businesses needed help to handle this situation. Additionally, the COVID-19 situation has compelled several smart watch manufacturers to cease their production to comply with regulatory regulations. This interruption in corporate activities is negatively impacting the market's revenue flow. All of this significantly negatively impacted the market for smartwatch chips during the early pandemic era.
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.
Market Restraining Factors
The cost of smartwatches is high
A high level of skill and a large initial investment are required due to the precision needed for the design and development and the raw materials. Due to the integration of several devices, including sensors, screens, and other components into tiny, compact device, smartwatches have intricate circuit layouts. The gadget has multiple tiny semiconductor components with a core diameter of 10 micrometers. Design professionals have difficulty linking many components into a single device since control ICs are just a few hundred nanometers in size. During the forecast period, this is expected to restrain the market's growth for smartwatch chips.
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.
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.
|Market size value in 2021||USD 1.2 Billion|
|Market size forecast in 2028||USD 2.3 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 9.4% from 2022 to 2028|
|Number of Pages||156|
|Number of Tables||260|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Application, Type, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
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.
Free Valuable Insights: Global Smartwatch Chips Market size to reach USD 2.3 Billion by 2028
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.
Scope of the Study
Market Segments Covered in the Report:
- iOS System
- Android System
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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
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North America Smartwatch Chips Market Report 2022-2028
Europe Smartwatch Chips Market Report 2022-2028
Asia Pacific Smartwatch Chips Market Report 2022-2028
What would be the size of the Smartwatch Chips Market by 2028?
The global Smartwatch Chips Market size is expected to reach $2.3 billion by 2028.
What are the key driving factors and challenges in the Smartwatch Chips Market?
Rise in the popularity of smartwatches among athletes are driving the market in coming years, however, The cost of smartwatches is high restraints the growth of the market.
What are the major top companies in the competitive landscape?
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.
At what CAGR is the Smartwatch Chips Market estimate to grow in the forecast period?
The expected CAGR of the Smartwatch Chips Market is 9.4% from 2022 to 2028.
Which segment shows a high revenue share of the Smartwatch Chips Market in 2021?
The 64-bit segment acquired maximum revenue share in the Global Smartwatch Chips Market by Type in 2021 thereby, achieving a market value of $1.2 billion by 2028.
Which region dominated the Smartwatch Chips Market in 2021?
The North America market dominated the Global Smartwatch Chips Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $792.3 million by 2028.