GlobalData analysts believe that this year the coronavirus will have a negative impact on the development of the global smart watch market.
In particular, according to the results of 2020, shipments of smart chronometers are expected to decrease by 9% in unit terms compared to last year. If we consider the industry in terms of money, then the fall will be at the level of 10%.
Experts say that in a pandemic, consumers are forced to cut spending on electronics. Because of this, among other things, the segment of βsmartβ watches suffers. The fact is that the functionality of such gadgets is largely duplicated in smartphones, and therefore users who planned to purchase them postpone their purchase until better times.
According to GlobalData analysts, the global smartwatch market will start to recover in 2021. The industry has good growth prospects as smartwatch penetration is relatively low so far.
As for the wearables market as a whole, in 2019 its volume was approximately $27 billion. In 2024, this figure is predicted to reach $64 billion. Thus, the growth will be an impressive 137%.
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Source: 3dnews.ru