The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Kids’ Smartwatch Market. The growth sectors of the Kids’ Smartwatch Market are identified with precision for a better growth perspective.
The kids’ smartwatch market spans across North America, Europe, Asia-Pacific Middle East & Africa, and Central and South America
Smartwatch is a portable wearable computing device that closely resembles a wristwatch. The smartwatches for kids are becoming popular as these devices are equipped with features that favor a child’s development along with various entertainment and educational features. Also, through in-built GPS-tracker in these smartwatches, parents can stay connected to their children with ease. Smartwatches usually have their own apps that are capable of gathering and tracking data regarding the exact location of kids. Some smartwatches also consist of features such as a small and unobtrusive (SOS) button that alerts the parents if the child is in distress and a geofencing function that sends an alert whenever the child enters or leaves a designated area.
The geographic analysis of the kids’ smartwatch market has been conducted for North America, Europe, Asia-Pacific (APAC), the Middle East and Africa, and Central and South America. Asia-Pacific accounted for the largest market share in 2018, with a market value of USD 147.0 million; the market is expected to register a significant CAGR during the forecast period. The significant gadget consuming culture of China, availability of local brands providing affordable products, fast adoption of new technologies, and increasing middle-class population with high disposable income are some of the factors influencing the demand for kids’ smartwatches.
In Europe, the technology has mostly been adopted in the UK, and other countries such as Italy and Spain are relatively slow in adopting it. Furthermore, few of the smartwatch’s brands have also been recalled by the European Commission following privacy concerns. One such instance is the product recall of kids’ smartwatch named Enox Safe-Kid-One as it was discovered that the smartwatch could easily be hacked by third parties, thus allowing strangers to keep track of children.
The features that attract consumers towards kids’ smartwatch include health monitoring, GPS tracking ability, and task tracking. According to Centers for Disease Control and Prevention (CDC), the prevalence of obesity among children and adolescents aged 2–19 years was 18.5% affecting 13.7 million kids and adolescents in 2018 in the US. Therefore, parents are becoming more conscious regarding their children’s health and safety, which is encouraging them to buy kids’ smartwatch.
Global Kids’ Smartwatch Market: Segmentation
The global kids’ smartwatch market has been segmented based on type, product, application, and region. Based on type the market has been classified as functional type and smart type. Based on product, the market has been segmented into integrated and standalone. Based on application, the market has been segmented as 7–12 Years Old and 0–6 years old.
The key players of global kids’ smartwatch market Fitbit, Inc. (US), Huawei Technologies Co. Ltd (China), VTech Holdings Limited (Hong Kong), Garmin Ltd (Switzerland), Doki Technologies (Hong Kong), JOY FamilyTech, Inc. (California), Shenzhen Continental Wireless Co., Ltd (China), Omate Inc. (China), Franciscan Solutions Private Limited (India), KD Group (Spain), SIBYL WORLD SDN BHD (China), TickTalk (US), among others.
Kids Smartwatch Market is anticipated to register a 14.76% CAGR, registering substantial growth…
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