Smartwatch Market Analysis

Display Type (LCD, OLED)

OLED segment in the smartwatch market is anticipated to hold the largest share of 57% during the forecast period. By providing several advantages, OLED smartwatch are contributing to growth in the market. OLED display offers vivid colors, deeper contrast, and energy-efficient operation. For instance, in February 2019, the Nubia Alpha wearable boasts Android-like features. The specifications include a Snapdragon Wear 2100 SoC, 1GB RAM, and 8GB of internal storage. The Nubia Alpha smartwatch features a 4-inch (960x192 pixels) flexible OLED display. The adoption of OLED screens in smartwatch is helping to increase their popularity and contribute to the expansion of the market, as consumers are increasingly looking for visually attractive and functional devices. Also, major market players in the OLED panel business are bolstering the segment’s growth. For instance, LG Display, Samsung, and Everdisplay (EDO) are among the key players in the OLED panel for smartwatch. LG Display's shipping share reached 23.99% in the fourth quarter of 2020, establishing it as the market leader.

Application (Running, Checking Notifications, Swimming, Cycling)

Running segment for the smartwatch market is anticipated to hold a share of 43% during the foreseen period. The adoption of running applications on the market is stimulated by continuous commitment to and product development & personalization for runners. Continuous innovation results in more efficient monitoring, enhanced user interfaces, and better features that are specially designed for the running community. For instance, the Garmin Forerunner 165 Series is the most recent GPS-running smartwatch range, aiming to be both user-friendly and cheap. With a vivid AMOLED display and personalized adaptive training routines, the Garmin Forerunner 165 Series is suitable for runners of all skill levels. The Forerunner 165 and Forerunner 165 Music have full-color displays, sensitive touchscreens, and a 5-button interface.

Our in-depth analysis of the global market includes the following segments: