Kids Smartwatch Market Seeks More Investment during COVID-19 Breakthrough, Claims MRFR

Pune, India, April 2021, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Kids Smartwatch Market.

Overview

The kids smartwatch market will witness a healthy growth from 2023 to 2030, a research report suggests. Growing at a CAGR of 18.4%, the market is projected to reach USD 2.2 billion by 2030. Smart notification features are expected to support the market growth along with the presence of health & fitness tracker. As predicted by analysts, low battery life will negatively affect the market’s performance from 2023 to 2030. During the forecast period, the market will be supported by smartwatches with health and fitness trackers and increasing support of parents for every child.

Soaring price on the other hand will challenge wearables sector based organizations functioning in the global kids smartwatch market. Analysts have split the market into type, product type, and application segments based on products and services. Wearables based companies have been profiled. The low battery life of kids smartwatch is set to affect the global market during the forecast period 2023 to 2030. The report also provides the market’s performance forecasts till 2030. Analysts have studied the strategy of wearables segment based organizations to help new entrants and established businesses. The wearables sector itself is supported by features such as alarm notifications as well as technological advances. During the forecast period 2023 to 2030, the kids smartwatch market is set to witness a health growth across type, product type, and application segments as well as regional markets.

Market Segmentation

The wearables sector has seen growth across type, product type, and application segments owing to the demand for kids smartwatch phones and kids smartwatch with GPS. To study the market, analysts have further segmented type, product type, and application into type on the basis of smart type and functional type. The market is further segmented into product type sub segments which are split into standalone and integrated. Additionally, the kids smartwatch market on the basis of application is segmented into 7-12 years and 0-6 years.

The segmental analysis presented in the report provides wearables field based organizations insights into key growth factors such as presence of health & fitness tracker as well as challenges such as the availability of substitutes the market will face from 2023 to 2030. Robust opportunities and physical activities are some of the key factors having an influence on wearables industry based companies, suggest analysts as per the kids smartwatch market report. But the report also identifies the shifting consumer preference for alternative solutions and supply chain related problems as major threats companies in wearables will face till 2030.

Regional Overview

Wearables market based companies in the kids smartwatch market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Fast and efficient transport facilities will be a key growth driver for regional markets. However, the low demand from developing countries will turn out to be a threat. For the forecast period 2023 to 2030 each of these regional markets are studied in the report. Starting from North America, the regional market and wearables vertical based companies are spread across the United States, Canada, and Mexico. The high cost of kids smartwatch will turn out to be a major challenge from 2023 to 2030.

Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by rapid urbanization as well as consumers aiming for more convenience, suggests the report. Similarly, the wearables sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the kids smartwatch market covers the Middle East and Africa. Forecast based on the reports findings are presented for the forecast period till 2030.

Competitive Landscape

The global kids smartwatch market research report brings a comprehensive study of type, product type, and application market segments, regional analysis, and wearables vertical based company details of key players. As the forecast period 2019 to 2025 will bring new opportunities for the market owing to the presence of effective communication and the increasing demand from various industry verticals, the market is set to grow at a compound annual growth rate of 14.76% and is predicted to reach a value of US$1,002.4 million by 2025. With SWOT analysis of wearables sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as unstable raw material prices and low research and development budgets, companies in the wearables sector can change the way business is done.

Industry News

Surprisingly, there are only a few smartwatches designed specifically for children. Despite the fact that some studies suggest that parents would prefer their children to have a wearable device over a smartphone, this is the case. Fitbit appears to be entering this market, according to recent sources, as they have reportedly acquired Hong Kong startup Doki Technologies. This is expected to pave the way for the launch of a 4G smartwatch for children, which will be the company's first in that segment.