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Global Kids Smartwatch Market Overview:
Kids Smartwatch Market Size was valued at USD 0.7 billion in 2022. The Kids Smartwatch market industry is projected to grow from USD 0.8 Billion in 2023 to USD 2.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 18.4% during the forecast period (2023 - 2030).The market for children's smartwatches is mainly expanding due to the general increase in health consciousness. Individuals use smartwatches to take the appropriate actions based on their health factors at the appropriate time. This enables medical professionals to monitor the health of their patients and treat them appropriately without needing any physical examinations. Those that use digital tools like smartwatches maintain track of their children's health, driving the market drivers.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Kids Smartwatch Market Trends
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Key Brands Shifting Their Focus Towards Kids to boost the market growth
The major industry players are predicted to boost the market expansion by focusing more on children and increasing the production of goods targeted explicitly toward them. This is because many parents are becoming more conscious of how it might improve their children's lives by enabling them to be physically active. According to information made public by Gadget. Com, the GOQii smart vital junior wristwatch, specially made for children, will launch in June 2021. The device even has 18 activity modes.
The market for children's smartwatches is expanding primarily due to increased health consciousness. Individuals use smartwatches to take the appropriate actions based on their health factors at the appropriate time. This enables medical professionals to monitor their patient's health and treat them appropriately without needing any physical examinations. Those that use digital tools like smartwatches maintain track of their children's health. As a result, the market for children's smartwatches is expanding as consumer awareness of health issues rises. The inclusion of intelligent notifications in children's smartwatches is very helpful in tracking various health indicators. Some features include a sleep monitor, a health and fitness tracker, a mood tracker, GPS tracking, and updates delivered to parents through SMS. These elements are accelerating the industry's overall growth for kids' smartwatches. The expanding electronic device customer base, the rising affordability of such smart gadgets, the rising semiconductor device production rate, and the rising disposable income of the manufacturing hubs are impacting the overall expansion of the kid's smartwatch market. Therefore, such factors are enhancing the Kids Smartwatch market CAGR globally in recent years.
The makers are spending more money on R&D initiatives that enable them to incorporate cutting-edge technologies into smartwatches. As a result, product launches have been increasing quickly in recent years, creating the profit potential for the Kids Smartwatch market to grow during the anticipated time. However, there have been significant advances in treatment innovations to cater to the demand. For instance, there have been many introductions of biometrics Kids Smartwatch, another factor driving the growth of the Kids Smartwatch market revenue.
Kids Smartwatch Market Segment Insights:
Kids Smartwatch Type Insights
The Kids Smartwatch Market segmentation, based on type, includes integrated and standalone kids' smartwatches. The integrated kids smartwatch segment held the majority share in 2022, contributing to around ~65-67% of the Kids Smartwatch Market revenue. Due to consumer preference, the integrated kids' smartwatch sector dominates the market. Users of the built-in kids' smartwatches can browse the internet and get various notifications when connected to a smartphone via Bluetooth or Wi-Fi. For instance, manufacturers are looking to add advanced features such as sophisticated health monitoring capabilities have been made available by manufacturers. These features include blood oxygen and SpO2 sensors, a stress monitor, electrocardiograms, calorie counters, and more.
December 2020: The Walt Disney Company and Vodafone Group PLC worked together to launch the NEO next-generation kids' smartwatch. Along with the American design agency Fuseproject, this smartwatch was created. The device will contain a front-facing camera to record their daily activities, enable call and text conversation, and create daily goals to motivate kids to exercise.
Kids Smartwatch Application Insights
Based on application, the Kids Smartwatch Market segmentation includes individual use, school, and kids training organization. In 2022, individual use will account for the largest market share in the revenue. The individual usage application significantly expanded the global market for kids' smartwatches. Worries about children's safety have fueled the demand for children's smartwatches. This is credited to independent smartwatches with parental controls, which let parents regulate what their kids can and cannot do with their smartwatches in addition to viewing the music and photo files stored inside. Additionally, an android smartwatch comes equipped with a heart rate sensor, an accelerometer, a gyroscope, an ambient light sensor, and two microphones for better call quality. Hence, rising applications of standalone smartwatches positively impact the market growth.
Figure 2: Kids Smartwatch Market, by Application, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Kids Smartwatch Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific Kids Smartwatch market accounted for USD 0.3 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. A few reasons for the market's dominance in the Asia Pacific region include the availability of local firms offering reasonably priced kids' smartwatches and the growing adoption of innovative technology.
Further, the significant countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Kids Smartwatch Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Kids Smartwatch market accounts for the second-largest market share due to the availability of affordable electronic products, higher disposable incomes, and an increasing consumer base for smart devices in the region are impacting the overall growth of the market. Further, the Germany Kids Smartwatch market held the largest market share, and the UK Kids Smartwatch market was the fastest-growing market in the European region
The North America Kids Smartwatch Market is expected to grow at the fastest CAGR from 2022 to 2030. The market opportunity for self-contained smartwatches that don't rely on smartphone connectivity is considerable, fuelling the regional market's growth. Moreover, China Kids Smartwatch market held the largest market share, and the India Kids Smartwatch market was the fastest-growing market in the Asia-Pacific region
For instance, India Kids Smartwatch market is expected to grow with the fastest growing CAGR in the Asia Pacific region. The demand for smartwatches in India has been significantly fueled by the success of Apple, Inc.'s smartwatch line. Early product availability and high levels of technology adoption have been important industry growth drivers. Also, the proliferation of connected devices and the incorporation of IoT into smartwatches have increased sales in India and fueled the expansion of the regional market by enhancing consumer convenience.
Kids Smartwatch Key Market Players & Competitive Insights
Major market players are making investments and providing financing to support R&D efforts so they may introduce novel treatment options to the marketplace. Businesses are also trying to enhance their market share through significant market developments like introducing new products, boosting investments, and joint ventures with other businesses. Companies in the kids smartwatch market need to provide treatments and more effective solutions.
The market leaders in the global Kids Smartwatch industry are looking to increase their profit margins by decreasing their operating costs. The Kids Smartwatch market major player such as Doki Technologies (Hong Kong), LG Electronics (South Korea), VTech Holdings (Hong Kong), Huawei Technologies (China), GPS (U.S.), and others are working on expanding the market demand by investing in research and development activities.
Xiaomi Corporation, also known as Xiaomi and doing business as Xiaomi Inc., is a Chinese company that designs and produces household goods, home appliances, consumer electronics, and related software. The company is rated 338th and is the youngest company on the Fortune Global 500. It is the second-largest smartphone maker in the world, behind Samsung, and most of its products operate on the MIUI User interface, which is based on the Android operating system. Lei Jun, a current multi-billionaire and six senior partners, launched Xiaomi in Beijing in 2010 when he was 40 years old. By 2014, Xiaomi held the most significant market share of smartphones sold in China. Xiaomi introduced its first smartphone in August 2011.
With its headquarters in Shenzhen, Guangdong province, Huawei Technologies Co., Ltd. is a Chinese multinational technology company that develops, produces, and sells telecommunications equipment, consumer electronics, smart gadgets, and a range of rooftop solar power products. Huawei's business has grown from its initial focus on producing phone switches to constructing telecommunications networks, providing operational and consulting services and equipment to businesses both inside and outside of China, and producing communications products for the consumer market.
Key Companies in the Kid's Smartwatch market include
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Doki Technologies (Hong Kong)
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LG Electronics (South Korea)
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VTech Holdings (Hong Kong)
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Huawei Technologies (China)
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GPS (U.S.)
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Image (U.S.)
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Pebble (Taiwan)
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Precise Innovation (U.S.)
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Tencent Holdings (China)
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Tinitell AB (Sweden)
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Xiaomi Global Community (China), among others
Kids Smartwatch Industry Developments
June 2021: GOQii, an Indian startup specializing in fitness technology, has introduced a smartwatch/fitness band for youngsters that retails for USD 66 in India. The smartwatch/fitness band will offer capabilities, including a real-time track of changes in children's heart rates, temperatures, and blood oxygen levels. The watch will offer activity modes explicitly designed for kids.
October 2021: A major manufacturer of smartwatches for children, Xplora, has introduced the XGO2, the first phone, and smartwatch for young children. It is a reasonably priced smartwatch made for kids between 4 and 10. The watch will incorporate GPS tracking, which will help parents keep track of where their kids are at all times. Also, it promotes children's physical activity.
Kids Smartwatch Market Segmentation:
Kids Smartwatch Type Outlook (USD Billion, 2019-2030)
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Integrated Kids’ Smartwatch
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Standalone Kids’ Smartwatch
Kids Smartwatch Application Outlook (USD Billion, 2019-2030)
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Individual Use
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School
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Kids Training Organization
Kids Smartwatch Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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