Denmark Smartwatch Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product Type (Extension, Standalone, Classical), By Application (Personal Assistance, Healthcare, Sports, Others), And By Operating Type (Watch OS, Wear OS, Tizen, Others) - Forecasts From 2022 To 2027

  • Published : Dec 2022
  • Report Code : KSI061611246
  • Pages : 76

Denmark Smartwatch Market is projected to grow at a CAGR of 11.94% to reach US$149.735 million in 2027 from US$67.973 million in 2020.

A smartwatch is a wrist-worn wearable electronic gadget with features far beyond those of a typical watch. Smartwatches are frequently utilized as supplemental tools. Through Bluetooth and NFC (near-field communication) technology, it must be connected to a smartphone. Smartwatches provide access to and support for other digital devices while also helping to assess and diagnose tasks including recognizing heart rate, blood pressure, and calories burned. With the advent of smartwatches, it became simple to monitor all the critical bodily data on a single device like diagnosis, monitoring, and treatment of respiratory and cardiac illnesses. Smartwatch software and artificial intelligence (AI) technology assist in calculating and detecting body signals while one is working out.

The widespread use of smartwatches by sportsmen and sportspeople has raised consumer acceptance and demand for them in the market for medical devices. The market for smartwatches is expected to grow because of factors like increased consumer demand for wireless sports and fitness equipment, rising health consciousness among end users, and a surge in technological advancements by industry participants. Moreover, increasing rates of urbanization and the demand for visually pleasing, technologically advanced products to better meet customer needs, such as time schedules and numerous functionalities in one device are also anticipated to boost the market growth.

The market's expanding demand for smartwatches is a direct outcome of rising health consciousness. Smartwatches are the ideal technological gadgets for helping and encouraging people during their workouts or training sessions. People's health awareness has increased due to the prevalence of lifestyle diseases, which has increased the demand for and need for electronic medical equipment. One of the main lifestyle disorders that is ravaging the planet is diabetes. According to World Bank Data, 5.3% of the total population of Denmark is suffering from Diabetes in 2021. Approximately 7.7% of Denmark's total population is expected to have diabetes in the next years, according to figures from the Danish Health Authority (DHA). In Denmark, there is an increasing demand for and need for healthcare gadgets like smartwatches due to the prevalence of lifestyle disorders like diabetes.

Moreover, due to increased digitization and a growth in demand for wireless devices, the smartwatch market in Denmark is expanding quickly. The National Statistical Institutes' yearly statistics show that in Denmark, the proportion of people aged 15 to 74 who use the internet increased from 95% in 2019 to 97% in 2020. The advancement and quick development of healthcare has been facilitated by the integration of AI. AI-enabled smartwatches make it possible for clinicians to monitor their patient's health and perform smart diagnoses. One of the main uses for smart wireless fitness devices is to monitor and measure physical activity such as to check blood pressure, calories, heart rate, and sleep timer, are enhancing their acceptance in the medical community and driving up the demand for them in Denmark's market for medical equipment. Other main uses of Smartwatches include detecting the environment, real-time data collection, and communication. Moreover, the Danish Medicines and decentralized Clinical studies are both developing quickly in the direction of digitalization and decentralization in Denmark in which hybrid smartwatches are being used to track exercise, GPS, heart rate, and sleep patterns of the patients as reported by Healthcare Denmark. Such involvement of smartwatches on the national level in clinical trials is anticipated to boost the market of Smartwatches in the Country.

Key Developments

  • January 2022: Skagen Falster Gen 6 smartwatch was launched which features a 1.28-inch (416x416 pixel) AMOLED touch display with a 326 ppi pixel density and runs Google's Wear OS. It has 8GB internal memory and a Qualcomm Snapdragon Wear 4100+ SoC with 1GB of RAM. The Skagen Falster Gen 6 smartwatch has a heart rate sensor, an off-body IR sensor, and SpO2 sensors to monitor the wearer's blood oxygen levels. The gyroscope, compass, ambient light sensor, accelerometer, and altimeter are additional onboard sensors.

Denmark Smartwatch Market Scope:

 

Report Metric Details
 Market Size Value in 2020  US$67.973 million
 Market Size Value in 2027  US$149.735 million
 Growth Rate  CAGR of 11.94% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments Covered  Product Type, Application, And Operating Type
 Companies Covered Skagen Denmark, Apple Inc., GARMIN Ltd., LARSEN & ERIKSEN, Samsung Electronics Co Ltd
 Customization Scope  Free report customization with purchase

 

Segmentation

  • By Product Type
    • Extension
    • Standalone
    • Classical
  • By Application
    • Personal Assistance
    • Healthcare
    • Sports
    • Others
  • By Operating Type
    • Watch OS
    • Wear OS
    • Tizen
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. COVID-19 Scenario

1.3. Market Definition

1.4. Market Segmentation

 

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Assumptions

 

3. EXECUTIVE SUMMARY

3.1. Research Highlights

 

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Product Comparison

 

5. DENMARK SMARTWATCH MARKET BY PRODUCT TYPE

5.1. Introduction

5.2. Extension

5.3. Standalone

5.4. Classical

 

6. DENMARK SMARTWATCH MARKET BY APPLICATION

6.1. Introduction

6.2. Personal Assistance

6.3. Healtcare

6.4. Sports

6.5. Others

 

7. DENMARK SMARTWATCH MARKET BY OPERATING TYPE

7.1. Introduction

7.2. Watch OS

7.3. Wear OS

7.4. Tizen

7.5. Others

 

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

 

9. COMPANY PROFILES

9.1. Skagen Denmark

9.2. Apple Inc.

9.3. GARMIN Ltd.

9.4. LARSEN & ERIKSEN

9.5. Samsung Electronics Co Ltd


Skagen Denmark

Apple Inc.

GARMIN Ltd.

LARSEN & ERIKSEN

Samsung Electronics Co Ltd