The Denmark Smartwatch market is evaluated at US$67.973 million in 2020.
Smartwatch is a device that is used for performing certain functions other than showing time. Smartwatches are wearable watches that can assist and support in checking and diagnose of functions such as identifying heart rate, blood pressure, and the number of calories burned and also give access and connectivity to other digital devices. The introduction of smartwatches made it easy to check all the main body parameters in a single device. Smartwatches are mainly used for checking heart rate, blood pressure, and the number of calories burned during workouts or playtime. The software and AI technology of smartwatches help to detect and calculate our body signals, during the time of workout. The wide use of smartwatches by sportspersons and athletes has increased the acceptability and demand for smartwatches in the health devices market. The wide usage of smartwatches during workout time and by sportspersons is giving potential to the market growth of smartwatches. The rising health consciousness in the people of Denmark is boosting the market growth of smartwatches in Denmark. The high investments of native companies like Skagen Denmark and the support of the Denmark government in promoting healthcare devices are hiking the market value of smartwatches in Denmark.
The outbreak of the COVID-19 pandemic severely affected the market growth of smartwatches in Denmark. The lockdowns and isolations imposed by the Denmark government against the spreading of COVID-19 had adversely affected the market growth of smartwatches in Denmark. The shutdown of production units and manufacturing plants of electronic devices had resulted in less production of smartwatches, leading to the decline of the smartwatch market in Denmark. The regulations imposed on to supply chain sector of smartwatch industries also negatively affected the import and export rate of smartwatches inside and outside Denmark, leading to the decline of Denmark smartwatch market.
Rising demand for fitness devices
The increasing health consciousness had resulted in the rising demand for smartwatches in the market. Smartwatches are perfect electronic devices that can assist and support individuals in their workout or training sessions. The rising level of lifestyle diseases has uplifted the health consciousness of people, leading to the demand and need for electronic healthcare devices. Diabetes is one of the major lifestyle diseases widely spreading worldwide. According to the data of DHA (Danish Health Authority), it's forecasted to approximately about 7.7% of the total population of Denmark will be dealing the Diabetes in the forecasted years. The rising number of Diabetes and lifestyle diseases is accounting for the demand and need for healthcare devices like smartwatches in Denmark. The wide check-up options like blood pressure check, calorie check, heart rate, and sleep timer in smartwatches are increasing the acceptability of smartwatches in the health field, boosting the market of smartwatches in Denmark's health devices market.
Major investments of tech giants
The introduction of major tech companies and higher investments offered by tech giants in the smartwatches section is also boosting the market growth of smartwatches in Denmark. The warm welcoming of the Denmark government to industries and companies of electronic devices and healthcare devices is expanding the market of healthcare devices in Denmark. The increased health consciousness in the people of Denmark and the support of the government are making tech giants invest in healthcare electronic devices production and manufacture in Denmark. The introduction and investments of tech giants in smartwatches making health care more efficient and convenient are driving the market of smartwatches in Denmark.
|Market size value in 2020||US$67.973 million|
|Growth Rate||CAGR of during the forecast period|
|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|
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
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
5. Denmark Smartwatch Market Analysis, by Product Type
6. Denmark Smartwatch Market Analysis, by Application
6.2. Personal Assistance
7. Denmark Smartwatch Market Analysis, by Operating type
7.2. Watch OS
7.3. Wear OS
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.
LARSEN & ERIKSEN
Samsung Electronics Co Ltd.
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