The Finland smartwatch market is estimated to grow at a CAGR of 36.76% during the forecast period.
The Smartwatch market is one of the growing markets in Finland. Smartwatch is considered one of the most widely used gadgets worldwide according to the reports of WTO (World Trade Organisation). The increasing health consciousness of people is contributing to the rising demand for the smartwatch in the global electronics market. The smartwatch is widely used as a fitness device or health gadget. Smartwatch is an electronic device that offers health assistance and fitness support other than showing time compared to conventional watches. Smartwatch can assist in providing information about calorie burning, sleep time, etc that can improve the user's overall fitness. The usage of the smartwatch as a fitness device by athletes, sportsman, and working people are giving potential to the market growth of smartwatches. The increasing health consciousness of people in Finland is boosting the demand for smartwatches in Finland. The support offered by the Finland government in welcoming investors and major market players of health devices and gadgets is also driving the smartwatch market of Finland. The higher penetration of electronic devices into daily life and health schedule of people is also rising the market value of health gadgets like smartwatches in Finland.
The COVID-19 pandemic outbreak had adversely affected the market growth of smartwatches in the global electronic market. The sudden isolations and lockdowns Imposed by the Finland government in order to control the spread of COVID-19 had declined the production and market of electronic devices and gadgets including smartwatches. The shutdown of production plants and manufacturing units resulted in the decline of production numbers of electronic devices and smartwatches. The less availability of smartwatches in the COVID-19 pandemic situation due to less production of pieces resulted in the market decline of smartwatches in Finland. The COVID pandemic also tampered with the supply chain sector of electronic devices and smartwatches resulting in less export and import rate of smartwatches in Finland's COVID outbreak had seriously affected the market growth of smartwatches in Finland.
Usage as fitness devices
The wide usage of smartwatches as a fitness device is boosting the market growth of smartwatches in the global market. The health consciousness of the people of Finland is rising the demand for the smartwatch as a fitness device in Finland. According to the reports of WTO (World Trade Organisation) smartwatch is considered one of the leading health gadgets marketed in the world. The tech giant Apple has an estimated sale of 2.1 million smartwatches in 2019, the sales percentage of smartwatches of Apple company had increased to 36% in a year. The wide acceptability of fitness devices and health gadgets by people and the government of Finland boosted the market growth of smartwatches in Finland.
The large investments of companies in Finland are one of the factors driving the market growth of smartwatches in Finland. The support and assistance offered by the Finland government in welcoming multinational companies and tech giants are contributing to the market growth of smartwatches and health gadgets in Finland. The large investments made by the government and private sector of Finland are also boosting the development of the smartwatches and electronic gadgets market in Finland.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR of 36.76% during the forecast period |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Connectivity, And Operating System |
| Companies covered | Polar Electro, Suunto Oy, Creoir oy, Haikara Corp oy, Garmin Ltd. |
| Customization scope | Free report customization with purchase |
Segmentation