According to a new report, published by KBV research, The Global Smartwatch Chips Market size is expected to reach $2.3 billion by 2028, rising at a market growth of 9.4% CAGR during the forecast period.
The Android System segment is showcasing a highest CAGR of 9.8% during (2022 - 2028). The expansion of this market may be ascribed to the low cost and long battery life of smartwatches using the Android operating system. Furthermore, a significant number of Android-based smartphones and other mobile devices which employ smartwatches as an extension of these phones are credited with the domination. Additionally, Google has said it plans to create a new version of Wear OS that incorporates Google Assistant, increasing acceptance across multiple geographies.
The 64-bit segment acquired maximum revenue share in the Global Smartwatch Chips Market by Type in 2021 thereby, achieving a market value of $1.2 billion by 2028. A 64-bit computer architecture gives the CPU more significant memory and storage capacity. Additionally, it facilitates data processing more quickly. While opposed to 32-bit technology, 64-bit technology has the considerable benefit of accessing more memory at once, which results in reduced delay when executing an operation. The market is expected to grow significantly over the projection period, retaining its dominant position.
The North America market dominated the Global Smartwatch Chips Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $792.3 million by 2028. The Europe market is exhibiting a CAGR of 8.7% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 10.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/smartwatch-chips-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Analog Devices, Inc., Arm Limited (Softbank Group Corp.), Microchip Technology, Inc., Broadcom, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Ingenic Semiconductor Co., Ltd., Intel Corporation, Silicon Laboratories, Inc., QUALCOMM Incorporated (Qualcomm Technologies, Inc.), and Nordic Semiconductor ASA.
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