BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, Middle East and Africa smartwatch market size expects to grow at an impressive CAGR of 51.4% during the forecast period between 2023 and 2029. The increasing availability of a wide range of products, entry of new smartwatch brands into Middle Eastern and African nations, and the customers’ quickly rising purchasing power all expected to contribute to the expansion of Middle East and Africa smartwatch market. It is also expanding due to the growing popularity of smartwatches as a health monitoring tool and the numerous alluring features they offer, including access to notifications, location services for smartphones, and the ability to make and receive calls.
Middle East and Africa Smartwatch Market – Overview
A smartwatch is a device that is worn on the wrist, like a watch, but with more advanced features. Its features are homogenous to smartphones, such as accessibility to various mobile apps, making and receiving calls, and wi-fi/Bluetooth connectivity. The smartwatches that are being launched these days are equipped with advanced health monitoring sensors like heart rate monitors. They are also capable of performing as an alternative to thermometers, pedometers, barometers, compasses, GPS receivers, and much more. Smartwatches can also access and share data to and from other devices including smartphones and computers.
Middle East and Africa Smartwatch Market – By Distribution Channel
Based on distribution channel, the Middle East and Africa smartwatch market is segmented into direct sales, e-commerce, retail stores, and others. The market for smartwatches in the Middle East and Africa is dominated by the e-commerce segment, because of the extensive use of online marketplaces for consumer goods, such as AliExpress, Walmart, Takealot.com, and Amazon.com. Additionally, the aggregators provide a variety of deals and discounts through clearance sales and seasonal specials, which draw in younger consumers. It is significantly contributing to the growth of the e-commerce segment in the market. However, the direct sales segment also covers a substantial share of the market as these brands open exclusive showrooms of their products with attractive interiors in these countries, which acts favorably towards market growth.
Impact of COVID-19 on the Middle East and Africa Smartwatch Market
Middle East and Africa smartwatch market registered significant losses during the initial COVID–19 pandemic outbreak, due to the temporary lockout of all shopping centers and retail businesses. The supply chain disruption and industrial stoppage caused significant losses for the market. The market is forecast to grow, nevertheless, as smartwatches become increasingly popular as a means of health monitoring during and after COVID-19 pandemic eras. They are particularly helpful in keeping an eye on COVID patients by digitally exchanging crucial information. As a result, it is projected that demand for smartwatches will increase during the period in analysis.
Major players operating in Middle East and Africa smartwatch market include Apple Inc., SAMSUNG, Fitbit, Huawei Technologies Co., Ltd., HONOR, Zepp Health Corporation, Under Armour Inc., AMIT International Group, Catapult, Withings, Sigma Sports Limited, and Sotera, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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