New York, US, Aug. 05, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Kids Smartwatch Market information by Type, Product, Application and Region – forecast to 2027” the market to touch USD 1,002.4 million at a healthy 14.76% CAGR from 2019- 2025.
Kids Smartwatch Market Scope:
The availability of multiple smart notification features in kids smartwatches, which contribute to their safety, can boost market growth during the forecast period. In this way, parents will be able to keep track of their children easily.
Dominant Key Players on Kids Smartwatch Market Covered Are:
- TickTalk (US)
- SIBYL WORLD SDN BHD (China)
- Shenzhen Continental Wireless Co., Ltd (China)
- Franciscan Solutions Private Limited (India)
- Omate Inc. (China)
- JOY FamilyTech, Inc. (California)
- VTech Holdings Limited (Hong Kong)
- Doki Technologies (Hong Kong)
- KD Group (Spain)
- Garmin Ltd (Switzerland)
- Huawei Technologies Co. Ltd (China)
- Fitbit, Inc. (US)
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Additional factors that add to the growth of the kids smartwatch market include various attractive features such as health monitors, health and fitness monitors, mood monitors, GPS trackers, and sleep monitors that keep parents informed about their child’s activities, the rapid development of the economy, increased parental support for each child, features such as alarm notifications, calls, messages, presence of emergency button feature which sends parents the location, technological advances, and improved user experience. In addition, the demand for kids smartwatch phone, kids smartwatch with games, kids smartwatch with calling, and kids smartwatch with GPS, are also adding market growth.
However, the low battery life of kids smartwatch resulting in battery runtime may act as market restraint over the forecast period.
Browse In-depth Market Research Report (218 Pages) on Kids Smartwatch Market:
Segmentation of Market covered in the research:
The global kids smartwatch market has been segmented into type, product type, and application.
By type, the global kids smartwatch market has been segmented into functional type and smart type
By product type, the global kids smartwatch market has been segmented into integrated and standalone
By application, the global kids smartwatch market has been segmented into 0-6 years and 7-12 years.
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Geographically, the global kids smartwatch market has been segmented into North America, Europe, the Asia Pacific (APAC), Central & South America, & the Middle East and Africa (MEA).
APAC to lead the global market
The APAC area will have the largest market share in the forecast period. China’s momentous gadget-consuming culture, the rapid adoption of the latest technologies, the accessibility of local brands providing affordable products, high disposable incomes, and an escalating middle-class population are contributing to the region’s global kids smartwatch market growth. In addition, increasing sales of smart watches and fitness trackers, increasing shipments of wearable devices and the growing acceptance of wearable devices are also contributing to market growth.
December 2020 – Vodafone, the European mobile carrier, teamed up with Disney to launch a new children’s wearable named Neo. The company says Neo combines its technological capabilities with Disney’s entertainment chops to provide a wearable that will give children a sense of independence while allowing parents to keep in touch. A highly notable feature of Neo is its Disney branding. Also, the injection of Disney charm, Neo focuses on keeping parents in touch with their children, with some smartwatch features added, although this requires a Vodafone subscription. This smartwatch allows parents to text, call, and even get updates on their kid’s location from the Vodafone Smart Companion app. Parents can use this to create a circle of trusted contacts for calling and texting and to restrict screen time via Quiet Mode. The Neo with the goal of increasing kid’s independence can also receive calendar updates, monitor activity, check the weather, and click photos with the in-built 5 MP camera.
COVID-19 Impact on the Global Kids Smartwatch Market
A wide variety of sectors have already faced the brunt of the ongoing COVID-19 crisis, with the global kids smartwatch market being no exception. Kids smartwatch operates as a smartphone that is placed on the kid’s wrist and connected to parents’ smartphone. This way, parents are able to monitor their child’s movements with the aid of the companion mobile application. However, the COVID-19 pandemic has had a dramatic effect on the kids smartwatch market size. The spread of this virus worldwide has had a serious impact on the electronics industry. Government-enforced precautionary measures, such as complete or partial lockdowns and physical distancing, have led to the production of consumer electronics products being halted and businesses shut down in most countries. In fact, the drop in production of such kids watch have also affected the sales of products. As a result of the lockdown, there has been a supply chain disruption, with China being the center for raw materials used in the manufacture of electronic products. Several companies are experiencing huge sales losses during the outbreak due to the lack of raw materials and labor shortages. Moreover, the delay in launching kids’ smartwatches is also impacting the growth of the market.
Impact of COVID-19 on the Kids’ Smartwatches Market:
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.