Spanish market
The connected watch market in Spain
A connected watch, also known as a " smartwatch ", is an electronic watch that integrates sophisticated communication functions: telephone call reception and transmission, cell phone notifications, message sending and reception, voice recognition. These instruments are usually equipped with a touchscreen that allows the display to be customized by changing the dial; in general, they act as a companion for smartphones to which they are linked by Bluetooth.
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A connected watch, also known as a " smartwatch ", is an electronic watch that integrates sophisticated communication functions: telephone call reception and transmission, cell phone notifications, message sending and reception, voice recognition. These instruments are usually equipped with a touchscreen that allows the display to be customized by changing the dial; in general, they act as a companion for smartphones to which they are linked by Bluetooth.
The global market for connected watches grew at a staggering 53.5% per year in volume terms between 2014 and 2020. While North America represents the leading regional market for this technological product, with 35% of global consumption, it is in Asia-Pacific that growth is expected to be strongest in the coming years. Asian demand is fuelled by widespread access to smartphones and the massive use of digital services. The European market is currently the second largest, with Germany, France and Italy leading the way. [Market Research Future]
The main trend that could transform the connected watch market is the shift towards healthcare. Indeed, the arrival of the electrocardiogram on the Apple Watch 4 has given it a new status as a medical monitoring device. The customer segment of the elderly could thus develop strongly with a connected watch used as a health support and risk prevention tool. Finally, on the other side of the demographic spectrum, young people are more interested in connected watches than their elders, and could leave traditional high-end or luxury brands behind to equip themselves with smartwatches.
In Spain, the connected watch market is also booming, with a growth rate of +18% in 2020, a growth rate almost in line with the European growth rate of 20. 8% over the same period. Consumer favorites include Xiaomi, Apple, Huawei and Samsung, but a number of local manufacturers have also managed to establish themselves successfully.
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