The smart watch is designed specifically considering kids’ growth and their ever-increasing need for technology. Generally, these watches need not be connected with separate smartphones and are available in a wide range of functions such as education, real-time location, assisted entertainment, speed dialing, and motion detection. With increasing per capita income of parents and an overall improvement in a lifestyle the global kids’ smartwatch market is expected to grow tremendously in the near future.
Considering the remarkable demand for kids’ smartwatches, QY Research has added another report in its depository titled, “Global Kids’ Smartwatch Market Research Report 2019,” for the predicted period of 6-years, i.e. during 2019- 2025. According to this report, the global kids’ smartwatch market is likely to reach US$ 873.5 Mn by the end of 2025 from US$ 364.3 Mn in the year 2018. The global kids’ smartwatch market is likely to register a robust CAGR of 13.2% throughout the projected period.
Global Kids’ Smartwatch Market: Trends and Drivers
One of the most significant trends is advanced technology in displays of smartwatches. In order to enhance the users’ experience, the smartwatches have introduced technological features and innovative designs. This speedy development and cutting edge technology is expected to fuel the growth of global kids’ smartwatch market throughout the projected period.
In terms of drivers, easy availability of smart notification features that assist in kids’ safety is the major factor which is boosting the growth of the global market for kids’ smartwatches. Some of the key manufacturers are coming up with smartwatches that offer notifications with the help of various applications. Smartwatches offer notifications for messages, alarms, and calls when they are connected with smartphones. Better investments in Research & Development and introduction of new products is expected to additionally influence the market growth in the global kids’ smartwatch market.
Doki Technologies Introduces SOS Button for Kids’ safety in case of Emergencies
Hong Kong-based Doki Technologies has designed a unique smartwatch for kids, which comes with a red SOS button that they use as an emergency alert. This technology locates users through GPS and kids can press the button on their watches in case of emergencies to inform people about dangers or emergencies. This market is fragmented due to the presence of various regional, local and international players.
The key players in the market have adopted innovating strategies to boost their revenue share in the global kids’ smartwatch market. There is intense competition between key players in terms of brand, price, variety in products and product portfolio. Some of the key players operating in this market are, Omate, OKII, Tencent, VTech Holdings, Precise Innovation, Abardeen, Ticktalk, Teemo, 360, LG Electronics, Huawei and Doki Technologies
Global Kids’ Smartwatch Market: Market Segmentations
The report focuses on regions such as Rest of World, North America, South East Asia, and Europe. Based on type, the market is segmented into smart type and functional type, while on the basis of application type, the market is segmented into 6-12 years old and 0-6 years old.