While global economy have been adversely affected by the Covid-19 pandemic and many businesses face bankruptcy, it seems that the technology consumer behavior is on an up rise. Global trends shows that the smart watch industry is unhurt by the economic slump according to Counterpoint Technology Market Research. Global Smart Watch sales posted 20% global growth in first half of 2020 based on year-on-year stats.
Leading the pack is Apple with over 50% of the total market share, up from 43% followed by Garmin which ranks no. 2 in terms of revenue of 9.4%, from 8.9% the previous year. The brand saw healthy demand (+31% YoY) for its Forerunner and fenix line, making up one of the broadest portfolios of smartwatches in the market.
Smartwatch market are on demand with close to 42 million smartwatches shipped, this might be due to more consumers are becoming health conscious. It is also apparent that the demand is brought about by the closure of gym and the restrictions in general sports activity during the global lockdown status thereby most people shifted to personal workout which requires them to track their own progress.
Garmin is also showing good numbers as it launched the extension of their patented solar charging technology, introducing two of its flagship outdoor smartwatch series – Instinct, fēnix 6 and 6S Solar.
Garmin also emphasized the peak of solar-powered watches that converts the solar energy into electrical energy for single functions such as time, Garmin’s solar charging technology is the only watch the converted electrical energy to support various sports activity modes and health monitoring features such as heart rate, GPS, various sensors and data calculation.
Another reason for their growth can also be credited for their incorporation of pulse oximeter – Pulse Oximetry (or Pulse Ox, for short) is a noninvasive method used to measure the saturation of oxygen in the bloodstream. The new coronavirus that causes COVID-19 enters the body through the respiratory system, causing inflammation in the lungs as well as pneumonia that can negatively impact how well oxygen is transferred into the bloodstream.
Photo Caption: (1) The oxygen saturation percentage scale. (2) A graph of your average oxygen saturation readings for the last 24 hours. (3) Your most recent oxygen saturation reading. (4) The elevation scale. (5) A graph of your elevation readings for the last 24 hours
Our bodies distribute oxygenated blood to every part of our body through our respiratory system. Being aware of your SpO2 can help you understand how your body reacts to various situations and can serve as an indication of important changes in your health.
Counterpoint Technology Market Research is a global research firm specializing in Technology products in the TMT industry. It services major technology firms and financial firms with a mix of monthly reports, customized projects and detailed analysis of the mobile and technology markets. Its key analysts are experts in the industry with an average tenure of 13 years in the high-tech industry.
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