Global Smartwatch Market Forecast to 2024

Page 1

Global Smartwatch Market – Analysis By Product Type (Extension, Standalone, Hybrid), By OS (WatchOS, WearOS, Tizen, RTOS), By Application (Fitness, Lifestyle), By Channel (Online, Offline), By Region, By Country (2019 Edition): World Market Review and Forecast to 2024

By Region - North America, Europe, Asia Pacific and ROW.

By Country – US, Canada, UK, Germany, Italy, France, China, India, Japan, Australia.

March 2019


Scope of the Report – Global Smartwatch Market Historical

2014

2015

2016

2017

Forecast

2018

2019

2020

2021

2022

2023

2024

Value Volume By Product Type, Extension Standalone By Value Classic/Hybrid WatchOS Android/Wear By Operating OS System, By Value Tizen RTOS Others Online By Distribution Channel, By Type Offline

Global

Market

Regional

Market (By Value) Extension By Product Type, Standalone By Value Classic/Hybrid WatchOS Android/Wear By Operating OS System, Tizen By Value RTOS Others Online By Distribution Channel, By Type Offline

2


Scope of the Report – Global Smartwatch Market Forecast

Historical 2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Market (By Value) Extension By Product Type, Standalone By Value Classic/Hybrid

Country

WatchOS By Operating System, By Value

Android/WearOS Tizen RTOS Others

By Distribution Channel, By Type

Company Analysis

Online

Offline

Apple, Sony Corporation, Fossil Group, Xiaomi Corporation, TomTom International, Samsung, Garmin Ltd, Fitbit and Huawei Technologies Co. Ltd.

Regional Analysis

North America, Europe, APAC, ROW

Country Analysis

US, Canda, UK, Germany, France, Italy, China, Japan, Australia, India.

3


Table of Content S.No

Particulars

Page No.

1.

Research Methodology

30

2.

Executive Summary

31

3.

Strategic Recommendation

32

3.1

Focus on the

33

3.2

Focus on the Asia-Pacific Region

33

4.

Smartwatch Market : Product Outlook

34

5.

Global Smartwatch Market : An Analysis

41

6.

5.1

By Value (2014-2018)

42

5.2

By Volume (2014-2018)

43

5.3

By Value (2019-2024)

50

5.4

By Volume (2019-2024)

51

Global Smartwatch Market : Segmental Analysis 6.1

52

Global Smartwatch Market – By Product Type

53

6.1.1

Global Smartwatch Market, By Extension, By Value 2014-2018

54

6.1.2

Global Smartwatch Market, By Extension, By Value 2019-2024

55

6.1.3

Global Smartwatch Market, By Standalone, By Value 2014-2018

56

4


Table of Content S.No

Particulars

6.2

6.3

Page No.

6.1.4

Global Smartwatch Market, By Standalone, By Value 2019-2024

57

6.1.5

Global Smartwatch Market, By Classic/Hybrid, By Value 2014-2018

58

6.1.6

Global Smartwatch Market, By Classic/Hybrid, By Value 2019-2024

59

Global Smartwatch Market – By Operating System

60

6.2.1

Global Smartwatch Market, By WatchOS, By Value 2014-2024

61

6.2.3

Global Smartwatch Market, By WearOS, By Value 2014-2024

62

6.2.5

Global Smartwatch Market, By Tizen, By Value 2014-2024

63

6.2.7

Global Smartwatch Market, By RTOS, By Value 2014-2024

64

6.2.9

Global Smartwatch Market, By Others, By Value 2014-2024

65

Global Smartwatch Market – By Distribution Channel

66

6.3.1

67

Global Smartwatch Market, By Offline, By Value 2014-2018

5


Table of Content S.No

Particulars

6.4

7.

Page No.

6.3.2

Global Smartwatch Market, By Offline, By Value 2019-2024

68

6.3.3

Global Smartwatch Market, By Online, By Value 2014-2018

69

6.3.4

Global Smartwatch Market, By Online, By Value 2019-2024

70

Global Smartwatch Market – By Regional Distribution (%)

North America Smartwatch Market – An Analysis

71

73

7.1

By Value (2014-2018)

76

7.2

By Value (2019-2024)

80

7.3

North America Smartwatch Market – By Product Type

82

7.3.1

North America Smartwatch Market, By Extension, By Value 2014-2024

83

7.3.2

North America Smartwatch Market, By Standalone, By Value 2014-2024

84

7.3.2

North America Smartwatch Market, By Classic/Hybrid, By Value 2014-2024

85

6


Table of Content S.No

Particulars 7.4

7.5

7.6

Page No.

North America Smartwatch Market – By Operating System

86

7.4.1

North America Smartwatch Market, By WatchOS, By Value 2014-2024

87

7.4.2

North America Smartwatch Market, By WearOS, By Value 2014-2024

88

7.4.3

North America Smartwatch Market, By Tizen, By Value 2014-2024

89

7.4.4

North America Smartwatch Market, By RTOS, By Value 2014-2024

90

7.4.5

North America Smartwatch Market, By Others, By Value 2014-2024

91

North America Smartwatch Market – By Distribution Channel

92

7.5.1

North America Smartwatch Market, By Online, By Value 2014-2024

93

7.5.2

North America Smartwatch Market, By Offline, By Value 2014-2024

94

North America Smartwatch Market – By Country Analysis (US and Canada)

95

7.6.1

United States Smartwatch Market, By Value 2014-2018

96

7.6.2

United States Smartwatch Market, By Value 2019-2024

98

7.6.3

United States Smartwatch Market, By Product Type, By Value 2014-2024

99

7


Table of Content S.No

8.

Particulars

Page No.

7.6.4

United States Smartwatch Market, By Operating System, By Value 2014-2024

100

7.6.5

United States Smartwatch Market, By Distribution Channel, By Value 2014-2024

101

7.6.6

United States Smartwatch Market, By Product Type, By Value 2014-2024

7.6.7

Canada Smartwatch Market, By Value 2014-2018

104

7.6.8

Canada Smartwatch Market, By Value 2019-2024

106

7.6.9

Canada Smartwatch Market, By Product Type, By Value 2014-2024

107

7.6.10

Canada Smartwatch Market, By Operating System, By Value 2014-2024

108

7.6.11

Canada Smartwatch Market, By Distribution Channel, By Value 2014-2024

109

Europe Smartwatch Market – An Analysis

111

8.1

By Value (2014-2018)

112

8.2

By Value (2019-2024)

115

8.3

Europe Smartwatch Market – By Product Type

116

8.3.1

118

Europe Smartwatch Market, By Extension, By Value 2014-2024

8


Table of Content S.No

Particulars

8.4

8.6

8.7

Page No.

8.3.2

Europe Smartwatch Market, By Standalone, By Value 2014-2024

119

8.3.3

Europe Smartwatch Market, By Classic/Hybrid, By Value 2014-2024

120

Europe Smartwatch Market – By Operating System

121

8.4.1

Europe Smartwatch Market, By WatchOS, By Value 2014-2024

122

8.4.2

Europe Smartwatch Market, By WearOS, By Value 2014-2024

123

8.4.3

Europe Smartwatch Market, By Tizen, By Value 2014-2024

124

8.4.4

Europe Smartwatch Market, By RTOS, By Value 2014-2024

125

8.4.5

Europe Smartwatch Market, By Others, By Value 2014-2024

126

Europe Smartwatch Market – By Distribution Channel

127

8.6.1

Europe Smartwatch Market, By Online, By Value 2014-2024

128

8.6.2

Europe Smartwatch Market, By Offline, By Value 2014-2024

129

Europe Smartwatch Market – By Country Analysis (UK, Germany, France, Italy and Rest of Europe)

130

9


Table of Content S.No

Particulars

Page No.

8.7.1

United Kingdom Smartwatch Market, By Value 2014-2018

132

8.7.2

United Kingdom Smartwatch Market, By Value 2019-2024

134

8.7.3

United Kingdom Smartwatch Market, By Product Type, By Value 2014-2024

135

8.7.4

United Kingdom Smartwatch Market, By Operating System, By Value 2014-2024

136

8.7.5

United Kingdom Smartwatch Market, By Distribution Channel, By Value 2014-2024

137

8.7.6

Germany Smartwatch Market, By Value 2014-2018

140

8.7.7

Germany Smartwatch Market, By Value 2019-2024

142

8.7.8

Germany Smartwatch Market, By Product Type, By Value 2014-2024

143

8.7.9

Germany Smartwatch Market, By Operating System, By Value 2014-2024

144

8.7.10

Germany Smartwatch Market, By Distribution Channel, By Value 2014-2024

145

10


Table of Content S.No

Particulars

Page No.

8.7.11

France Smartwatch Market, By Value 2014-2018

148

8.7.12

France Smartwatch Market, By Value 2019-2024

150

8.7.13

France Smartwatch Market, By Product Type, By Value 2014-2024

151

8.7.14

France Smartwatch Market, By Operating System, By Value 2014-2024

152

8.7.15

France Smartwatch Market, By Distribution Channel, By Value 2014-2024

153

8.7.17

Italy Smartwatch Market, By Value 2014-2018

156

8.7.18

Italy Smartwatch Market, By Value 2019-2024

158

8.7.19

Italy Smartwatch Market, By Product Type, By Value 2014-2024

159

8.7.20

Italy Smartwatch Market, By Operating System, By Value 2014-2024

160

8.7.21

Italy Smartwatch Market, By Distribution Channel, By Value 2014-2024

161

11


Table of Content S.No

9.

Particulars

Page No.

8.7.22

Rest of Europe Smartwatch Market, By Value 2014-2024

163

8.7.23

Rest of Europe Smartwatch Market, By Product Type, By Value 2014-2024

164

8.7.24

Rest of Europe Smartwatch Market, By Operating System, By Value 2014-2024

165

8.7.25

Rest of Europe Smartwatch Market, By Distribution Channel, By Value 2014-2024

166

Asia-Pacific Smartwatch Market – An Analysis

167

9.1

By Value (2014-2018)

168

9.2

By Value (2019-2024)

170

9.3

Asia-Pacific Smartwatch Market – By Product Type

171

9.3.1

Asia-Pacific Smartwatch Market, By Extension, By Value 2014-2024

173

9.3.2

Asia-Pacific Smartwatch Market, By Standalone, By Value 2014-2024

174

9.3.3

Asia-Pacific Smartwatch Market, By Classic/Hybrid, By Value 2014-2024

175

9.4

Asia-Pacific Smartwatch Market – By Operating System

176

9.4.1

177

Asia-Pacific Smartwatch Market, By WatchOS, By Value 2014-2024

12


Table of Content S.No

Particulars

9.5

9.6

Page No.

9.4.2

Asia-Pacific Smartwatch Market, By WearOS, By Value 2014-2024

178

9.4.3

Asia-Pacific Smartwatch Market, By Tizen, By Value 2014-2024

179

9.4.4

Asia-Pacific Smartwatch Market, By RTOS, By Value 2014-2024

180

9.4.5

Asia-Pacific Smartwatch Market, By Others, By Value 2014-2024

181

Asia-Pacific Smartwatch Market – By Distribution Channel

182

9.5.1

Asia-Pacific Smartwatch Market, By Retail channel, By Value 2014-2024

183

9.5.2

Asia-Pacific Smartwatch Market, By Online, By Value 2014-2024

184

AsiaPacific Smartwatch Market – By Country Analysis (China, India, Japan, Australia and Rest of Europe)

185

9.6.1

China Smartwatch Market, By Value 2014-2018

187

9.6.2

China Smartwatch Market, By Value 2019-2024

189

9.6.3

China Smartwatch Market, By Product Type, By Value 2014-2024

190

9.6.4

China Smartwatch Market, By Operating System, By Value 2014-2024

191

9.6.5

China Smartwatch Market, By Distribution Channel, By Value 2014-2024

192

13


Table of Content S.No

Particulars

Page No.

9.6.6

Japan Smartwatch Market, By Value 2014-2018

195

9.6.7

Japan Smartwatch Market, By Value 2019-2024

197

9.6.8

Japan Smartwatch Market, By Product Type, By Value 2014-2024

198

9.6.9

Japan Smartwatch Market, By Operating System, By Value 2014-2024

199

9.6.10

Japan Smartwatch Market, By Distribution Channel, By Value 2014-2024

200

9.6.11

India Smartwatch Market, By Value 2014-2018

203

9.6.11

India Smartwatch Market, By Value 2019-2024

205

9.6.12

India Smartwatch Market, By Product Type, By Value 2014-2024

206

9.6.13

India Smartwatch Market, By Operating System, By Value 2014-2024

207

9.6.14

India Smartwatch Market, By Distribution Channel, By Value 2014-2024

208

9.6.15

Australia Smartwatch Market, By Value 2014-2018

211

9.6.16

Australia Smartwatch Market, By Value 2019-2024

213

14


Table of Content S.No

10.

Particulars

Page No.

9.6.17

Australia Smartwatch Market, By Product Type, By Value 2014-2024

214

9.6.18

Australia Smartwatch Market, By Operating System, By Value 2014-2024

215

9.6.19

Australia Smartwatch Market, By Distribution Channel, By Value 2014-2024

216

9.6.20

Rest of Asia-Pacific Smartwatch Market, By Value 2014-2024

218

9.6.21

Rest of Asia-Pacific Smartwatch Market, By Product Type, By Value 2014-2024

219

9.6.22

Rest of Asia-Pacific Smartwatch Market, By Operating System, By Value 2014-2024

220

9.6.23

Rest of Asia-Pacific Smartwatch Market, By Distribution Channel, By Value 2014-2024

221

Rest of the World Smartwatch Market – An Analysis

222

10.1

By Value (2014-2018)

223

10.2

By Value (2019-2024)

225

10.3

Rest of the World Smartwatch Market, By Product Type, By Value 2014-2024

228

10.4

Rest of the World Smartwatch Market, By Operating System, By Value 2014-2024

230

10.5

Rest of the World Smartwatch Market, By Distribution Channel, By Value 2014-2024

232

11

Pricing Analysis

233

12

Market Dynamics

236

12.1

237

Market Drivers

15


Table of Content S.No

Particulars

Page No.

12.2

Market Restraints

242

12.3

Market Trends

244

13

Porter Five Analysis

249

14

SWOT Analysis

251

15

Company Profiling

253

15.1

Apple

254

15.2

Fitbit

257

15.3

Garmin Ltd.

260

15.4

Xiaomi Corporation

262

15.5

Huawei Technologies Co. Ltd.

263

15.6

Samsung

264

15.7

Sony Corporation

265

15.8

TomTom International

266

15.9

Fossil Group

267

16.

About us

268

16


List of Figures Figure No.

Figure Title

Page No.

Figure 1:

Global Smartwatch Market Size, By Value, 2014-2018 (USD Million)

42

Figure 2:

Global Smartwatch Market Size, By Volume, 2014-2018 (Million Units)

43

Figure 3:

Global Total Spending 2014-2019 (USD Billion)

45

Figure 4:

Global Internet User Distribution, By Regions 2018 (%)

45

Figure 5:

Number of Obese Population, By Countries (%)

45

Figure 6:

Degree of Urbanization, By Continent 2018 (%)

45

Figure 7:

Healthcare Expenditure (Share of GDP), By Selected Country, 2014-2017 (In %)

46

Figure 8:

Global Wearable devices Market size, 2015 – 2019 (USD Billion)

47

Figure 9:

Global Wearable devices Market Volume, 2015 – 2019 ( in Million )

47

Figure 10:

Global Aged Population (Above 65), 2014-2018 (% of total)

48

Figure 11:

Global Aged Population(Above 65), By Country, 2017 (% of total)

48

Figure 12:

Percentage of Usage of each function of Smartwatch

49

Figure 13:

Global Smartwatch Market Size, By Value, 2019-2024 (USD Million)

50

Figure 14:

Global Smartwatch Market Size, By Volume, 2019-2024 (in Million Units)

51

Figure 15:

Global Smartwatch Market Size, By Product Type, 2018 (%)

53

Figure 16:

Global Smartwatch Market Size, By Product Type, 2024F(%)

53

Figure 17:

Global Smartwatch Market Size, By Value, By Extension 2014-2018 (USD Million)

54

Figure 18:

Global Smartwatch Market Size, By Value, Forecast, By Extension 2019E-2024F (USD Million)

55

Figure 19:

Global Smartwatch Market Size, By Value, By Standalone 2014-2018 (USD Million)

56

Figure 20:

Global Smartwatch Market Size, By Value, Forecast, By Standalone 2019E-2024F (USD Million)

57

17


List of Figures Figure No.

Figure Title

Page No.

Figure 21:

Global Smartwatch Market Size, By Value, By Classic/Hybrid 2014-2018 (USD Million)

58

Figure 22:

Global Smartwatch Market Size, By Value, Forecast, By Classic/Hybrid 2019E-2024F (USD Million)

59

Figure 23:

Global Smartwatch Market Size, By Operating System, 2018 (%)

60

Figure 24:

Global Smartwatch Market Size, By Operating System, 2024F(%)

60

Figure 25:

Global Smartwatch Market Size, By Value, By WatchOS 2014-2024 (USD Million)

61

Figure 26:

Global Smartwatch Market Size, By Value, By WearOS 2014-2024 (USD Million)

62

Figure 27:

Global Smartwatch Market Size, By Value, By Tizen 2014-2024 (USD Million)

63

Figure 28:

Global Smartwatch Market Size, By Value, By Android 2014-2024 (USD Million)

64

Figure 29:

Global Smartwatch Market Size, By Value, By Others 2014-2024 (USD Million)

65

Figure 30:

Global Smartwatch Market Size, By Distribution Channel, 2018 (%)

66

Figure 31:

Global Smartwatch Market Size, By Distribution Channel, 2024F(%)

66

Figure 32:

Global Smartwatch Market Size, By Value, By Offline Channel 2014-2018 (USD Million)

67

Figure 33:

Global Smartwatch Market Size, By Value, Forecast, By Offline Channel 2019E-2024F (USD Million)

68

Figure 34:

Global Smartwatch Market Size, By Value, By Online Channel, 2014-2018 (USD Million)

69

Figure 35:

Global Smartwatch Market Size, By Value, Forecast, By Online Channel 2019E-2024F (USD Million)

70

Figure 36:

Global Market Share of leading Smartwatch Companies, 2017 (In %)

71

Figure 37:

Global smartwatch Market, Regional Share, 2018 (%)

74

Figure 38:

Global smartwatch Market, Regional Share, 2023F(%)

74

Figure 39:

North America Smartwatch Market Size, By Value, 2014-2018 (USD Million)

76

Figure 40:

North America High Net Worth Individual Population, 2014-2017 (in thousand)

77

18


List of Figures Figure No.

Figure Title

Page No.

Figure 41:

North America High Net Worth Individual Population, By Countries 2014-2017 (in thousand)

77

Figure 42:

North America Urban Population, 2014-2019 (in Million)

78

Figure 43:

North America Internet User Penetration, 2014-2019 (%)

78

Figure 44:

Major Players in North America Smartwatch Market

79

Figure 45:

North America Smartwatch Market Size, By Value, 2019-2024 (USD Million)

80

Figure 46:

North America Smartwatch Market Size, By Product Type, 2018 (%)

82

Figure 47:

North America Smartwatch Market Size, By Product Type, 2024F(%)

82

Figure 48:

North America Smartwatch Market Size, By Value, By Extension, 2014-2018 (USD Million)

83

Figure 49:

North America Smartwatch Market Size, By Value, By Extension, 2019-2024 (USD Million)

83

Figure 50:

North America Smartwatch Market Size, By Value, By Standalone 2014-2018 (USD Million)

84

Figure 51:

North America Smartwatch Market Size, By Value, By Standalone 2019-2024 (USD Million)

84

Figure 52:

North America Smartwatch Market Size, By Value, By Classic/Hybrid 2014-2018 (USD Million)

85

Figure 53:

North America Smartwatch Market Size, By Value, By Classic/Hybrid 2019-2024 (USD Million)

85

Figure 54:

North America Smartwatch Market Size, By Operating System, 2018 (%)

86

Figure 55:

North America Smartwatch Market Size, By Operating System, 2024F(%)

86

Figure 56:

North America Smartwatch Market Size, By WatchOS 2014-2018 (USD Million)

87

Figure 57:

North America Smartwatch Market Size, By WatchOS 2019-2024 (USD Million)

87

Figure 58:

North America Smartwatch Market Size, By WearOS 2014-2018 (USD Million)

88

Figure 59:

North America Smartwatch Market Size, By WearOS 2019-2024 (USD Million)

88

Figure 60:

North America Smartwatch Market Size, By Value, By Tizen 2014-2018 (USD Million)

89

19


List of Figures Figure No.

Figure Title

Page No.

Figure 61:

North America Smartwatch Market Size, By Value, By Tizen 2019-2024 (USD Million)

89

Figure 62:

North America Smartwatch Market Size, By Value, By Android 2014-2018 (USD Million)

90

Figure 63:

North America Smartwatch Market Size, By Value, By Android 2019-2024 (USD Million)

90

Figure 64:

North America Smartwatch Market Size, By Value, By Other Operating System 2014-2018 (USD Million)

91

Figure 65:

North America Smartwatch Market Size, By Value, By Other operating system 2019-2024 (USD Million)

91

Figure 66:

North America Smartwatch Market Size, By Distribution Channel, 2018(%)

92

Figure 67:

North America Smartwatch Market Size, By Distribution Channel, 2024F(%)

92

Figure 68:

North America Smartwatch Market , By Value, By Retail Channel 2014-2018 (USD Million)

93

Figure 69:

North America Smartwatch Market Market, By Value, By Retail Channel 2019-2024 (USD Million)

93

Figure 70:

North America Smartwatch Market, By Value, By Online Channel, 2019-2024 (USD Million)

94

Figure 71:

North America Smartwatch Market, By Value, By Online Channel 2019-2024 (USD Million)

94

Figure 72:

US Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

96

Figure 73:

Smartwatch Use Preferences in US

97

Figure 74:

United States Wearables Users, 2015-2019 (In Million)

97

Figure 75:

Percentage of Internet Users in United States 2019 and 2022E (%)

97

Figure 76:

United States Watch Sales, By Type, 2014-2018 (%)

97

Figure 77:

US Smartwatch Market Size, By Value, 2019-2024 (In USD Million)

98

Figure 78:

US Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

99

Figure 79:

US Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

100

Figure 80:

US Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

101

20


List of Figures Figure No.

Figure Title

Page No.

Figure 81:

Canada Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

104

Figure 82:

Canada Average Expenditure Per Household 2014-2017 (USD Dollars)

105

Figure 83:

Percentage of Internet Users in Canada 2014-2017 (%)

105

Figure 84:

Overweight and Obese Population in Canada, 2015-2017 (% of total)

105

Figure 85:

Canada Smartwatch Market Size, By Value, 2019-2024 (In USD Million)

106

Figure 86:

Canada Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

107

Figure 87:

Canada Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

108

Figure 88:

Canada Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

109

Figure 89:

Europe Smartwatch Market Size, By Value, 2014-2018 (USD Million)

112

Figure 90:

Central and Eastern Europe Total Spending 2014-2019F (USD Billions)

113

Figure 91:

Western Europe Total Spending 2014-2019F (USD Billions)

113

Figure 92:

Europe High Net Worth Individual Population, By Countries 2014-2017 (in Thousand)

113

Figure 93:

North America Urban Population, 2014-2019 (in Million)

114

Figure 94:

Internet penetration in European Union, By Countries (%)

114

Figure 95:

Europe Smartwatch Market Size, By Value, 2019-2024 (USD Million)

115

Figure 96:

Europe Smartwatch Market Size, By Product Type, 2018 (%)

117

Figure 97:

Europe Smartwatch Market Size, By Product Type, 2024F(%)

117

Figure 98:

Europe Smartwatch Market Size, By Value, By Extension, 2014-2018 (USD Million)

118

Figure 99:

Europe Smartwatch Market Size, By Value, By Extension, 2019-2024 (USD Million)

118

Figure 100:

Europe Smartwatch Market Size, By Value, By Standalone 2014-2018 (USD Million)

119

21


List of Figures Figure No.

Figure Title

Page No.

Figure 101:

Europe Smartwatch Market Size, By Value, By Standalone 2019-2024 (USD Million)

119

Figure 102:

Europe Smartwatch Market Size, By Value, By Classic/Hybrid 2014-2018 (USD Million)

120

Figure 103:

Europe Smartwatch Market Size, By Value, By Classic/Hybrid 2019-2024 (USD Million)

120

Figure 104:

Europe Smartwatch Market Size, By Operating System, 2018 (%)

121

Figure 105:

Europe Smartwatch Market Size, By Operating System, 2024F(%)

121

Figure 106:

Europe Smartwatch Market Size, By WatchOS 2014-2018 (USD Million)

122

Figure 107:

Europe Smartwatch Market Size, By WatchOS 2019-2024 (USD Million)

122

Figure 108:

Europe Smartwatch Market Size, By WearOS 2014-2018 (USD Million)

123

Figure 109:

Europe Smartwatch Market Size, By WearOS 2019-2024 (USD Million)

123

Figure 110:

Europe Smartwatch Market Size, By Value, By Tizen 2014-2018 (USD Million)

124

Figure 111:

Europe Smartwatch Market Size, By Value, By Tizen 2019-2024 (USD Million)

124

Figure 112:

Europe Smartwatch Market Size, By Value, By Android 2014-2018 (USD Million)

125

Figure 113:

Europe Smartwatch Market Size, By Value, By Android 2019-2024 (USD Million)

125

Figure 114:

Europe Smartwatch Market Size, By Value, By Other Operating System 2014-2018 (USD Million)

126

Figure 115:

Europe Smartwatch Market Size, By Value, By Other operating system 2019-2024 (USD Million)

126

Figure 116:

Europe Smartwatch Market Size, By Distribution Channel, 2018(%)

127

Figure 117:

Europe Smartwatch Market Size, By Distribution Channel, 2024F(%)

127

Figure 118:

Europe Smartwatch Market , By Value, By Retail Channel 2014-2018 (USD Million)

128

Figure 119:

Europe Smartwatch Market Market, By Value, By Retail Channel 2019-2024 (USD Million)

128

Figure 120:

Europe Smartwatch Market, By Value, By Online Channel, 2019-2024 (USD Million)

129

22


List of Figures Figure No.

Figure Title

Page No.

Figure 121:

Europe Smartwatch Market, By Value, By Online Channel 2019-2024 (USD Million)

129

Figure 122:

UK Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

132

Figure 123:

United Kingdom Population, By Gender

133

Figure 124:

Internet Users in UK, By Age Group 2017 (%)

133

Figure 125:

UK Smartwatch Market Size, By Value, 2019-2024 (In USD Million)

134

Figure 126:

UK Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

135

Figure 127:

UK Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

136

Figure 128:

UK Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

137

Figure 129:

Germany Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

140

Figure 130:

Number of Internet Users in Germany, 2014-2018 (in millions)

141

Figure 131:

High Net Worth Population in Germany, 2014-2018 ( in Million)

141

Figure 132:

Urbanisation in Germany, 2014-2018 ( in Million)

141

Figure 133:

Germany Smartwatch Market Size, By Value, 2019-2024 (In USD Million)

142

Figure 134:

Germany Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

143

Figure 135:

Germany Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

144

Figure 136:

Germany Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

145

Figure 137:

France Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

148

Figure 138:

Internet Penetration in France, 2014-2018 (%)

149

Figure 139:

France Urban population, 2013-2017 (% of total population)

149

Figure 140:

Number of mobile phone users in France, 2015 to 2019 (in millions)

149

23


List of Figures Figure No.

Figure Title

Page No.

Figure 141:

France Smartwatch Market Size, By Value, 2019-2024 (In USD Million)

150

Figure 142:

France Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

151

Figure 143:

France Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

152

Figure 144:

France Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

153

Figure 145:

Italy Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

156

Figure 146:

Degree of Urbanization in Italy, 2014-2017 (%)

157

Figure 147:

Number of Internet Users in Italy, 2014-2018 (in million)

157

Figure 148:

Total Population of Italy, 2014-2017 (in million)

157

Figure 149:

Italy Smartwatch Market Size, By Value, 2019-2024 (In USD Million)

158

Figure 150:

Italy Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

159

Figure 151:

Italy Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

160

Figure 152:

Italy Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

161

Figure 153:

Rest of Europe Smartwatch Market Size, By Value, 2014-2018 (USD Million)

163

Figure 154:

Rest of Europe Smartwatch Market Size, By Value, 2019-2024 (USD Million)

163

Figure 155:

Rest of Europe Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

164

Figure 156:

Rest of Europe Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

165

Figure 157:

Rest of Europe Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

166

Figure 158:

Asia Pacific Smartwatch Market Size, By Value, 2014-2018 (USD Million)

168

Figure 159:

Asia-Pacific total Spending 2013-2019F (USD Billion)

169

Figure 160:

Asia Pacific Smartwatch Market Size, By Value, 2019-2024 (USD Million)

170

24


List of Figures Figure No.

Figure Title

Page No.

Figure 161:

Asia-Pacific Smartwatch Market Size, By Product Type, 2018 (%)

172

Figure 162:

Asia-Pacific Smartwatch Market Size, By Product Type, 2024F(%)

172

Figure 163:

Asia-Pacific Smartwatch Market Size, By Value, By Extension, 2014-2018 (USD Million)

173

Figure 164:

Asia-Pacific Smartwatch Market Size, By Value, By Extension, 2019-2024 (USD Million)

173

Figure 165:

Asia-Pacific Smartwatch Market Size, By Value, By Standalone 2014-2018 (USD Million)

174

Figure 166:

Asia-Pacific Smartwatch Market Size, By Value, By Standalone 2019-2024 (USD Million)

174

Figure 167:

Asia-Pacific Smartwatch Market Size, By Value, By Classic/Hybrid 2014-2018 (USD Million)

175

Figure 168:

Asia-Pacific Smartwatch Market Size, By Value, By Classic/Hybrid 2019-2024 (USD Million)

175

Figure 169:

Asia-Pacific Smartwatch Market Size, By Operating System, 2018 (%)

176

Figure 170:

Asia-Pacific Smartwatch Market Size, By Operating System, 2024F(%)

176

Figure 171:

Asia-Pacific Smartwatch Market Size, By WatchOS 2014-2018 (USD Million)

177

Figure 172:

Asia-Pacific Smartwatch Market Size, By WatchOS 2019-2024 (USD Million)

177

Figure 173:

Asia-Pacific Smartwatch Market Size, By WearOS 2014-2018 (USD Million)

178

Figure 174:

Asia-Pacific Smartwatch Market Size, By WearOS 2019-2024 (USD Million)

178

Figure 175:

Asia-Pacific Smartwatch Market Size, By Value, By Tizen 2014-2018 (USD Million)

179

Figure 176:

Asia-Pacific Smartwatch Market Size, By Value, By Tizen 2019-2024 (USD Million)

179

Figure 177:

Asia-Pacific Smartwatch Market Size, By Value, By Android 2014-2018 (USD Million)

180

Figure 178:

Asia-Pacific Smartwatch Market Size, By Value, By Android 2019-2024 (USD Million)

180

Figure 179:

Asia-Pacific Smartwatch Market Size, By Value, By Other Operating System 2014-2018 (USD Million)

181

Figure 180:

Asia-Pacific Smartwatch Market Size, By Value, By Other operating system 2019-2024 (USD Million)

181

25


List of Figures Figure No.

Figure Title

Page No.

Figure 181:

Asia-Pacific Smartwatch Market Size, By Distribution Channel, 2018(%)

182

Figure 182:

Asia-Pacific Smartwatch Market Size, By Distribution Channel, 2024F(%)

182

Figure 183:

Asia-Pacific Smartwatch Market , By Value, By Retail Channel 2014-2018 (USD Million)

183

Figure 184:

Asia-Pacific Smartwatch Market Market, By Value, By Retail Channel 2019-2024 (USD Million)

183

Figure 185:

Asia-Pacific Smartwatch Market, By Value, By Online Channel, 2019-2024 (USD Million)

184

Figure 186:

Asia-Pacific Smartwatch Market, By Value, By Online Channel 2019-2024 (USD Million)

184

Figure 187:

China Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

187

Figure 188:

Number of Internet Users in China, 2014-2017 (in Million)

188

Figure 189:

China Urban Population, 2014-2017 (% of total)

188

Figure 190:

China Smartwatch Market Size, By Value, 2018-2023 (In USD Million)

189

Figure 191:

China Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

190

Figure 192:

China Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

191

Figure 193:

China Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

192

Figure 194:

Japan Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

195

Figure 195:

Internet Penetration in Japan, 2014-2018 (%)

196

Figure 196:

Japan Urban population, 2013-2017 (In Million)

196

Figure 197:

Japan Smartwatch Market Size, By Value, 2018-2023 (In USD Million)

197

Figure 198:

Japan Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

198

Figure 199:

Japan Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

199

Figure 200:

Japan Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

200

26


List of Figures Figure No.

Figure Title

Page No.

Figure 201:

India Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

203

Figure 202:

Number of Internet Users in India, 2014-2017 (in millions)

204

Figure 203:

Number of Urban Population in India, 2014-2017 (in millions)

204

Figure 204:

India Smartwatch Market Size, By Value, 2018-2023 (In USD Million)

205

Figure 205:

India Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

206

Figure 206:

India Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

207

Figure 207:

Italy Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

208

Figure 208:

Australia Smartwatch Market Size, By Value, 2014-2018 (In USD Million)

211

Figure 209:

Distribution of internet users in Australia, By Age Group 2016

212

Figure 210:

Degree of urbanization in Australia, 2014-2017 (%)

212

Figure 211:

Australia Smartwatch Market Size, By Value, 2018-2023 (In USD Million)

213

Figure 212:

Australia Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

214

Figure 213:

Australia Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

215

Figure 214:

Australia Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

216

Figure 215:

Rest of APAC Smartwatch Market Size, By Value, 2014-2018 (USD Million)

218

Figure 216:

Rest of APAC Smartwatch Market Size, By Value, 2018-2023 (USD Million)

218

Figure 217:

Rest of Asia-Pacific Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

219

Figure 218:

Rest of Asia-Pacific Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

220

Figure 219:

Rest of APAC Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

221

Figure 220:

Rest of the World Smartwatch Market Size, By Value, 2013-2017 (USD Million)

223

27


List of Figures Figure No.

Figure Title

Page No.

Figure 221:

Latin America Total Spending 2014-2019F (USD Billions)

224

Figure 222:

Middle East/ Africa Total Spending 2013-2019F (USD Billions)

224

Figure 223:

Rest of the World Smartwatch Market Size, By Value, 2018-2023 (USD Million)

225

Figure 224:

Rest of the World Smartwatch Market Size, By Product Type, 2018 (%)

227

Figure 225:

Rest of the World Smartwatch Market Size, By Product Type, 2024F(%)

227

Figure 226:

Rest of the World Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

228

Figure 227:

Rest of the World Smartwatch Market Size, By Operating System, 2018 (%)

229

Figure 228:

Rest of the World Smartwatch Market Size, By Operating System, 2024F(%)

229

Figure 229:

Rest of the World Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

230

Figure 230:

Rest of the World Smartwatch Market Size, By Distribution Channel, 2018(%)

231

Figure 231:

Rest of the World Smartwatch Market Size, By Distribution Channel, 2024F(%)

231

Figure 232:

Rest of the World Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

232

Figure 233:

Apple Unit sales of Smartwatch, 2015-2018 ( in Million Units)

255

Figure 234:

Apple Product Revenue, By Segment 2017

255

Figure 235:

Fitbit Smartwatch Revenue 2014-2018 (USD Millions)

258

Figure 236:

Average Selling Price of Fitbit watch 2014-2017 (USD)

258

Figure 237:

Fitbit Unit Sales of Smartwatch, 2014-2018 ( in Million)

259

Figure 238:

Fitbit Devices Revenue, By Geographical Region, 2016 & 2017

259

Figure 239:

Garmin Ltd. Outdoor Segment Market Revenue, 2014-2018 (USD Millions)

261

Figure 240:

Garmin Ltd. Revenue, By Geographical Region, 2017 (%)

261

28


List of Figures Figure No.

Figure Title

Page No.

Table A:

Types of Smartwatch

38

Table B:

Comparison of Leading Smart Watches

234

Table C:

Apple Smartwatch Models

256

29


Research Methodology For our study on Global Smartwatch Market, we have conducted comprehensive secondary research followed by an extensive primary research.

In the process of

secondary research, we have scrutinized

industry documents, accessed from open sources, premium paid databases and our internal base. In the process of primary research,

knowledge

we have interviewed various industry experts across the

structure of the Smartwatch industry.

Market size of the actual period (2014-2018) has been evaluated on the basis of growth trends of the industry in the last five years, and confirming the findings through primary research. Annual reports of the companies are scanned to further validate the market value which involves the revenues earned by the Smartwatch companies. Market sizing and growth in the forecast period (2019-2024) is estimated through revenue mapping, growth of the economies, growth across various industry sectors and historical growth pattern of the industry. All the relevant data points/ statistics in the forecast period are validated through relevant and reliable primary sources.

Report Focus: Global Smartwatch Market. - By Product Type (Extension, Standalone and Classic) - By Operating System (WatchOS, WearOS, Tizen, RTOS, and Others - By Distributional Channel (Offline and Online) - By Region ( North America, Europe, Asia Pacific, ROW), - By Country ( U.S., Canada, Mexico, UK, Germany, Spain, China, Japan, South Korea) - Company Coverage (Apple, Sony Corporation, Fossil Group, Xiaomi Corporation, TomTom International, Samsung, Garmin Ltd, Fitbit and Huawei Technologies Co. Ltd.)

Companies Contacted:

30


Global Smartwatch Market, By Value Increasing popularization of smart wearable devices coupled with growing awareness about personal health and fitness is injecting growth in the smartwatch market. Figure 1: Global Smartwatch Market Size, By Value, 2014-2018 (USD Million) CAGR 2014-2018 xx%

2014

2015

2016

2017

2018

Source: Azoth Analytics Estimates Xx Xx Xx Xx Xx Xx xx

31


Global Smartwatch Market, By Volume Diminishing average selling price of smart wearables devices coupled with emergence of contactless payment technology is bolstering the market growth. Figure 2: Global Smartwatch Market Size, By Volume, 2014-2018 (Million Units) CAGR 2014-2018 xx%

2014

2015

2016

2017

2018

Source: Azoth Analytics Estimates Xx Xx Xx Xx Xx Xx

32


Global Smartwatch Market : By WatchOS Increasing spending on premium health oriented technology products coupled with stable average selling price is stimulating demand in the market.

Figure 25: Global Smartwatch Market Size, By Value, By WatchOS 2014-2024 (USD Million)

2014

Xx

CAGR 2014-2018

CAGR 2019-2024

xx%

xx%

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Source: Azoth Analytics Estimates

Xx Xx Xx Xx Xx

33


Global Smartwatch Market : By Android/WearOS Amplifying development of various innovative features coupled with rising consumer demand of high quality smartwatch processors is expected to propel the market growth globally

Figure 26: Global Smartwatch Market Size, By Value, By WearOS 2014-2024 (USD Million)

2014

CAGR 2014-2018

CAGR 2019-2024

xx%

xx%

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Source: Azoth Analytics Estimates Xx Xx Xx Xx Xx Xx

34


Global Smartwatch Market : By Offline Channel High degree of trust on retail outlets coupled with growing penetration of hypermarkets and supermarkets stores across the globe is driving the market of smartwatch in the recent years. Figure 32: Global Smartwatch Market Size, By Value, By Offline Channel 2014-2018 (USD Million) CAGR 2014-2018 xx%

2014

Xx

2015

2016

2017

2018

Source: Azoth Analytics Estimates

Xx Xx Xx Xx Xx xx

35


Global Smartwatch Market : By Offline Channel Introduction of market specific products coupled with rising sedentary lifestyle of consumers, is anticipated to elevate the demand in the future. Figure 33: Global Smartwatch Market Size, By Value, Forecast, By Offline Channel 2019E-2024F (USD Million)

CAGR 2018-2024 xx%

2014

Xx

2015

2016

2017

2018

Source: Azoth Analytics Estimates

Xx Xx Xx Xx Xx

36


North America Smartwatch Market Overview – By Extension Increasing investment on building connected ecosystem coupled with escalating growth in demand of wireless fitness and sports devices, is fuelling the market growth in the region Figure 48: North America Smartwatch Market Size, By

Figure 49: North America Smartwatch Market Size, By

Value, By Extension, 2014-2018 (USD Million)

Value, By Extension, 2019-2024 (USD Million)

2014

Xx

CAGR 2014-2018

CAGR 2019-2024

xx%

xx%

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Source: Azoth Analytics Estimates

Xx Xx Xx Xx Xx

37


North America Smartwatch Market Overview – By WatchOS Stable average selling price of Apple’s smartwatch and emerging demand of luxury watch brands among the young consumers is supplementing market growth in North America

Figure 56: North America Smartwatch Market Size, By

Figure 57: North America Smartwatch Market Size, By

WatchOS 2014-2018 (USD Million) CAGR 2014-2018

WatchOS 2019-2024 (USD Million) CAGR 2019-2024 xx%

xx%

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Source: Azoth Analytics Estimates Xx Xx Xx Xx Xx Xx

38


North America Smartwatch Market – By Online Channel Emergence of various private label brands over the e-commerce website will boost the market in future

Figure 70: North America Smartwatch Market, By Value, By

Figure 71: North America Smartwatch Market, By Value, By

Online Channel, 2019-2024 (USD Million)

Online Channel 2019-2024 (USD Million)

2014

CAGR 2014-2018

CAGR 2019-2024

xx%

xx%

2015

2016

2017

2018 2019 2020 Source: Azoth Analytics Estimates

2021

2022

2023

2024

Xx Xx Xx Xx Xx Xx

39


US Smartwatch Market, By Value Presence of highly diversified and technologically advanced companies and entrance of new players with growing focus on fitness applications is supporting the demand for smartwatch in the US market

Figure 72: US Smartwatch Market Size, By Value, 2014-2018 (In USD Million) CAGR 2014-2018 xx%

2014

2015

2016

2017

2018

Source: Azoth Analytics Estimates Xx Xx Xx Xx Xx Xx xx

40


US Smartwatch Market, By Value Increasing purchase of smartwatches by millennial population in the country coupled with up surge in the adoption among employers in servicing industry, is expected to pull the smartwatch market growth. Figure 77: US Smartwatch Market Size, By Value, 2019-2024 (In USD Million) CAGR 2018-2024 xx%

2014

2015

2016

2017

2018

Source: Azoth Analytics Estimates Xx Xx Xx Xx Xx Xx

41


US Smartwatch Market, By Product Type Figure 78: US Smartwatch Market: By Product Type, By Value 2014-2024 (USD Million)

2014

CAGR 2014-2018

CAGR 2019-2024

Extension : xx% Standalone : xx% Classic/Hybrid : xx%

Extension : xx% Standalone : xx% Classic/Hybrid : xx%

2015

2016

2017

2018

2019

Extension

2020

Standalone

2021

2022

2023

2024

Classic/Hybrid

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Extension

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

Standalone

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

Classic/Hybrid

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

Source: Azoth Analytics Estimates

42


US Smartwatch Market, By Operating System Figure 79: US Smartwatch Market: By Operating System, By Value 2014–2024 (USD Million)

2014

CAGR 2014-2018

CAGR 2019-2024

WatchOS : xx% WearOS: xx% Tizen: xx% RTOS: xx% Others : xx%

WatchOS : xx% WearOS: xx% Tizen: xx% RTOS: xx% Others : xx%

2015

2016

2017

WatchOS

2018

2019

WearOS

Tien

2020

2021

RTOS

2022

2023

2024

Others

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

WatchOS

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

WearOS

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

Tizen

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

RTOS

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

Others

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

Source: Azoth Analytics Estimates

43


US Smartwatch Market, By Distribution Channel Figure 80: US Smartwatch Market: By Distribution Channel, By Value 2014-2024 (USD Million)

2014

CAGR 2014-2018

CAGR 2019-2024

Online : xx% Offline : xx%

Online : xx% Offline : xx%

2015

2016

2017

2018

2019

Online

2020

2021

2022

2023

2024

Offline

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Online

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

Offline

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

Source: Azoth Analytics Estimates

44


About Azoth Analytics Pvt Ltd.

Azoth Analytics (ISO 9001:2015) is a business research and analytics company that creates in-depth research reports and provides customized research solutions and consulting services. An ISO 9001:2015 certified company, Azoth Analytics adheres to international quality management standard and has strong commitment to a culture of continuous improvement. The business research and market analysis of Azoth Analytics helps organizations across different industry verticals solve their business problems. Strategic market sizing and data dredging techniques include secondary research, and primary research (interviews with management personnel and industry experts). Azoth Analytics provide syndicated and customized market research reports on different verticals including pharmaceutical and healthcare, oil and gas and power, chemicals, automotive, technology, FMCG, food & beverages and media sectors.

(c) AZOTH Analytics

45


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