Based on the most recent research conducted by Future Market Insights, the Kid’s watch market is poised for consistent growth from 2021 to 2031, with an estimated Compound Annual Growth Rate (CAGR) of approximately 12%.
The increasing demand for children’s watches is attributed to the rapid advancements in technology implementation. Additionally, the proliferation of digital platforms, escalating health awareness, and the availability of diverse designs and software platforms contribute significantly to the expansion of the children’s watch industry.
In today’s highly competitive environment, individuals across all sectors are compelled to enhance their skills and expertise in various professions to remain sharp, intelligent, and forward-thinking. As a result, the demand for products that facilitate continuous learning and productivity has increased significantly.
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The integration of advanced technologies in kids’ watches has revolutionized their functionality, providing users with the ability to record activities and receive timely notifications and reminders. This convenience has greatly appealed to all generations, particularly kids, making kids’ watches a sought-after item and driving their sales to new heights.
Further, the presence of digital platforms, rising health concerns, availability of various designs and software platforms are owing to the growth of the kids’ watch industry
Kids Watch Market Forecast and CAGR
According to the latest research by Future Market Insights, the kids watch market is set to witness steady growth during 2021-2031, with a CAGR of around 12%. Demand for kids watches will witness growth due to rapidly growing advancements in the implementation of technologies.
Further, the presence of digital platforms, rising health concerns, availability of various designs and software platforms are owing to the growth of the kids’ watch industry.
What is Driving Demand for Kids’ Watch Market
The rapid development in the kids watch industry in terms of sales is due to the emerging technological advancements that enable features like quick notifications to allow the guardian to keep track of movement.
Further, the introduction of sharing of location information in case of a sudden emergency, accessible through a press of a button or a touch pattern has resulted in boosting the demand therefore, creating a new opportunity for sales.
Moreover, the emerging demands from the user-end are motivating the manufacturers to not only provide products with the latest technology but, also enabling them to modify the shape and design of the kids watch to make it look attractive without reducing its functionality. Additionally, the integrity in technology and display advantages that enhance the user experience is leading the growth of the kids watch industry.
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U.S. and Canada Kids Watch Market Outlook
The U.S. is one of the largest markets for kids watches globally. The U.S. kids watch industry is set to grow in demand in the given forecast period due to the rising health concern among kids guardians. The countries of North America alone consists of 14.4 million kids suffering from obesity and thus, the features of kids watch to track their physical movement is projected to rise the demand for kids watch.
Further, the populace is attracted to advanced technologies and devices loaded with smart, fancy features owing to the rising demand for kids watches.
In addition, the countries consist of various key players that conduct product launches and additional activities along with the event that attracts a large number of customers to visit and boost the sales of kids watches.
Moreover, the presence of a high global economy and adoption of digital platforms for purchasing of products that allows the customer to enjoy various discounts, avail coupons are projected to grow the demand for kids watch business in U.S. and Canada.
Europe Demand Outlook for Kids Watch Market
Europe is one of the biggest regions for the growth of the kids watch business due to the rising number of cases regarding kids kidnapping or abduction.
Based on 2018 information, the European hotlines received 91,655 calls based on a child missing due to various reasons. Further, the escalating wearable devices demand has increased to the countries of Europe.
In addition, the rising number of sports activities is influenced by factors like the increasing growth rate of the population. Moreover, the existence of many industries that manufacture components and parts for children’s watches attracts a huge number of investors from around the world, resulting in chances for technological advancement and increased sales of children’s watches.\
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Who are the Key Manufacturers and Suppliers of Kids Watch
Some of the leading manufacturers and suppliers of kids watch include
- Doki Technologies,
- Huawei Technologies,
- Omate, VTech Holdings,
- LG Electronics,
- Shenzhen Wonlex Technology Co., Ltd.,
- Guangzhou Weiya Watch Co. Ltd.,
- Casio Computer Co. Ltd.,
- Pebble, Xiaomi Global Community,
- Precise Innovation,
- Okii,
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Kids Watch Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
Key Segments
By Application:
- Individual Use
- School
- Kids Training Centers
By Age:
- 1 – 6
- 6 – 14
By Distribution Channel:
- Wholesalers/ Distributors
- Specialty Stores
- Independent Electronics Stores
- Online Retailers
- Others
By Region:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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