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Are Smartwatches Posing A Challenge To Traditional Watch Manufacturers?

Are Smartwatches Posing A Challenge To Traditional Watch Manufacturers?

Well, yes.

If we only look at the amazing rate at which the global market size of smartwatches is increasing - we'll instantly be able to detect that it's going to happen.

But to be on the safe side, let's just say that smartwatches have already posed a very big challenge to traditional watch manufacturers.

The overall reason, the one-word answer, as simple as it can get, is this: It's due to better functionality.

Smartwatches offer better functionality than traditional watches.

Let's take a quick look at what this blog post will discuss:

  • The global market size for Smartwatches was USD 18.62 billion in 2020.
  • The global market size for Smartwatches is projected to grow to USD 58.21 billion
  • A Whopping 14.9% CAGR!
  • 50% of people buy smartwatches because of the convenience that comes along with them.
  • 22% because of Fitness Tracking.
  • 17% because of other health features.

Will Smartwatches Replace Traditional Watches?

There's a high chance that it would, in fact, happen.

We mean, let's just take a look at the increasing global market size of smartwatches before we talk about anything else.

The global market size for Smartwatches was USD 18.62 billion in 2020.

Moving forth to 2028 - it's projected to grow to USD 58.21 billion - at a whopping 14.9% CAGR!

Now let's stop there for a minute and talk about why people buy traditional watches.

There are various reasons for that.

When it comes to buying high-end traditional watches - it has more to do with making an investment portfolio.

People who are more interested in maintaining an investment portfolio are often interested in buying these watches, usually coming from Rolex and other similar high-end brands.

Apart from that, there's just one thing that a traditional watch can do - and the world has moved forth.

You see, a lot of people don't even feel like wearing a traditional watch - simply because there are about 9 or 10 things in a house that can tell time - and do things more than that - all at the same time.

So when we're talking about a smartwatch vs a traditional watch - this is what we're dealing with here.

Why Are Smartwatches Better Than Traditional Watches?

Better Functionality

Functionality is one of the primary reasons why people buy smartwatches more than traditional ones.

And that has to do with the fact that people are more inclined towards better use - as opposed to just looking at what time it is.

Simply put, the functionalities offered by smartwatches can't be matched by traditional watches.

Smartwatches allow users to track their fitness, receive notifications, make phone calls, control music, and even make mobile payments.

And that's what makes it the best option for the busy bees.

Getting Ahead Of Your Schedule

If there's anything that busy bees love - it's getting ahead of their schedule.

You can call Uber from your wrist, make calls, send messages, and even listen to Audiobooks too.

If that's not what getting ahead of one's schedule looks like, we don't know what else does.

Not only that, but it's also worth noting that most popular smartphone apps now also have smartwatch versions.

Why Do People Buy Smartwatches?

Fitness Tracking

For many users, Fitness Tracking is one of the most important reasons why people buy smartwatches.

Smartwatches are good at automatically tracking fitness activities such as workouts, running, and hiking.

Simply put, a smartwatch will track all of these activities without having you notice - and maintain a fitness report for you as well.

In addition to that, a smartwatch has other equally important features that allow it to support fitness tracking for you.

Such features include being water-proof and having a GSP to help you keep track of your routes.

Read What Made You Buy A Smartwatch By Android Central

Unmatched Convenience: The Pure Awesomeness Of Owning A Smartwatch

Owning a smartwatch and enjoying unmatched convenience go hand in hand.

In fact, a survey conducted by Android Central explores that 50% of the people who own a smartwatch say that it's due to the convenience that comes with owning a smartwatch - the main driver of why they purchase a smartwatch.

Fitness Tracking was followed by 22% of votes.

Read The Amazing Survey Here: Our latest poll highlights the biggest reason why we buy smartwatches | Android Central

Health Features

Health Features came in at third, with 17% votes.

Health features such as tracking sleep, and oxygen, sending sedentary reminders, breathing exercises, menstruation mode for women, and a list of other health features contribute to the reason why people buy a smartwatch.

You can easily find all of these features in both of our smartwatches

In fact, our Smart Fit 3 comes with over 60 sports modes to keep that fire in you raging!

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