Market Trends of Middle East and Africa Smartwatch Industry
This section covers the major market trends shaping the MEA Smartwatch Market according to our research experts:
The rise in initiatives for monitoring the health concerns of older people
- The aging population and long-term chronic medical conditions are among the key factors positively influencing the market's growth in the region, along with the rising need for remote patient monitoring solutions. Hospital executives are under constant pressure to cut expenses while maintaining a high standard of patient care. Hospitals use wireless technologies in this setting to run more smoothly, facilitate patient care, and enhance patient experiences.
- The market is witnessing various mergers, acquisitions, and investments by key players and the government as part of their crucial strategy to improve business and their presence to reach customers and meet their requirements for various applications. The rise in such initiatives will create immense growth opportunities for the market to grow and expand throughout the forecast period.
- For instance, in October this year, to accelerate digital transformation and deliver advanced, comprehensive health services, the Ministry of Health and Prevention (MoHAP) signed a Memorandum of Understanding (MoU) with Injazat, the UAE's domestic technology champion in digital transformation, cloud, and cyber security. The partnership aims to create various digital health solutions in line with the Ministry's strategic goals of offering advanced technology and AI integration services. The MoU also reflects the government's goals of elevating the UAE to a premier international hub for smart healthcare.
- Also, in September this year, Saudi Telecom Company (STC), a service provider in Saudi Arabia, declared that it had completed the First Global 1.2T/channel trial in its DWDM optical network with Huawei. It accomplishment fully reflects STC's competitive advantages in ultra-high-speed transmission and confirms the 1.2T/channel transmission capability on the STC live network. The optical layer in the test uses Super C technology, and the maximum single-fiber capacity can reach 48T. This guarantees bandwidth for new applications and services being developed in Saudi Arabia, including e-government, smart healthcare, and smart education, and speeds up the country's digital transformation.
- As per World Bank, the total population aged 65 and above in the Middle East & North Africa was 26,418,337 last year, whereas, in the previous year, the overall count was 25,274,050. This rise in the overall count of the population aged 65 and above in the Middle East & North Africa will significantly boost the market growth opportunities throughout the forecast period.
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United Arab Emirates is Expected to Hold Major Share
- Fashion and functionality are among the significant aspects driving the smartwatch segment in the United Arab Emirates. Further, according to Samsung Gulf Electronics, the smartwatch is no longer only a smartwatch or tool; it is now a fashion that is part of consumers' daily life. Style and functionality are among the significant aspects of driving wearables in the United Arab Emirates.
- Consumers are increasingly looking out for sleek designs, trendy interfaces, and different types and colors of straps. The next wave of growth for the smartwatch market is expected to rise from the adoption by value-seeking consumers and from existing fitness band owners looking to enhance smartwatches now that they provide a better value proposition.
- In June of the current year, the HUAWEI WATCH D, a wrist-type ECG and blood pressure monitoring gadget, was introduced by Huawei Consumer Business Group in the UAE. HUAWEI WATCH D enables wrist-type ECG and blood pressure monitoring everywhere, bringing the convenience of health monitoring to consumers' wrists. At only 40.9g, HUAWEI WATCH D is lightweight. It offers several workout programs and features for keeping track of health. It also employs a small pump to take a reliable blood pressure reading at any time or location.
- Also, In September this year, Fitbit declared the launch of the next generation of Fitbit wearables combining Fitbit's health and wellness tools with the smarts of Google - Sense 2, Versa 4, and Inspire 3 in the UAE. Fitbit aimed to deliver products with improved batteries, even slimmer and more comfortable designs, and less daily charging requirements.
- As per Telecommunications Regulatory Authority (UAE), in the United Arab Emirates, there were approximately 3.68 million internet subscriptions as of earlier this year. Compared to December 2020, this number represents an increase of almost 700 000 subscriptions. This rise in overall internet subscriptions will positively influence the market, bringing enormous growth opportunities for the market to grow and expand throughout the forecast period.
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