Canada Kid’s Smartwatch Market is expected to grow at a CAGR of 14.0% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.
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Canada kid’s smartwatch market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.
The major players dealing in Canada kid’s smartwatch market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.
For instance:
- In September 2021, VTech Holdings Limited launched a new product named KidiZoom Smartwatch DX3. This watch includes new features like school mode and the ability to play a game with other DX3 Users. The company is aiming to sell this product to children below age 12 across the globe to boost its revenue
Fitbit is the dominating player in Canada kid’s smartwatch market. The other key players existing in the market are VTech Holdings Limited, XPLORA TECHNOLOGIES LTD., Garmin Ltd., SPACETALK LTD., THE ANGEL WATCH COMPANY, KD GROUP and others.
Fitbit (Acquired by Alphabet Inc.)
Fitbit (Acquired by Alphabet Inc.), founded in the year 2007, headquarter in California, U.S. The company focuses on producing wireless-enabled wearable and software for physical fitness monitoring and activity tracking for its customer. The company has several product categories which are Smartwatches, trackers, services, smart scales, accessories, gear in which trackers is market focused category.
For instance,
- In August 2021, Fitbit (Acquired by Alphabet Inc.) launched a new product named Fitbit Charge 5 for advanced health and fitness tracking. The product is equipped with sensors that can record and display the pulse on customer fitness, stress, heart health, and overall wellbeing. This product is also going to be available for the kid in the ACE series soon. The company is aiming to expand its kid smartwatch offering with this launch.
The company has presence across Europe, North America and Asia-Pacific.
VTech Holdings Limited
VTech Holdings Limited, founded in the year 1976, headquartered is in Tai Po, Hong Kong. The company is engaged in the manufacturing, designing, and supply of electronics products across globe while creating sustainable value. The company has business segments including electronic learning products, telecommunication products, contract manufacturing services in which electronic learning products is the market focused segment. The company has several product categories including baby, infant and preschool, kiditech, new releases, gift guide, in which Infant and Preschool is the market focused category.
For instance,
- In March 2022, VTech Holdings Limited launched two new products in its popular line of children's electronics, named My First Kidi Smartwatch and KidiGo NexTag. These products will help parents to make their children learn about time management. These products will also help children to relax with a mindfulness breathing app. The company is aiming to sell these products at a rapid rate to increase its market reachability across the globe
The company has wide presence across North America, South America, Europe, Asia-Pacific, Middle East and Africa. The company has subsidiaries such as snom (Germany), LeapFrog (U.S.), VTech Communications Ltd, (China), Vtech Electronics Europe Plc (U.K.), VTech Electronics North America, and LLC (U.S.) among others.
Ltd
Garmin Ltd headquarter in Utah, U.S. The company is engaged in design, development, and mass production of GPS navigation and wearable technology for automotive, aviation, marine, outdoor, and fitness markets. The company has business segments including fitness, outdoor, aviation, marine, auto in which fitness is the market focused segment. The company has product categories which are wearables, sports & fitness, outdoor recreation, automotive, marine, aviation in which sports & fitness is market focused category.
For instance,
- In May 2022, Garmin Ltd. launched a new The Mandalorian and Grogu band designs for its kid smartwatches, especially Garmin vívofit jr. 3. These new band designs are for the children who are a fan of star wars. The company is expecting to increase its dominance in the kids' smartwatch market through these launches
The company has wide presence across North America, Europe, Asia-Pacific, Middle East and Africa, South America. The company has subsidiaries such as DeLorme (U.S.), Vesper Marine Ltd. (U.S.), Garmin Southern Africa (Pty) Ltd. (South Africa), GARMIN NORDIC DENMARK A / S (Denmark), Garmin Australasia Pty Ltd (Australia), among others
