As a result, the competition is set to intensify in the region, which already has incumbents like Huami (Amazfit) and Huawei, which are challenging the global vendors including Apple, Samsung and Fitbit. "These local smartphone vendors are set to grab a significant portion of the market share, owing to their aggressive pricing strategy in addition to offering similar product features like cellular connectivity, message notification, hear rate monitoring, ECG readings, and GPS tracking of workouts, among others," says Chaurasiya. Though a niche and emerging industry segment, there have been a few M-As in the space to foster product portfolio diversification like Google's acquisition of Fitbit and Fossil (only Smartwatch asset) in 2019 and Titans acquisition of HUG Innovations in early 2020. "The smartwatch segment is expected to be impacted by COVID-19 to some degree," says Chaurasiya.