Smartwatch Market Size, Key Competitors, Business Opportunities, Trend Analysis 2031

Smartwatch Market Size, Key Competitors, Business Opportunities, Trend Analysis 2031

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April 7, 2023 (Alliance News via COMTEX) - The global smartwatch market is estimated to be approximately USD 30.43 billion in 2021 , growing at a CAGR of over 8.2% during the forecast period 2022-2029.

A smart watch is a versatile wearable computer that provides a touchscreen interface for personal daily use and provides users with unique location and health information. Increasing consumer health awareness, growing inclination towards fitness and health tracking features, and increasing purchasing power of the population are the major factors driving demand in the market.

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Increasing demand for wearable devices among the population will be a catalyst for the growth of the market. According to Statista, there were 593 million connected mobile devices worldwide in 2018, and that number is expected to reach 1.105 million by the end of 2022. As a result, smartwatches allow users to track their health. rises. Thus, gravity, in turn, stimulates market growth. Additionally, increasing technological advancements in smartwatches along with increased availability of products on various e-commerce platforms could open up several opportunities in the coming years. However, the increasing complexity of wearable devices and the presence of substitute products restrain the market growth during the forecast period 2022-2029.

Leading regions covered in the global smartwatch market research include Asia-Pacific, North America, Europe, Latin America, and Rest of the World. North America dominates the market in terms of revenue due to the introduction of high technology and the presence of established players in the market. Meanwhile, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Factors such as the growing trend of smart wearables and rising disposable income are fueling the market growth over the forecast years.

Key Market Players Covered in This Report:

Apple company.

Samsung Electronics Co., Ltd.

Garmin Ltd.

fitbit connected

fossil group incl.

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Huawei Technologies Co., Ltd.

sony company

lenovo limited group

Zepp Health Corporation

LG Electronics Inc.

Latest market developments.

In June 2022, Apple Inc. will release a new watchOS 9 with the latest features and recommendations for its wearable operating system. The new product offers more information and customization options. With the updated Workout app, advanced metrics, visualizations and workouts inspired by top athletes help users take their workouts to the next level.

In January 2022, Fossil and Razer partnered to release a limited edition smartwatch, the Razer X Fossil Gen 6 smartwatch. This collaborative wearable uses Fossil's innovative smartwatch platform and features a triple watch face exclusive to Razer. Text, analog and chroma plus two stylish interchangeable bands.

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The objective of the study is to determine the market size of various segments and countries in recent years and predict the values ​​in the coming years. The report was designed to bring together qualitative and quantitative aspects of the industry in the countries participating in the survey.

The report also provides information on important aspects such as drivers and challenges that will determine the future growth of the market. In addition, it also includes a detailed analysis of the competitive landscape and products offered by key players, as well as potential micro-market opportunities in which stakeholders can invest. Detailed market segments and sub-segments are explained below;

According to the operating system.

see operating system

Start the operating system

Other operating systems

View Type:




For the end user:

personal assistant


Types of sports

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By region:

North America










Asia Pacific





South Korea


Latin America



the rest of the world


  • Summary of the report
  • Global growth trends
  • Competitive environment for top players
  • data segments
  • North American market analysis
  • European market analysis
  • Asia Pacific Market Analysis
  • Analysis of the Latin American market
  • Market analysis in the Middle East and Africa
  • Market Profile Analysis of Key Players
  • Analyst opinions / results
  • Additional

An overview of the various factual statements covered by the study.

  • The study consists of an area that analyzes the current and future R&D key players' strategic characteristics, new product introductions, collaborations, regional expansions, and mergers and acquisitions.
  • The study focuses on key market characteristics such as revenue, product value, capacity and utilization rate, import/export volumes, supply/demand data, market share and CAGR.
  • The study is a series of analyzed documents and several internal logs obtained through analytical equipment and an internal investigation process.
  • The market can be divided into 4 areas by region: North American Markets, European Markets, Asian Markets and Rest of the World.

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Presentation of Apple Watch 2018 2 0


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