Smartwatch Market size is set to grow by USD 31,385.89 million from 2022 to 2027. Technological advances in the semiconductor industry to boost the market growth- Technavio

NEW YORK, June 28, 2023 /PRNewswire/ -- The smartwatch market size is estimated to grow by USD 31,385.89 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 14.83%. The growth momentum will be progressing during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%. The primary factor is the early adoption of advanced technology by the smartwatch manufacturers in the region which makes them a lucrative market for smartwatch manufacturing. Apple, Fitbit, and Garmin are key players present in the region. Furthermore, factors such as the emergence of integrated LTE smartwatches, rising disposable income, and the proliferation of health and fitness features are also driving the growth of the market. The development of wireless network infrastructure further supports this growth in the region and all the factors are expected to drive the market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
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Smartwatch Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (integrated and standalone), OS (android wear, apple watch OS, Fitbit OS, and Tizen OS), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The smartwatch market share growth by the integrated segment will be significant during the forecast period. This growth can be attributed to the increasing penetration of low-cost smartwatches in emerging markets and the entry of some traditional watchmakers. Furthermore, these smartwatches can be connected to other computing devices, such as smartphones to access the smartwatch's smart features. The customers can use the Internet, send, and receive messages, receive social media notifications, and weather forecasts, and listen to music by using Bluetooth and Wi-Fi. Hence, the integrated segment is expected to drive the growth of the market during the forecast period. 

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Smartwatch Market – Market Dynamics

Key drivers

• Technological advances in the semiconductor industry are a key factor driving the smartwatch market growth.
• The development of sleek, small, and efficient smartwatches is increasing due the technological advancement in various components such as SoC and MEMS.
• For instance, Samsung uses SiP-PHP technology to reduce chip thickness and incorporate various components.
•  The integration of features like voice recognition and haptics is being provided with the help of this technology.
• Furthermore, these smartwatches are becoming more attractive with their sleek design, compact size, and improved efficiency.
• Hence, these technological advancements are expected to drive the growth of the market during the forecast period.

Major Trends

• The increasing number of patent-related activities in the smartwatch space is an emerging trend influencing the smartwatch market.
• The patent right prevents any other person or company from making, using, or selling an invention, so they are given a license.
• Many vendors in the market are eager to obtain patents which are related to displays, cameras, sensors, and other related technologies.
• Furthermore, the patent right gives the vendor a competitive advantage over the other companies.
• For example, in June 2021, Samsung filed a patent for a smartwatch with a rollable display which was a moving unit that controls the display to change the size of the display region.
• Hence, these factors are expected to drive the market growth during the forecast period.

Significant Challenges

• Increasing data security and privacy concerns are major challenges restricting the smartwatch market growth.
• The hackers can intercept data without the owner's knowledge with the help of motion sensors which are embedded in the smartwatches.
• Data such as personal, health, and financial information are at high risk for data breaches.
• In addition, NFC chips embedded in smartwatches are also at risk of hacking customer information for contactless transactions.
• Furthermore, the popularity of smartwatches among athletes and the threat of hacking their personal workout and training routines is also a major concern.
• Therefore, these security concerns are expected to restrict the growth of the market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Smartwatch Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the smartwatch market between 2023 and 2027
• Precise estimation of the size of the smartwatch market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the smartwatch market across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of smartwatch market vendors.

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Table of Content

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by OS
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global smartwatch market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global smartwatch market 2017 - 2021 ($ million)

• 4.2 By Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – By Type Segment 2017 - 2021 ($ million)

• 4.3 By OS Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – By OS Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Integrated - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Integrated - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Integrated - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Integrated - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Integrated - Year-over-year growth 2022-2027 (%)

• 6.4 Standalone - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Standalone - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Standalone - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Standalone - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Standalone - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by OS

• 7.1 Market segments
• Exhibit 44: Chart on OS - Market share 2022-2027 (%)
• Exhibit 45: Data Table on OS - Market share 2022-2027 (%)

• 7.2 Comparison by OS
• Exhibit 46: Chart on Comparison by OS
• Exhibit 47: Data Table on Comparison by OS

• 7.3 Android wear - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Android wear - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Android wear - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Android wear - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Android wear - Year-over-year growth 2022-2027 (%)

• 7.4 Apple watch OS - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Apple watch OS - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Apple watch OS - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Apple watch OS - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Apple watch OS - Year-over-year growth 2022-2027 (%)

• 7.5 Fitbit OS - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Fitbit OS - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Fitbit OS - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Fitbit OS - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Fitbit OS - Year-over-year growth 2022-2027 (%)

• 7.6 Tizen OS - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Tizen OS - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Tizen OS - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Tizen OS - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Tizen OS - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by OS 
• Exhibit 64: Market opportunity by OS ($ million)
• Exhibit 65: Data Table on Market opportunity by OS ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Apple Inc.
• Exhibit 119: Apple Inc. - Overview
• Exhibit 120: Apple Inc. - Business segments
• Exhibit 121: Apple Inc. - Key news
• Exhibit 122: Apple Inc. - Key offerings
• Exhibit 123: Apple Inc. - Segment focus

• 12.4 ASUSTeK Computer Inc. 
• Exhibit 124: ASUSTeK Computer Inc. - Overview
• Exhibit 125: ASUSTeK Computer Inc. - Product / Service
• Exhibit 126: ASUSTeK Computer Inc. - Key news
• Exhibit 127: ASUSTeK Computer Inc. - Key offerings

• 12.5 BBK Electronics Corp Ltd
• Exhibit 128: BBK Electronics Corp Ltd - Overview
• Exhibit 129: BBK Electronics Corp Ltd - Product / Service
• Exhibit 130: BBK Electronics Corp Ltd - Key offerings

• 12.6 CASIO Computer Co. Ltd. 
• Exhibit 131: CASIO Computer Co. Ltd. - Overview
• Exhibit 132: CASIO Computer Co. Ltd. - Business segments
• Exhibit 133: CASIO Computer Co. Ltd. - Key offerings
• Exhibit 134: CASIO Computer Co. Ltd. - Segment focus

• 12.7 ENOX Production Services GmbH 
• Exhibit 135: ENOX Production Services GmbH - Overview
• Exhibit 136: ENOX Production Services GmbH - Product / Service
• Exhibit 137: ENOX Production Services GmbH - Key offerings

• 12.8 Fossil Group Inc.
• Exhibit 138: Fossil Group Inc. - Overview
• Exhibit 139: Fossil Group Inc. - Business segments
• Exhibit 140: Fossil Group Inc. - Key offerings
• Exhibit 141: Fossil Group Inc. - Segment focus

• 12.9 Garmin Ltd.
• Exhibit 142: Garmin Ltd. - Overview
• Exhibit 143: Garmin Ltd. - Business segments
• Exhibit 144: Garmin Ltd. - Key offerings
• Exhibit 145: Garmin Ltd. - Segment focus

• 12.10 HK SMARTMV Ltd.
• Exhibit 146: HK SMARTMV Ltd. - Overview
• Exhibit 147: HK SMARTMV Ltd. - Product / Service
• Exhibit 148: HK SMARTMV Ltd. - Key offerings

• 12.11 Huawei Technologies Co. Ltd. 
• Exhibit 149: Huawei Technologies Co. Ltd. - Overview
• Exhibit 150: Huawei Technologies Co. Ltd. - Business segments
• Exhibit 151: Huawei Technologies Co. Ltd. - Key news
• Exhibit 152: Huawei Technologies Co. Ltd. - Key offerings
• Exhibit 153: Huawei Technologies Co. Ltd. - Segment focus

• 12.12 Lenovo Group Ltd.
• Exhibit 154: Lenovo Group Ltd. - Overview
• Exhibit 155: Lenovo Group Ltd. - Business segments
• Exhibit 156: Lenovo Group Ltd. - Key offerings
• Exhibit 157: Lenovo Group Ltd. - Segment focus

• 12.13 Nexxbase Marketing Pvt. Ltd. 
• Exhibit 158: Nexxbase Marketing Pvt. Ltd. - Overview
• Exhibit 159: Nexxbase Marketing Pvt. Ltd. - Product / Service
• Exhibit 160: Nexxbase Marketing Pvt. Ltd. - Key offerings

• 12.14 Omate Inc.
• Exhibit 161: Omate Inc. - Overview
• Exhibit 162: Omate Inc. - Product / Service
• Exhibit 163: Omate Inc. - Key offerings

• 12.15 Polar Electro Oy
• Exhibit 164: Polar Electro Oy - Overview
• Exhibit 165: Polar Electro Oy - Product / Service
• Exhibit 166: Polar Electro Oy - Key offerings

• 12.16 Tata Sons Pvt. Ltd.
• Exhibit 167: Tata Sons Pvt. Ltd. - Overview
• Exhibit 168: Tata Sons Pvt. Ltd. - Business segments
• Exhibit 169: Tata Sons Pvt. Ltd. - Key offerings
• Exhibit 170: Tata Sons Pvt. Ltd. - Segment focus

• 12.17 ZTE Corp.
• Exhibit 171: ZTE Corp. - Overview
• Exhibit 172: ZTE Corp. - Business segments
• Exhibit 173: ZTE Corp. - Key news
• Exhibit 174: ZTE Corp. - Key offerings
• Exhibit 175: ZTE Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 176: Inclusions checklist
• Exhibit 177: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 178: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 179: Research methodology
• Exhibit 180: Validation techniques employed for market sizing
• Exhibit 181: Information sources

• 13.5 List of abbreviations
• Exhibit 182: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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