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Smartwatch Market Share

Report ID: GMI6819
Published Date: Sep 2023
Report Format: PDF

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Smartwatch Market Share

The major players operating in the smartwatch market are:

Apple Inc
Fossil Group Inc,
Garmin Lt
Google LLC
Huawei Technologies Co., Ltd.,
Samsung Electronics Co., Ltd.,
Xiaomi.

Apple dominates the market with a market share of over 20%, among other competitors including Samsung, Garmin, and Xiaomi. Apple invests heavily in marketing and branding to create a strong brand identity for Apple smartwatches. High-profile advertising campaigns, product launches, and endorsements help the company in maintaining consumer interest and drive sales.

Authors: Avinash Singh

Frequently Asked Questions (FAQ) :

Smartwatch industry was worth USD 33.5 billion in revenue in 2022 and is estimated to expand at over 10.5% CAGR from 2023 to 2032 driven by increasing demand owing to its ability to provide real-time notifications and connectivity to smartphones.

OLED segment held more than 91% revenue share in 2022 and is likely to witness high demand through 2032 attributed to its slim and attractive designs.

North America held more than 41% share of the global smartwatch industry in 2022 and is projected to expand at notable pace through 2032 owing to the proliferation of wearable technology across the region.

Huawei Technologies Co., Ltd., Apple Inc., Xiaomi, Garmin Ltd., Fossil Group Inc., Google LLC, and Samsung Electronics Co., Ltd. are among the top companies operating in the market.