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Smartwatch Market - By Product Type, By Operating System, By Display Type, By Price Range, By Application, By End-use, By Distribution Channel, Forecast 2025 - 2034
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Smartwatch Market
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Premium Report Details
Base Year: 2024
Companies covered: 15
Tables & Figures: 428
Countries covered: 22
Pages: 487
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Smartwatch Market Size
The global smartwatch market size was estimated at 39.1 billion in 2024. The market is expected to grow from 42.5 billion in 2025 to 92 billion in 2034, at a CAGR of 9%.

Smartwatches are gaining popularity mainly because of the convenience and connectivity offered through smartphone integration such as receiving notifications about health, sleep patterns, etc. People want to stay connected and being able to access messages, calls, and information directly from their wrist as it saves time from having to reach for a smartphone. This not only improves productivity, but also resolves safety issues during, workouts, or any other ocassion where using a phone can be unsafe.
Generally, this form of connectivity is done through Bluetooth or cellular connections which sync the smartwatch to the paired smartphone. A good number of smartwatches also have Wi-Fi functionality, allowing access to the internet. Additionally, there is growing interest in wearable devices that combine health, fitness, and connectivity functions. Moreover, global smartwatch shipments registered a 24% growth YoY in Q2 2023, which is led by Apple’s 27% market share followed by Samsung and Huawei.
The growth of the smartwatch market is also driven by the demand for health and fitness rules. With consumers increasingly taking an interest in their health, smartwatches can now manage a user’s entire health portfolio with tools such as heart rate monitoring, sleep tracking, step counting, and workout supervision. These devices make use of advanced sensors that capture heart rate and physical activities along with a photoplethysmography sensor (PPG) and an accelerometer. The information is then processed through the smartwatch’s internal processor or through a connected smartphone to provide real-time insights into a user’s activities, sleep, and health metrics, therefore fostering a proactive approach towards health management.
For example, ECG monitoring, blood oxygen level tracking, and body composition analysis are the new health services offered by the Apple Watch Series 8 and the Samsung Galaxy Watch 5. As stated in a report from World Health Organization (WHO), non-communicable diseases (NCDS) like cardiovascular diseases and diabetes are responsible for 71% of deaths globally which is why there is great demand for wearable devices capable of health monitoring and management.
Moreover, the actigraphy and algorithms incorporated into smartwatches allow for sleep tracking, sifting through every stage of sleeping and even measuring levels of sleep quality. On top of it, majority of modern smartwatches come equipped with GPS which allows users to monitor their distance travel, pace, and routes taken while exercising outdoors.
Tech companies and healthcare services providers have taken notice of the potential of smart watches. They now seek to build an ecosystem that integrates the two. Apple, for example, has partnered with some healthcare providers to use the Apple Watch as a remote patient monitoring tool. Doctors can check vital signs of their patients in real time.
Smartwatch technology is beneficial for public health promotion which a lot of governments around the world have already achieved. The Singaporean government, for example, has instituted measures to encourage its citizens to wear devices for health tracking and participation in a national fitness drive. Likewise, the Centers for Disease Control and Prevention (CDC) in the US actively advocates the use of a wearable technology to track physical activity in order to deal with a rising obesity problem that affects approximately 42.4% of adults in America, as stated by CDC.
Smartwatch Market Trends
Furthermore, these gadgets utilize cutting edge technologies such as photoplethysmography PPG and electrocardiogram ECGs to give users accurate health information in real time.
smartwatch Market Analysis
Smartwatch Market Share
The global smartwatch industry is fragmented, with prominent players, such as Apple, ASUS, Fitbit, Fossil, Garmin, Google, Huawei, Michael Kors, holding a market share of 10%-15%.
Smartwatch Market Companies
Apple, a major player in the market, reported USD 391 billion USD in revenue in 2024. In September of 2023, Apple launched the Apple Watch Series 9 with the Apple Watch Ultra 2. These came with the new S9 chip which had an innovative double tap gesture control feature. Series 9 also had an incredibly bright display (up to 2000 kits) and more precise Siri commands due to the on-device processing. The introduction of carbon-neutral versions of the Series 9 smartwatches serves as a new benchmark for Apple’s products as these watches are the company’s first carbon-neutral recorded versions.
Major players operating in the smartwatch industry are:
Smartwatch Industry News
This smartwatch market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Billion) and volume (Million units) from 2021 to 2034, for the following segments:
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Market, By Product Type
Market, By Operating System
Market, By Display Type
Market, By Price Range
Market, By Application
Market, By End-use
Market, By Distribution Channel
The above information is provided for the following regions and countries: