By Thomas Macaulay

Dutch startup Nuwa claims to have invented the “world’s most advanced pen” that digitises notes written by hand. Nuwa plans to launch the device this March. The Groningen-based company today announced a fresh cash injection of €1.5mn to boost the development of the product, which uses an inbuilt camera system, motion sensors, and algorithms to capture text written on paper. “Just write, and Nuwa Pen digitises,” Marc Tuinier, Nuwa’s CEO, told TNW. All the notes are then stored on the startup’s app. They can then be organised, shared, and integrated with other apps. A particularly intriguing feature is Augmented Notes, which…

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By Aaron Mamiit

MasterClass memberships are 40% off in the streaming platform’s New Year Offer. Learn from trusted instructors in online classes, any time and on any device.

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By Barry Elad

Introduction

Smartwatches Statistics: As of reports, the market size of the global smartwatches industry is expected to reach $77.22 billion by the end of 2030 and $25.61 billion by and the market is going to grow at a CAGR of 14.84% from 2023 to 2030. The markets of smartwatches are growing due to the increasing penetration of the internet and the higher sales rate of smartphones are influencing positively.

The market is segmented by distribution channel, application, operating system, shipment units, region, countries, etc. These Smartwatches Statistics include insights from various aspects that provide light on why Smartwatches are becoming so popular among every individual around the world.

Editor’s Choice

• As of reports, the global revenue earned by the smartwatch segment over other smart wearables is expected to generate around $44.91 billion from 2023 to 2027.
• According to the report of Mordor Intelligence, the smartwatch market shipment volume in 2023 is supposed to be 134.12 million units and 456.89 million by the end of 2028 with a CAGR of 27.78% from 2023 to 2028.
• According to the study of Demand Sage, around the world, there are more than 219.43 million smartwatch users of which men and women users are 23% and 21.8% respectively in 2023.
• Around 184 million smartwatches are expected to be sold out by the end of 2023.
• By the end of 2023, the market valuation of smartwatches around the world is expected to be  $37.70 billion.
• As of 2024, the total market revenue of the smartwatch is predicted to reach $47.94 billion and expected shipments are supposed to be around 180 million.
• Smartwatches are used by 12.2% of Americans in 2023 and 3 out of 10 internet users are currently using.
• Almost 92% of worldwide users use smartwatches to check their health and fitness.
• As of the report in 2023, Apple is the dominating brand of smartwatches among others with the largest market share of 30%.
• According to Fortune Business Insights reports, based on the operating system the IOS holds the highest market share of the global Smartwatch market is 53.44% followed by Android.
• According to Statista report analysis, in 2023 highest revenue generated by China’s smartwatches market is expected to reach $16,920 million.
• The market size of North American Smart Watch is expected to reach around $39.75 billion in  2023 and $85.71 billion by the end of 2028.

(Source: mordorintelligence.com)

What is Smartwatch?

A smartwatch is an electronic wristwatch that is embedded with advanced technologies such as different types of biosensors, IoT, Bluetooth, and GPS. They allow you to answer calls, read text messages, emails, weather updates, etc. Other unique features of smartwatches are monitoring heart rate, sleep pattern, blood pressure, step counting, spatial detection, and fitness tracking. These smartwatches are available for different purposes including hiking, climbing, diving, aviation, and visual assistance.

As of 2023, top productions of smartwatches are Apple Watch SE, Apple Watch Series 7, Fitbit Sense, Fitbit Versa 3, Garmin D2 Delta PX, Garmin Descent Mk2 Series, Garmin Vivoactive 4, Mobvoi TicWatch Pro 3, Motorola Moto 360, Samsung Galaxy Watch4, and Suunto 9 Baro.

General Statistics

• According to report from Statista, revenue earned by the smartwatches market is projected to reach around $44.15 billion by the end of 2023.
• As Statista reports, the market volume of smartwatches is expected to reach around $62.46 billion by the end of 2028 with a market share of 7.19% from 2023 to 2028.
• In the year 2023, the market penetration of smartwatches is 2.86% and expected to be 2.88% by the end of 2028.
• The average revenue earned per user of smartwatch industries is expected to be $201.20.
• As of 2023, revenue generated by China’s smartwatches market is expected to reach $16,920 million.
• As of reports in September 2023, Apple has launched a new smartwatches series 9 along with best-selling features which has achieved a significant environmental milestone.
• By the end of 2032, the market size of smartwatches around the world is expected to be $164.7 million from 2022 to 2032.
• According to the reports of Counterpoint research, by the end of September 2023, the global market share of smartwatches has grown by 11.1% with almost 35 million shipments from last year.

Smartwatch Market Statistics

(Source: gminsights.com)

• As of Global Market Insights report analysis, the market valuation of Smartwatch has accounted for $33.5 billion in 2022 and $90.4 billion by the end of 2032.
• On the other side, the market growth is expected to reach a CAGR of 10.5% from 2023 to 2032.
• In 2022, the Market share of the North American region was more than 41%.
• Whereas, the highest segment valuations are the OLED segment (91%), and the Running segment (41%).

Smartwatches Statistics by Brand Shipment

(Reference: counterpointresearch.com )

• As of the above graph analysis, in the 1st quarter of 2023, the global smartwatch brand shipment market size by top brands is Apple (26%) and others are followed by Samsung (9%), Fire Boltt  (9%), and others (56%).
• In the 2nd quarter of 2023, the global smartwatch brand shipment market sizes by brands are followed by Apple (22%), Huawei (10%), Noise (10%), and others (58%).
• In the 3rd quarter of 2023, the global smartwatch brand shipment market sizes by brands are followed by Apple (22%), Fire Boltt (10%), Huawei (9%), and others (59%).

Smartwatches Statistics by Operating System

• According to Fortune Business Insights reports, based on the operating system the IOS is holding the highest market share of the global Smartwatch market is 53.44% in 2022 followed by Android.
• Whereas, in the United States the IOS operating system has secured the highest market share of  63.98%.

Smartwatches Statistics by Market Leaders

(Source: mordorintelligence.com)

• According to Juniper Research analysis, it is predicted that by the end of 2023, the 4 biggest market leaders of Smartwatches such as Apple, Fossil, Fitbit, and Samsung are going to hold a  market share of 47%.
• According to Business of Apps reports, the total revenue generated by Apple Inc. in 2023 is supposed to be $383.2 billion.
• According to the reports of Apple World Today, in the 2nd quarter of 2023, Apple sold 8.1 million smartwatches which accounted for a market share of 18%.

(Reference: mordorintelligence.com)

• As of 2023 reports, the market of Apple Smartwatch is expected to be 32% of the share.
• In 2023, Samsung OS Smartwatch brands are termed as the world’s best-selling wearable with a  market share above 10% around the world.
• As of the above graph analysis, in 2023 market share of top manufacturers of Smartwatches is followed by Huawei (7%), Garmin (4%), Fitbit (1%), and others (46%).

Statistics by Demographics

• According to the reports of Demand Sage, around the world, there are more than 219.43 million smartwatch users in 2023.
• In coming years, total number of expected smartwatch users around the world are followed by  2024 (224.31 million), 2025 (226.89 million), 2026 (226.89 million), 2027 (229.64 million), 2028  (230.85 million).
• As of 2023, the percentage of male and female users statistics by age group are followed by 16 to 24 years (21% and 19.6%), 25 to 34 years (26.9% and 27.2%), 35 to 44 years (25.5% and 24.5%), 45 to 54 years (20.9% and 18.6%), and 55 to 64 years (16.1% and 12.7%) respectively.
• According to Pew Research, in 2023 around 24% of smartwatch users belong to suburban areas,  urban areas (20%), and rural areas (18%).
• Smartwatch users share statistics by countries followed by Poland (26.5%), China (20.9%),
  United Kingdom (15%), Germany (14.5%), India (13.8%), United States (12.2%), France (12.1%),  Japan (2.4%), and Morocco (2.1%).

Smartwatches Revenue Statistics by Countries

• According to Statista report analysis, in 2023 highest revenue generated by China’s smartwatches market is expected to reach $16,920 million.
• Furthermore, other countries smartwatches market size in 2023 are followed by India ($102.10  million), South Korea ($0.95 billion), France ($0.90 billion), Australia ($369.70 million), Belgium  ($199.60 million), Brazil ($203.50 million), Canada ($0.46 billion), China ($16.92 billion),  Colombia ($129.30 million), Denmark ($168.60 million), Egypt ($143.40 million), Germany  ($0.83 billion), Hong Kong ($77.92 million), Indonesia ($10.20 million), Germany ($0.83 billion),  Greece ($34.05 million), Italy ($0.70 billion), Japan ($0.92 billion), Kuwait ($29.78 million),  Latvia ($17.09 million), Lithuania ($43.93 million), Mexico ($139.30 million), Myanmar ($26.44  million), Nepal ($18.34 million), Netherlands ($294.80 million), New Zealand ($174.60 million),  Norway ($163.50 million), Philippines ($75.71 million), Russia ($453.80 million), South Africa  ($109.70 million), Switzerland ($336.40 million), Taiwan ($50.45 million), Thailand ($90.78  million), Turkey ($305.50 million), United Arab Emirates ($140.30 million), United Kingdom  ($0.83 billion), and the United States ($12.87 billion).

Smartwatches Statistics by Region

(Source: mordorintelligence.com)

• As of the above graph analysis, the market size of North American Smart Watch is expected to reach around $39.75 billion in 2023 and $85.71 billion by the end of 2028 with a CAGR of 16.61%.
• The market size of the European Smart Watch in 2023 is supposed to reach around $5.51 billion and $9.27 billion by the end of 2028 with a CAGR of 9.79% from 2023 to 2028.

(Source: mordorintelligence.com)

• As of the above graph analysis, the market size of Asia Pacific Smart Watch is expected to reach around $43.13 billion and $105.93 billion by the end of 2028 with a CAGR of 19.69% from 2023  to 2028.
• The market share of Smartwatch in Latin America and the Middle East region is expected to grow at a CAGR of 13.40% and 5.2% from 2023 to 2028 respectively.
• According to Allied Market Research analysis, In the European region highest market share was accounted for by the United Kingdom, and the fastest-growing country in the market of Smartwatch is Italy with a CAGR of 15.47%.

Smartwatches Statistics by Apps

(Reference: mordorintelligence.com)

• Leading fitness and sports apps used in smartwatches are My Fitness Pal, Fitbit, Strava, WW,  Workouts by Muscles Booster, Peloton, Fitness Coach, and amp; Diet, Noom, and Keep.
• As of the above graph analysis, the market share of apps in 2022 is followed by My Fitness Pal  ($8.98 million), Fltbit ($8.14 million), Strava ($5.66 million), WW ($5.56 million), Workouts by muscles booster ($3.69 million), Peloton ($3.5 million), Fitness Coach and amp; Diet ($2.74  million), Noom ($2.32 million), and Keep ($2.18 million).

Smartwatches Statistics by Website Traffic

By Country

(Source: similarweb.com)

• As of November 2023, the United States of America had 5.5% of total traffic on smartwatch.com.co, but it recorded a decrease in total website visitors by 4.04%.
• Other countries recorded the following contribution in total traffic: Chile = 4.53% (+7.03%), Russia = 4.52% (-6.96%), the United States = 4.31% (-2.8%), South Africa = 4.25%, and other countries collectively made around 76.89%.

By Age Distribution

(Reference: similarweb.com)

• As of November 2023, the smartwatch statistics by the demographic state that, the highest
  number of gamers observed is between the age group of 25 years to 34 years resulting in
  35.03%.
• There are 26.74% of smartwatch users aged between 25 years to 34 years.
• 12.86% and 11.72% belong respectively to 18 years to 24 years and 35 years to 44 years.
• 8.71% of users are aged between 55 years to 64 years.
• And there are 4.93% of Smartwatch users contributing from the age group of 65 years+.
• As of 2023, total male and female users of Smartwatches are 68.24% and 31.76% respectively.

Smartwatches Statistics by Reason

• As to reports, the main reason for using smartwatches is to help in tracking and maintaining health and fitness (92%).
• Furthermore, other reasons are followed by allowing users to achieve fitness goals (88%),
  helping users in doing regular exercises (48%), and increasing steps (34%).
• GenZ (56%) and Millennials (46%) use smartwatches for tracking sleep and heart rate.

Why Smartphones are used?

(Reference: statcdn.com)

Conclusion

As of today, after completing the article on smartwatch statistics it can be stated that this portable device is unobtrusive and easy to carry. They are included with a variety of healthcare applications, which is possible only due to the availability of advanced technology those are supplied with biosensors. Several effective statistics are described elaborately above and hope all the above information will help you understand the detailed market analysis of smartwatches.

If still you are not using one then, surely after going through this article you will be purchasing a smartwatch for yourself.

Source:: Coolest Gadgets

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