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Smartwatch Market Share

Report ID: GMI6819
Published Date: Sep 2024
Report Format: PDF

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Smartwatch Market Share

Smartwatch industry seems to be consolidated in nature due to presence of local and global players across the globe. In 2023, the market players such Apple, ASUS, Fitbit, Fossil, Garmin, Google, Huawei, Michael Kors collectively held around 10%-20% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.

Smartwatch Market Companies

Major players operating in the smartwatch industry are:

Apple
ASUS
Fitbit
Fossil
Garmin
Google
Huawei
Michael Kors
Motorola
Polar
Samsung
Sony
TomTom
Virtual-Realties
Xiaomi

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market size for smartwatch, valued at USD 36.1 billion in 2023, is expected to grow at a CAGR of 9.8% during the forecast period, with continuous innovations in health and fitness tracking driving the growth.

In 2023, OLED displays dominated the industry with a value of USD 33.3 billion, and they are expected to reach USD 84.2 billion by 2032, owing to their better contrast, vivid colors, and energy efficiency, which drive consumer demand for these visually appealing smartwatches.

The North American market, valued at USD 14.6 billion in 2023, is projected to reach USD 31.6 billion by 2032, driven by increasing consumer interest in health-focused features like ECG monitoring and blood oxygen tracking.

Leading companies in the market include Apple, ASUS, Fitbit, Fossil, Garmin, Google, Huawei, Michael Kors, Motorola, Polar, Samsung, Sony, TomTom, Virtual-Realties, and Xiaomi.