A Smartwatch (or smart watch) is a computer built into a traditional watch that often contains additional sensors to measure activity. As smartwatch technology advances, their computational and sensor capabilities increase. It is one of the most popular connected wearable devices. Most smartwatches have a display, similar to that of a smartphone, with a touchscreen user interface. Many smartwatches are paired with a smartphone app that lets the user manage the smartwatch and monitor information such as activity and biometrics. Smartwatch functionality resembles smartphones, including smartwatch mobile apps, a mobile operating system and connectivity through networks such as WiFi and Bluetooth. Several additional features include the ability to pair smartwatch functionality with Android and iOS smartphones, place phone calls, play media such as music or videos, and location tracking. Popular smartwatch manufacturers include Apple with its flagship Apple Watch Series, Fitbit (including Fitbit Charge, Fitbit Versa, Fitbit Inspire, and others), Samsung (including Samsung Galaxy Watch and Samsung Galaxy Fit), and Garmin (including Garmin Forerunner and Garmin Venu).
Smartwatch shipments have continued to quickly increase and smartwatches are the most popular Smart wearable device today, and are expected to account for almost 45% of all Smart Wearables shipped by the end of 2022. Apple and the Apple Watch accelerated growth in the market for smartwatches by opening the market to new consumers and disrupting traditional innovators like Fitbit and Pebble. A recent catalyst for the growth of the Smartwatch Market Size is the Smartwatch Market Share leader’s (Apple) decision to include cellular connectivity on the latest Apple Watch. This helped bring some much-needed attention to the smartwatch category from telcos and more importantly, it has helped with consumer acceptance. Smartwatch Industry growth and smartwatch shipments are soaring, as consumers increasingly seek to accessorize their smartphones. Today, with Smartwatches providing many of the functionalities of smartphones, along with health and fitness data, smartwatches have become more than a trendy piece of Smart wearable. Millennials have largely been behind this technology's strong adoption, since smartwatches, fitness devices, and other similar devices cater to both their health conscious goals as well as the ‘always connected’ needs of this group.Access These Reports & More
Research firms usually track the unit shipment of smartwatches as part of the overall Smart Wearable quarterly market trackers. Therefore, estimates for the Smartwatch Market Share, Market size and Unit shipments are generally within the same ballpark across most publishers. There is an overall consensus that the Smartwatch industry will continue to see strong growth and lead the consumer IoT wearables market. For further research T4 recommends exploring and evaluating all available sources. T4 has aggregated and organized the data from these sources on the T4 Industry Research Platform. See each source’s view of the Smartwatch Market Size, Smartwatch Market Share, and Smartwatch Growth on the T4 Platform.
T4 comprehensively aggregated more than 20 reports from more than10 publishers covering statistics and trends in the Smartwatch Industry. This includes Smartwatch Market Size by both revenues and unit shipments, Smartwatch Market Share by vendor, regional smartwatch sales, Smartwatch trends by type of Smartwatch OS, Adoption trends for smart wearables across regions, regional Smartwatch price analysis, as well as more than 10 additional market statistics that demonstrate Smartwatch trends. The Smartwatch Industry falls under T4's Consumer IoT industry coverage. Industries related to the T4 taxonomy include IoT Wearables, IoT Health and Fitness Devices, IoT Hearables, and many others. You can find reports covering these industries on T4’s Platform.Schedule a Demo