Smartwatch Market by Type, Operating System, and Geography - Forecast and Analysis 2020-2024

  • Published: Nov 2020
  • Pages: 120
  • SKU: IRTNTR43748

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The smartwatch market size will grow up to USD 14.57 billion at a CAGR of 10.73% during 2020-2024.

This smartwatch market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by type (integrated and standalone), operating system (watchOS, Tizen, Wear OS, and others), and geography (North America, APAC, Europe, South America, and MEA). The smartwatch market report also offers information on several market vendors, including Apple Inc., Fitbit Inc., Fossil Group Inc., Garmin Ltd., Huami Corp., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Mobvoi Information Technology Co. Ltd., and Samsung Electronics Co. Ltd. among others.

What will the Smartwatch Market Size be in 2020?


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Smartwatch Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The technological advances in semiconductor industry is notably driving the smartwatch market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the smartwatch market get your FREE report sample now.

This smartwatch market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Smartwatch Market Vendors?

The smartwatch market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The leading companies included in the report are as follows:


  • Apple Inc.
  • Fitbit Inc.
  • Fossil Group Inc.
  • Garmin Ltd.
  • Huami Corp.
  • Huawei Investment & Holding Co. Ltd.
  • Lenovo Group Ltd.
  • LG Electronics Inc.
  • Mobvoi Information Technology Co. Ltd.
  • Samsung Electronics Co. Ltd.


From our Porter’s five forces analysis study, get detailed insights on the functional involvement of the buyers and suppliers to form well-rounded knowledge about the supply chain and create cost reduction plans. The smartwatch market analysis report also contains exhaustive observation on the organic and inorganic growth strategies deployed by the vendors. Click here to uncover details of successful business strategies adopted by the vendors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

For insights on complete key vendor profiles, download a free sample of the smartwatch market forecast report. The profiles include information on the production, sustainability, and prospects of the leading companies. The report's vendor landscape section also provides industry risk assessment in terms of labor cost, raw material price fluctuation, and other parameters, which is crucial for effective business planning.

Which are the Key Regions for Smartwatch Market?


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The smartwatch market size, share, & trends analysis report offers an up-to-date study of the geographical composition of the market. 54% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for smartwatches in North America.

The report offers an up-to-date analysis of the geographical composition of the market. North America has been recording significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Type Segments in the Smartwatch Market?


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The smartwatch market report provides comprehensive understanding of the subsets of our target market to earmark niche customer groups and simplify demographic requirements. In addition, the report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2020-2024 and embrace technologies to improve business efficiency. The smartwatch market share growth by the integrated segment has been significant and is expected to provide significant growth opportunities to market vendors.

Request for a free sample of the report to get an exclusive glimpse of actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the smartwatch market size.



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What are the Key Factors Covered in this Smartwatch Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive smartwatch market growth during the next five years
  • Precise estimation of the smartwatch market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smartwatch market across North America, APAC, Europe, South America, and MEA 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smartwatch market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The smartwatch market growth will increase by $14577.66 million during 2019-2024.
The smartwatch market is expected to grow at a CAGR of 10.73% during 2019-2024.
Technavio has segmented the smartwatch market by type (Integrated and Standalone) and geographic (North America, APAC, Europe, South America, and MEA).
Apple Inc., Fitbit Inc., Fossil Group Inc., Garmin Ltd., Huami Corp., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Mobvoi Information Technology Co. Ltd., Samsung Electronics Co. Ltd. are a few of the key vendors in the smartwatch market.
North America will register the highest growth rate of 54.40% among the other regions. Therefore, the smartwatch market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • South Korea (Republic of Korea)
  • Canada
  • Japan
The key factors driving the smartwatch market growth are:
  • Technological advances in semiconductor industry
  • Increasing number of patent filings by smartwatch manufacturers
The smartwatch market vendors should focus on grabbing business opportunities from the integrated segment as it accounted for the largest market share in the base year.

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