Gone are the days when a watch simply used to show you the time and date. Today’s smartwatches pack the power of a smartphone onto your wrist.
The global smartwatch market has exploded to a value of around $50.57 billion in 2024 due to the rapid adoption of the tech. A staggering 224.31 million people are now sporting these versatile wearables.
In this article, I have compiled the latest facts on the number of smartwatch users, units sold, industry revenue, and more.
Top Smartwatch Statistics of 2024
- There are 224.31 million smartwatch users worldwide as of 2024.
- Nearly 180 million smartwatches are predicted to be shipped in 2024.
- Smartwatch market revenue is anticipated to reach $47.94 billion in 2024.
- The global smartwatch market is valued at around $50.57 billion as of 2024.
- Apple owns 30% of the smartwatch market share worldwide.
- The penetration rate of smartwatch users is predicted to be 2.89% as of 2024.
- 23% of men and 21.8% of women worldwide own a smartwatch.
- 12.2% of Americans use a smartwatch or a fitness tracker.
- 3 in 10 working-age internet users own a “smart wrist” device like a smartwatch or a fitness tracker.
- 92% of people use smartwatches to maintain their health and fitness.
How Many Smartwatch Users Are There?
With growing awareness of the benefits of wearable devices, more people are adopting smartwatches as an essential companions for daily activities. Here are some key statistics about the number of smartwatch users.
224.31 Million People Use Smartwatches Worldwide As Of 2024
According to the latest projection by Statista, This number will reach 228.48 million by 2026.
According to the latest data from GWI, 3 in 10 working-age internet users own some form of ‘smart wrist’ device like a fitness tracker or a smartwatch.
Here are further details about the number of smartwatch users recorded worldwide over the years:
| Year | Number Of Smartwatch Worldwide Over The Years |
|---|---|
| 2028* | 230.85 million |
| 2027* | 229.64 million |
| 2026* | 228.48 million |
| 2025* | 226.89 million |
| 2024 | 224.31 million |
| 2023 | 219.43 million |
| 2022 | 211.58 million |
| 2021 | 202.6 million |
| 2020 | 186.92 million |
| 2019 | 148.74 million |
How Many Smartwatches Will Be Sold In 2024?
With the adoption of wearable devices and consumer’s preferences towards the technology, the number of smartwatches sold yearly increases rapidly.
This is primarily a result of integrating advanced health and fitness tracking features. With that, let us take a look at the number of smartwatches sold worldwide.
180 Million Smartwatches Are Predicted To Be Shipped In 2024
Comparatively, 184 million smartwatches were anticipated to be sold in 2023.
This is 16% up from the number of smartwatches sold in the previous year. 173 million smartwatches were shipped worldwide in the year 2022.
Most of the increase in the demand for smartwatches is expected to come from India. The demand for smartwatches in the country is expected to increase by 75%.
Further, advanced smartwatches from companies like Apple, Google, Garmin, and Samsung continue to dominate the worldwide smartwatch market despite a 7% decline in their sales in 2022.
The sales of these smart watches were predicted to stay flat at 107 million units in 2023.
Source: CCS Insights.
Smartwatch User Demographics
Smartwatches are used by people in various age groups and by people from different ethnicities. Here are some noteworthy facts and figures related to smartwatch users.
23% Of Men Worldwide Own A Smartwatch Compared To 21.8% Of Women
Men are more likely to own a smartwatch compared to women.
Men are early adopters of technology and gadgets compared to women. They are easily impressed by the technical specifications and are likely to purchase a product based on those parameters.
On the other hand, Women give more importance to the value it brings to their lives.
Further, most women believe that the smartwatches’ size and design don’t suit their wrists.
However, among internet users aged between 25 and 34, women are likelier to own a smartwatch than men.
According to ISP, the ratio of smartwatch users is 60% male to 40% female.
Here are further details about the smartwatch user demographics:
| Age Group | Percentage Of Female Smartwatch Users | Percentage Of Male Smartwatch Users |
|---|---|---|
| 16 to 24 years | 19.6% | 21.0% |
| 25 to 34 years | 27.2% | 26.9% |
| 35 to 44 years | 24.5% | 25.5% |
| 45 to 54 years | 18.6% | 20.9% |
| 55 to 64 years | 12.7% | 16.1% |
Source: Datareportal, Quora, isp.page.
24% Of The People In Suburban Areas Use Smartwatches.
Meanwhile, 20% of the residents of urban areas reported using smartwatches.
However, there isn’t much difference in the share of smartwatch users recorded in urban and rural areas. 18% of the people in rural areas use a smartwatch.
Source: Pew Research.
Smartwatch Users By Country
Smartwatch usage varies in different countries around the world. Let’s look at the percentage of users using Smartwatches in different countries worldwide.
12.2% of Americans Use A Smartwatch Or A Fitness Tracker
14.4% of the world’s population uses a smart wristband device.
Poland has the highest percentage of internet users who use a smartwatch or fitness tracker. 26.5% of the internet users in the country use a smart wristband.
On the other hand, the lowest share is of Morocco. Only 2.1% of internet users in the country prefer to wear smart wristbands.
The following table further details the percentage of internet users from different countries using smart wristbands.
| Country | Share Of Internet Users Using Wristbands |
|---|---|
| Poland | 26.5% |
| China | 20.9% |
| United Kingdom | 15.0% |
| Germany | 14.5% |
| India | 13.8% |
| United States | 12.2% |
| France | 12.1% |
| Japan | 2.4% |
| Morocco | 2.1% |
Source: Dataportal.
Smartwatch Market Size
Smartwatches surely have made a huge place in the market. The smartwatch market today is worth more than a billion dollars. Let us take a look at some other cool facts related to the smartwatch market size.
The Smartwatch Industry Is Valued At $50.57 Billion In 2024
The global smartwatch market is set to reach $143.19 billion by 2032. The market is predicted to grow at a CAGR of 15.6% between 2024 and 2032.
The increasing trend of health consciousness is one of the most significant drivers of the smartwatch market.
Further, the exponential increase in the market size will result in an increased rate of smartwatch adoption and technological advancements in the coming years.
Source: Benzinga.
Most Smartwatch Market Share Leaders
Apple has dominated the smartwatch market over the past few years. However, its share was reduced in 2023 compared to the previous year.
According to the vendors, here are some of the latest figures about the smartwatch market share.
30% of The Smartwatch Market Share Belongs To Apple
Apple owns the largest share of the smartwatch market.
A major reason for this huge share is the features of Apple watches. They keep you connected wherever you are, integrate with Siri for reminders, and have innovative safety features.
Samsung has the second-highest smartwatch market share, followed by Huawei and Noise.
Here are further details about the smartwatch market share:
| Smartwatch Vendor | Market Share |
|---|---|
| Apple | 30% |
| Samsung | 10.1% |
| Huawei | 6.9% |
| Amazfit | 4.1% |
| Garmin | 4.1% |
| Noise | 5.8% |
| Fire-Boltt | 5.7% |
| boAt | 3.9% |
| Others | 29.4% |
Source: Statista, Apple.
Revenue Generated Through Smartwatches
The Smartwatch industry has tremendously grown and generates revenue in billions. Various companies, like Apple, Samsung, Fitbit, etc., have worked to make their products better ever since.
In the following section, I have listed important statistics related to the Revenue generated by the smartwatch industry.
Revenue In The Smartwatch Market Is Anticipated To Reach $47.94 Billion In 2024
Between 2023 and 2028, the revenue generated through the smartwatch market is estimated to grow at a CAGR of 7.19%.
As a result, the revenue generated by the market will reach $62.46 billion by 2028.
The smartwatch’s total revenue increase between 2023 and 2028 is $18.3 billion, accounting for a total growth of 41.45% between the years.
This increase in revenue will result from an increase in the number of people using smartwatches over the upcoming years.
The following table displays the increase in revenue of the smartwatch market recorded over the years.
| Year | Revenue Generated By The Smartwatch Market |
|---|---|
| 2028* | $62.46 billion |
| 2027* | $62.46 billion |
| 2026* | $55.16 billion |
| 2025* | $ 51.58 billion |
| 2024* | $47.94 billion |
| 2023 | $ 44.15 billion |
| 2022 | $ 40.19 billion |
| 2021 | $ 38.03 billion |
| 2020 | $32.04 billion |
| 2019 | $ 23.74 billion |
Source: Statista.
Smartwatch Penetration Statistics
Here are the latest statistics about smartwatch user penetration rate.
The User Penetration Of The Smartwatch Market Is Anticipated To Be 2.89% In 2024
The global penetration rate of ‘smartwatches’ is forecasted to increase by a total of 0.02% between 2023 and 2028.
The smartwatch user penetration rate is estimated to be 2.88 percent in 2028.
Here are further details about the penetration rate of smartwatch users recorded over the years.
| Year | Smartwatch Penetration Rate Recorded Over The Years |
|---|---|
| 2028* | 2.88% |
| 2027* | 2.89% |
| 2026* | 2.9% |
| 2025* | 2.9% |
| 2024 | 2.89% |
| 2023 | 2.86% |
| 2022 | 2.78% |
| 2021 | 2.69% |
| 2020 | 2.5% |
| 2019 | 2.01% |
Source: Statista.
Why Do People Use Smartwatches?
Here you will get to know the reasons why people prefer to use smartwatches.
92% of People Use Smartwatches To Maintain Their Health And Fitness
88% of the people reported that smartwatches helped them achieve their fitness goals.
Besides, almost 1 in 2 smartwatch users used smartwatches to exercise regularly.
Here are further details on why people use smartwatches:
| Reason | The Percentage Used By The People |
|---|---|
| Track and maintain health and fitness | 92% |
| Achieve a fitness goal | 88% |
| Get regular exercise. | 48% |
| Increase steps | 34% |
42% of Smartwatch Users Have Discussed The Data Collected Through Their Smartwatches With Their Healthcare Providers
56% of GenZ and 46% of millennials track their heart rate and sleep. This helps them to keep track of their vitals.
Further, the Apple Watch has saved the lives of innumerable people by detecting anomalies in their heart rates.
Hence, most smartwatch users track their health vitals through smartwatches and share them with their healthcare providers.
Source: iMore, ValuePenguin.
