Insightful Smartwatch Statistics For 2024

smartwatch statistics

Smartwatches can do basically everything that a smartphone can do at a glance. There is a rise in smartwatch users as the wearable industry keeps adding exciting features to the watches!

Today, more than 200 million people use smartwatches globally.

In this article, I have compiled the latest facts on the number of smartwatch users, units sold,  industry revenue, and more. 

Smartwatch Statistics Top Picks

Smart Watch Statistics: Top Picks

  • There are 219.43 million smartwatch users worldwide.
  • 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 $37.70 billion as of 2023. 
  • Apple owns 30% of the smartwatch market share worldwide. 
  • The penetration rate of smartwatch users is predicted to be 2.86% as of 2023. 
  • 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. 

219.43 million people use smartwatches worldwide as of 2023. 

According to the latest projection by Statista, This number will reach 230.85 million by 2028. 

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:

YearNumber 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
2023219.43 million
2022211.58 million
2021202.6 million
2020186.92 million
2019148.74 million

Source: Statista, GWI. 

How many Smartwatches will be sold in 2024?

With the adoption of wearable devices and consumers’ 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. 

Nearly 180 million smartwatches are predicted to be shipped in 2024. 

Comparatively, 184 million smartwatches are 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 are 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 groupPercentage of Female smartwatch usersPercentage of male smartwatch users
16 to 24 years19.6%21.0%
25 to 34 years27.2%26.9%
35 to 44 years24.5%25.5%
45 to 54 years18.6%20.9%
55 to 64 years12.7%16.1%

Source: Datareportal, Quora, isp.page

24% of the people in suburban areas use smartwatches. 

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. 

CountryShare of internet users using wristbands
Poland26.5%
China20.9%
United Kingdom15.0%
Germany14.5%
India13.8%
United States12.2%
France12.1%
Japan2.4%
Morocco2.1%

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 $37.70 billion in 2023.

The global smartwatch market is set to reach $89.97 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 depicts the increased rate of smartwatch adoption and technological advancements in the upcoming years.

Source: Benzinga

Who Has The Most Smartwatch Market Share

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 vendorSmartwatch market share owned as of 2022
Apple30%
Samsung10.1%
Huawei6.9%
Amazfit4.1%
Garnin4.1%
Noise5.8%
Fire-Boltt5.7%
boAt3.9%
Others29.4%

Source: Statista, Apple.

Also Read: Apple Statistics

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 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. 

YearRevenue generated by the smartwatch market over the years
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. 

  1. The user penetration of the smartwatch market is anticipated to be 2.86% in 2023. 

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. 

YearSmartwatch penetration rate recorded over the years
2028*2.88%
2027*2.89%
2026*2.9%
2025*2.9%
2024*2.89%
20232.86%
20222.78%
20212.69%
20202.5%
20192.01%

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 fitness92%
Achieve a fitness goal88%
Get regular exercise. 48%
Increase steps34%

42% of smartwatch users have discussed the data collected through their smartwatches with their healthcare providers. 

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

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