Most people in today’s era wear a smartwatch. They have become the new necessity of time. It helps the users to track their heart rate, sleep, oxygen, activity, exercise, calories burnt, etc.
There were 216.43 million smartwatch users in 2022, and the approximate revenue generated was $43.39 billion. The smartwatch industry has been growing the fastest since the last decade due to the rising inclination of consumers towards wearables.
In the following article, I have mentioned the details related to smartwatch users’, its market and revenue, and what the industry will be like in 2023 and beyond. Let us take you right there without further due.
Smartwatch Statistics(Top Picks)
- It is predicted that there will be 224.27 million smartwatch users by the end of the year 2023.
- Apple smartwatches are preferred by 54% of smartwatch users worldwide.
- 42% of smartwatch users have discussed the data obtained from their smartwatches with their doctors.
- 18% of men wear smartwatches, while 25% of women wear smartwatches.
- 15% of smartwatch users lie in the age group of 18 to 49.
- 20% of smartwatch users reside in urban areas, while 24% reside in suburban areas.
- 92% of smartwatch users reported that they use smartwatches to maintain their health and manage it.
- Apple owns 32% of the share of the smartwatch industry.
- $43.4 billion is the global revenue generated by the smartwatch industry in the year 2022.
- The expected growth rate of the smartwatch market is 14.9% CAGR between the years 2021 and 2028.
General Smartwatch Statistics
Apple has always been the first choice of all smartwatch users. The sale of smartwatches, however, has considerably decreased due to the expected recession. Let us take a look at other interesting stats related to smartwatch users.
- Smartwatch users reported that they work out more as compared to those who don’t have smartwatches.
- 70% of Americans are ready to wear smartwatches if they get a discount on their health insurance.
- By the end of the year 2022, it is expected that the number of smartwatch users will be 216.43 million.
The following table provides an overview of the number of smartwatch users over the years.
|Year||Number of Smartwatch Users|
- The smartwatch penetration rate is 2.69% globally as of 2023.
- The smartwatch penetration rate is expected to be 2.93% by 2026.
- 54% of people worldwide prefer smartwatches from Apple.
- Only 21% of the US reported that they use smartwatches or any wearable fitness tracker.
- 45% of Americans regularly wear smartwatches. Like apple or Fitbits.
- 20% of Americans prefer Apple, while 16% prefer Fitbit.
- 42% of smartwatch users have discussed the biometric data collected through their smartwatches.
- 56% of Genz and 46% of millennials track their heart rate and sleep.
- 53.32% of smartwatch users worldwide use the Apple operating system.
Smartwatch Users Demographics
Smartwatches are used by people in various age groups and by people from different ethnicity. Here are some noteworthy facts and figures related to smartwatch users.
- Only 18% of men wear smartwatches or any wearable fitness tracker.
- 25% of women reported that they wear smartwatches.
- Only 20% of white people wear smartwatches, while 23% of black people were found wearing smartwatches or any wearable fitness trackers.
- 26% of the Hispanics reported that they wear smartwatches or other wearables.
- 15% of the people who use wearables lie in the age group of 18 to 49.
- 17% of the people who were smartwatches are reported to be 50+.
- 20% of the people that reside in Urban areas wear smartwatches and fitness trackers.
- 24% of smartwatch users stay in suburban areas.
- 18% of smartwatch users are from rural areas.
- 70% of the Geezers prefer smartwatches and wear them every day.
|Users||Percentage Of Them Who Wear Smartwatches|
- 57% of the millennials like smartwatches.
- 51% of the women reported using smartwatches.
- 92% of people use smartwatches to maintain their health and fitness.
- 88% of the people reported that smartwatches had helped them to achieve their fitness goals.
- 48% of smartwatch users said that they use smartwatches to get regular exercise.
Here is a table showing why people use smartwatch:
|Reason||The Percentage Used By The People.|
|Health and Fitness||92%|
|Achieve a fitness goal||88%|
|Get regular exercise.||48%|
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.
- Smartwatches are believed to generate $53.6 billion by the end of the year 2025.
- At the beginning of 2022, 9 billion euros in revenue contributed to Apple in the wearable segment.
- The worldwide revenue of the smartwatch market is reported to be $43.4 billion.
- In the year 2021, the smartwatch market generated a sum of $ 38.05 billion.
- The smartwatch market is expected to generate $59 billion by the year 2026.
- The revenue change in the smartwatch market worldwide was approximately 18.8%, In the year 2021.
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 place.
- 32% of the share of the smartwatch marketplace belongs to Apple.
- 173 million smartwatches were shipped worldwide in the year 2022.
- North America is reported to be the leading region for the smartwatch market. It is valued at 7.13 billion US dollars.
- 36% of the smartwatch unit shipments are Apple smartwatches.
- In the year 2021, 54.4 million of Xiaomi’s wearable units were shipped worldwide.
- Apple is the leading smartwatch vendor. It owns 32% of the smartwatch share in the market.
- The following table displays the share of various vendors in the smartwatch market in 2023:
- In the year 2016, 37 million smartwatch units were shipped.
- In the year 2021, wearables occupied a 30.5% share of the market.
- The shipment of smartwatches and fitness trackers is expected to increase at a compounded annual growth of reportedly 11% between the years 2021 and 2024.
- 280 million units of smartwatches and fitness bands are expected to be shipped in the year 2024.
- The growth in the smartwatch demand was observed to be 13% YoY.
- The growth of the smartwatch market is predicted to be 14.9% CAGR between 2021 to 2028.
- According to a survey conducted by ValuePenguin, smartwatch users exercise an average of 4.3 days per week, which non users exercise 3 days a week.
Effect Of Covid-19 On The Consumption Of Smartwatches
Covid-19 has adversely affected many industries. However, post covid we have seen an increase in the sale of smartwatches. People are trying to stay fit and hence are more attracted to smartwatches. Let us take a look at some stats related to the pandemic and smartwatches.
- The global wearable sale was reported to fall by 6.9% in the second quarter of the year 2022.
- The smartwatch and wearable shipment is expected to grow from 69.3 million units in 2019 to 109 million units by the end of the year 2023.
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Wrapping Up: Smartwatch Statistics (2023)
That’s all about the smartwatch statistics.
My day is surely incomplete without my smartwatch, so is yours?
Smartwatches have surely brought a revolution in the world of wearables. Tech enthusiasts, smartwatch lovers, etc. use smartwatches every day. It helps users to stay fit and healthy.
I hope that the above article has helped you to understand smartwatch statistics. If I have missed any important statistics, you can add them in the comment section below. I keep updating my article and will add them with the due credits.
Which smartwatch do you use, and what is its most interesting feature?