Smartwatch Battery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Smartwatch Battery Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Smartwatch Battery Market

The smartwatch battery market size was valued at USD 0.41 billion in 2021, and the market is now projected to grow from USD 0.52 billion in 2022 to USD 2.33 billion by 2029, exhibiting a CAGR of 23.8% during the forecast period of 2022-2029.

COVID-19 affected the smartwatch battery market growth in the initial phase of its outbreak in 2020 because of low smartwatch sales and disrupted supply chain systems. However, demand gradually recovered once production normalized mid-year, and consumer priorities shifted toward fitness and health tracking. The dependency on China impacted the battery part but there was moderate growth in the industry due to becoming more health-conscious. The overall market has become more stable with the focus on wellness and more home activities by late 2020.

With the rise in per capita income, spending power for portable devices is rising as customers spend their money and time on technologically smart devices such as smartphones, tablets and smartwatches. Technology advancements such as wireless electronics spurred by connectivity and digitization also aid battery demand. Smartwatches for fitness tracking and environmental sensing fulfil key consumer needs. Advances in battery technology further enhance appeal, offering lightweight, fast-charging and long-lasting options. Fitness awareness and AI integration in wearables continue to propel the smartwatch battery market share.

Additionally, rising fitness awareness and demand for health-tracking capabilities are driving smartwatch adoption, with features such as SpO2, ECG and calorie counters gaining popularity. Leading brands, including Noise, Fitbit and Samsung are launching devices tailored for health monitoring. Fitness trends among youth and growing fitness club memberships underscore the interest in wearable tech. They are increasing urbanization and digital awareness further fueling the global demand for smart devices. This trend positions the smartwatch market for substantial growth.

Comprehensive Analysis of Smartwatch Battery Market

The smartwatch battery market and power & energy industry are rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated by rated voltages and by applications. The rated voltage include, 3.7V, 4.2V, and Others. The application such as iOS System Smartwatch and Android System Smartwatch.

Asia Pacific leads the smartwatch battery market, propelled by rapid growth in consumer electronics and a surge in regional smartwatch manufacturers. The tech-savvy population and increasing health consciousness, especially regarding chronic conditions such as obesity and diabetes, fueling demand. Emerging markets in the region see a steady rise in smartwatch adoption for fitness and wellness tracking. This trend aligns with the broader lifestyle shift toward health and technology integration. The market is set for continued expansion in Asia Pacific.

The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include, Grepow Battery (China), EVE Energy Co., Ltd (China), SAMSUNG SDI CO., LTD. (South Korea), Renata Battery (Switzerland), Tianjin Lishen Battery Joint-Stock Co., Ltd. (China), BENZO Energy Technology Co., Ltd (China), Dongguan Perfect Amperex Technology (China), Enovix (U.S.), Guangzhou Fullriver Battery New Technology Co Ltd. (China), Shenzhen Topway New Energy Co., Ltd (China). These market players provide a level-playing competitive landscape.

In May 2022, Enovix Corporation, the innovative company in the field of 3D silicon lithium-ion batteries, said that it passed through an essential technological validation step. That has also led to the establishment of premier battery technology for a smartwatch with high energy density which has made the firm secure the first order from one of the largest electronics consumer industries worldwide. This order marks the beginning of the next stage of the customer’s product development process.

Segmentation Table

Global Smartwatch Battery Market Scope

Study Period

2018-2029

Base Year

2021

Forecast Period

2022-2029

Growth Rate

CAGR of 23.8% from 2022 to 2029

Historical Period

2018-2020

Unit

Value (USD Billion)

Segmentation

By Rated Voltage, Application, and Region

By Rated Voltage

3.7V

4.2V

Others

By Application

iOS System Smartwatch

Android System Smartwatch

By Region

North America (By Rated Voltage, By Application, By Country)

• U.S. (By Application)
• Canada (By Application)

Europe (By Rated Voltage, By Application, By Country)

• Switzerland (By Application)
• Finland (By Application)
• France (By Application)
• Rest of Europe (By Application)

Asia Pacific (By Rated Voltage, By Application, By Country)

• China (By Application)
• Japan (By Application)
• India (By Application)
• South Korea (By Application)
• Rest of Asia Pacific (By Application)

Rest of the World (By Rated Voltage, By Application)Please Note: It will take 5-6 business days to complete the report upon order confirmation.