Smartwatch Battery Market Forecasts to 2028 – Global Analysis By Rated Voltage (4.2V, 3.7V and Other Rated Voltages), By Type (Up to 7 Days, Up to 5 Days, Up to 10 Days, UP to 30 Days and Up to 21 Days), By Sales Channel, By Application and By Geography

Smartwatch Battery Market Forecasts to 2028 – Global Analysis By Rated Voltage (4.2V, 3.7V and Other Rated Voltages), By Type (Up to 7 Days, Up to 5 Days, Up to 10 Days, UP to 30 Days and Up to 21 Days), By Sales Channel, By Application and By Geography

According tStratistics MRC, the Global Smartwatch Battery Market is accounted for $0.50 billion in 2022 and is expected treach $1.63 billion by 2028 growing at a CAGR of 21.8% during the forecast period. A battery is a group of electrochemical cells made up of the cathode, anode, and electrolyte, which are the three basic building blocks. When the battery's cathode and anode are connected tan outside source, allowing electrons tmove through the circuit, a chemical reaction takes place in the cell. Since most manufacturers employ lithium-ion (Li-Ion) batteries, a smartwatch is a touchscreen digital watch with additional features in addition ttimekeeping. Considering that they permit numerous charge-discharge cycles without experiencing a memory effect, Li-ion rechargeable batteries provide a long battery life.

According tthe United Nations, 68% of the world population is anticipated tshift in urban areas by 2050. In addition, the total expenditure on Internet of Things in Asia-Pacific is expected tincrease at a high rate. This is expected tprovide lucrative smartwatch market opportunity globally.

Market Dynamics:

Driver:

Growing demand for portable electronic devices

The global population's income is increasing, enabling individuals tspend more on housing and equip their homes with cutting-edge technical products. Tablets, smartphones, watches, computers, and remote controls are just a few examples of the many electronic devices that are used in homes and for personal use. These devices all have long-lasting batteries and can be recharged. With the accelerating growth of internet connectivity and digitization, there is a rising need for wireless gadgets. Some of the key applications that are crucial components of wristwatch devices and are anticipated tsatisfy customers' basic needs include physical activity monitoring and measurement, environmental sensing, real-time data collection, and communication.

Restraint:

Availability of smartwatch alternatives

Regular watches and traditional watches, which have a significant market presence, are an alternative tsmartwatches. An analogue dial with hour and minute hands characterizes a typical watch. Traditional watches can provide a benefit that smartwatches dnot, notably durability. Traditional watches alshave superior designs and are more visually appealing than smartwatches, which is another factor that is anticipated timpede the adoption of smartwatches. Also, normal watches are preferred by low-income customers, which poses a difficulty for companies in this industry.

Opportunity:

Advanced features of smartwatches

Smartwatches make it simple tmonitor and measure daily fitness activities, including steps taken, calories burned, distance traveled, and others. Smartphones and smartwatches may easily communicate with one another using Bluetooth or wireless communication. This aids in task planning for the athlete or any client. Moreover, smartwatches can play music, receive notifications, make calls, accept mobile payments, and more. The demand for smartwatches is alsincreased by this multitasking function. As a result, this aspect is driving up demand for smartwatch batteries.

Threat:

Quality issue

However, smartwatch technical issues are difficult tfix. Traditional watches have a far longer battery life than smartwatches. Furthermore, some smartwatches have poor sensors. A low-quality sensor or a lack of calibration might be tcause for this. As a result, fitness-related data tracking fails. Moreover, minor flaws that build up over time can cause the consumer tcomprehend things inaccurately. As a result, digital watches are frequently targeted at a smaller customer base. As a consequence, this factor is impeding the growth of the smartwatch battery market.

Covid-19 Impact:

In 2020, COVID-19 rapidly spread throughout the entire world. The coronavirus was reported in almost every nation. Every nation was experiencing the epidemic at a distinct level between 2020 and 2021. The industry participants experienced difficulties as a result of lockdowns. The COVID-19 epidemic in 2020 in China, whose economy is a significant supplier of smartwatches, impacted the market. The COVID-19 pandemic had a moderate impact on the smartwatch market, which negatively effected battery demand in 2020 even if demand for smartwatches could not decline. Indirect influences on battery demand include spending power, fashion, and fitness trends. Several people all across the world are more cautious and focus more on maintaining their health as a result of the COVID-19 pandemic.

The 3.7V segment is expected tbe the largest during the forecast period

The 3.7V segment dominated the market because of its characteristics, including high energy density and voltage, lightweight nature, extreme security, low self-discharge and long lifespan, wide operating temperature, and others. Additionally, the 3.7V category outperforms other conventional batteries in both energy density and capacity while alshaving a considerably longer lifespan. A 3.7V battery may be charged 800 times.

The android system smartwatch segment is expected thave the highest CAGR during the forecast period

Throughout the projection period, the Android smartwatch segment had the highest growth. In comparison tthe iOS system smartwatch, the Android version is less expensive. It focuses on serving a wider range of customers and produces product variations that are alsavailable tpeople whhave limited financial ability. Moreover, Android-based smartwatches experienced the highest growth rate due tthe fact that the majority of the top brands released their products using Google's OS.

Region with largest share:

Due trecent foreign investment and growing demands for the region tbecome sovereign, Europe is anticipated thold the largest market share during the forecast period. Germany has been seeking funding from various nations around the world tdevelop lithium-ion battery manufacturing facilities. For instance, in May 2019, the Chinese company Farasis Energy announced plans tinvest USD 674 million in the development of a lithium-ion battery manufacturing facility in Germany.

Region with highest CAGR:

Asia Pacific is predicted texperience a significant increase in smartwatch production due tthe region's expanding consumer electronics sector and the rapid rise of smartwatch suppliers in its emerging economies. The market growth rate is being driven by an ageing population that is more digitally savvy, a rise in the prevalence of chronic conditions like obesity and diabetes, and the growing acceptance of health and fitness as a way tmaintain a healthy lifestyle.

Key players in the market

Some of the key players in Smartwatch Battery market include EVE Energy Co., Ltd, Tianjin Lishen Battery Joint-Stock Co., Ltd., Grepow Battery, Renata SA, BENZO Energy technology Co.,Ltd, SAMSUNG SDI CO.,LTD., Dongguan Perfect Amperex Technology, Guangzhou Fullriver Battery New Technology CLtd, Enovix, Shenzhen Topway New Energy Co.,Ltd, LG Chem, Samsung, BYD Co. Ltd and BAK Power.

Key Developments:

In May 2022, Enovix Corporation, one of the front-runners in designing and manufacturing next-generation 3D silicon lithium-ion batteries, declared that it had cleared a significant technology validation breakthrough. Also, it has consequently received the first order for its high-energy density smartwatch battery from one of the major consumer electronics companies of the world. This order marks the beginning of the next phase of the customer’s product development process.

In November 2021, Tianjin Lishen Battery Co. Ltd inked an industrial project. In Wuxi Xishan, it planned tdevelop the Lishen R&D center project and new energy industry base. This project investment is of around USD 1.75 billion, with an overall land area of nearby 800 million square meters, in Dongguan.

In September 2021, ABLIC Inc. released the S-82P1B/ S-82P1A series of one-cell battery protection ICs with the world's peak charge-discharge overcurrent detection voltage precision of ±0.75mV. A 1-cell lithium-ion battery is utilized in various uses, specifically in IT devices such as wearables or smartphones. The steadily increasing performance of smartphones has made a trend toward devices with powerful lithium-ion batteries. This factor has increased the need for large charging current tcharge these high-capacity batteries quickly.

In April 2021, Samsung Electronics planned tuse batteries from China's Amperex Technology Limited (ATL) and Samsung SDI for its new smartwatch, Galaxy Watch 4.

In September 2020, EVE signed the Annual Cooperation Agreement with Alibaba. This agreement was for e-commerce tenhance and consolidate EVE’s brand reputation and provide global customers with high-quality lithium battery products and services.

Rated Voltages Covered:
• 4.2V
• 3.7V
• Other Rated Voltages

Types Covered:
• Up t7 Days
• Up t5 Days
• Up t10 Days
• UP t30 Days
• Up t21 Days

Sales Channels Covered:
• Aftermarket
• Manufacturer/Distributor/Service Provider

Applications Covered:
• Android System Smartwatch
• IOS System Smartwatch
• Windows System Smartwatch
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances