According to a new report published by UnivDatos Markets Insights, the Smartwatch Battery Market was valued at USD 453.6 million in 2021 & is expected to grow at a CAGR of 13.2% from 2022-2030. The analysis has been segmented into Battery Life (Upto 1 day, 1-5 days, and Above 5 days); Operating System (Android, iOS, and Others); Region/Country.
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The smartwatch battery market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the smartwatch battery market. The smartwatch battery market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the smartwatch battery market at the global and regional levels.
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Key Market Dynamics
At present, With the rapid growth of the wearable technology industry has come a vast array of available products to suit almost any individual’s needs. The youths and millennium are increasingly adopting wearables owing to the surging awareness about the benefits of fitness wearables. As per eMarketer, Wearables have appealed mostly to younger people. In 2015, 24.0% of those ages 25 to 34 had a wearable device, while 6.5% of those ages 55 to 64 had one. In 2019, young consumers will still be the largest group of wearable users, with penetration among the 25-to-34 cohort jumping to 38.0%. Additionally, factors such as a combination of a tech-savvy population, health-consciousness, emphasis on fashion and design, and the appeal of digital connectivity have led to the increasing demand for the smartwatch batteries market.
For instance, In Jun 2022, Fire-Boltt Ring 3 smartwatch was launched in India. The Ring 3 comes with support for features such as Bluetooth Calling and health tracking. Furthermore, In May 2023, Noise launched ColorFit Pulse 3 with a 2.5D curved design and an array of health and fitness features. Additionally, in May 2023, the boat Storm Connect Plus smartwatch was launched in India. The smartwatch with 1.91-inch display, Bluetooth calling, a health tracker, battery life of 7 to 10 days.
COVID-19 Impact
The COVID-19 pandemic has paralyzed industries and disrupted manufacturing. The pandemic has resulted in hasty closures of national and internal borders, resulting in operational inefficiencies, and disrupted value chains, resulting in damage and lost revenue. The pandemic has also led to a significant increase in the adoption of smartwatches as people have been forced to stay at home and rely on technology for communication and entertainment. This has resulted in an increase in the demand for smartwatches and has led to a shortage of supply in the market. The use of smartwatches has helped a lot of people across the globe during covid-19 and is also helping in today’s time. As it helps in regularizing the heart rate, or by putting daily reminders for water or medicines and other features. For example, Fitbits detect lasting changes after Covid-19 which can continually collect data on heart rates, body temperature, physical activity and more could help detect early signs of Covid-19 symptoms soon.
The global smartwatch battery market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on battery life, the market is segmented into upto 1 day, 1-5 days, and above 5 days. The 1-5 days segment accounted for a significant market share in 2021.
· Based on operating system, the market is categorized into Android, iOS, and others. Among these, Android is expected to grow with a significant CAGR during the forecast period.
Smartwatch battery Market Geographical Segmentation Includes:
· North America (U.S., Canada, Rest of North America)
· Europe (Germany, U.K., France, Spain, Italy, Rest of Europe)
· Asia-Pacific (China, Japan, India, Rest of Asia-Pacific)
· Rest of the World
North America is expected to hold a significant market share in the year 2021. This is mainly owing to the increasing demand for smartwatches in the region. Because customers here mainly prioritize longer battery life and convenience to track their body balance. Additionally, factors such as the increasing popularity of smartwatches, advancements in technology, health and wellness trends, and a tech-savvy consumer base are also contributing to the growth of the market. Additionally, advancements in smartwatch technology have resulted in more power-hungry functionalities and larger displays, increasing the need for higher-capacity batteries. Consumers expect longer battery life to ensure uninterrupted usage throughout the day, leading to an increased demand for efficient and long-lasting batteries. For instance, Sep 2022, Apple launched a new line of smartwatches: Series 8, new SE, and Ultra. Apple claims that its Ultra model has the best battery life of any Apple Watch, reaching up to 36 hours during normal use.
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the smartwatch battery market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.
Recent Developments:
· In Apr 2023, the Itel 2ES smartwatch launched with up to 12 days of battery life.
· In Feb 2023, Fire-Boltt Dagger launched a smartwatch with up to 15 days of battery life.
· In Nov 2022, Amazfit Pop 2 Launched with Bluetooth Calling, 10-Day Battery Life Smartwatch In India.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the smartwatch battery market?
• Which factors are influencing the smartwatch battery market over the forecast period?
• What are the global challenges, threats, and risks in the smartwatch battery market?
• Which factors are propelling and restraining the smartwatch battery market?
• What are the demanding global regions of the smartwatch battery market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
• What are the descriptive profiles of key companies along with their SWOT analysis?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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About UnivDatos Market Insights (UMI)
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Target Audience:
· Smartwatch Battery Manufacturers
· Raw Material Suppliers & Distributors
· Research Organizations & Consulting Companies
· Government Organization & Other Organizations
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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