Smartwatch Battery Market: Current Analysis and Forecast (2022-2030)

Report Description

Global 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. A battery is a combination of electrochemical cells composed of three fundamental components: cathode, anode, and electrolyte. If the battery cathode and anode are attached to an external device, which allows electrons to move from one end of the circuit to the other, there is a biochemical reaction in the cell. A smartwatch is an electronic wristwatch that has a touchscreen display with several functions, including timekeeping, but most manufacturers use lithium-ion batteries. Rechargeable lithium batteries enable many charging cycles without a memory effect, which makes them suitable for long battery life. Factors such as the advanced features of smartwatches coupled with the rising trend of wearable technology amongst young youth are increasing the demand for the smartwatch battery market. Major companies in the market offer Smartwatch with technologically advanced features with better battery life on a single charge. For instance, in Mar 2023, Amazfit GTR Mini with a 1.28-inch display, and 20-day battery life launched in India.

Shenzhen Grepow Battery Co., Ltd; EVE Energy Co., Ltd; Enovix Corporation; DESAY CORPORATION.; SAMSUNG SDI CO., LTD.; Renata Battery; BENZO Energy Technology Co., Ltd; LG Chem; Tianjin Lishen Battery Co., Ltd.. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst battery life, 1-5 days segment accounted for a significant market share in 2021.”

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. This is mainly owing to advancements in battery technology that have contributed to the feasibility of achieving longer battery life in smartwatches. Improvements in battery efficiency, energy management systems, and the overall design of smartwatches have made it possible to extend the battery life while maintaining a sleek and compact form factor. Additionally, Smartwatches are no longer just timekeeping devices; they now offer fitness tracking, heart rate monitoring, sleep tracking, smartphone notifications, and more. These advanced features require more power, and users expect their smartwatches to handle these functionalities while still maintaining reasonable battery life.

“Amongst operating system, Android is expected to grow with a significant CAGR during the forecast period”

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. This is mainly due to the advantages Android offers as compared to its counterparts. Android offers better integration with third-party apps and services. This compatibility with various apps and services enhances the functionality and usability of Android-based smartwatches, attracting users who value seamless integration with their favorite apps and services. The higher demand for Android-compatible smartwatches translates into higher demand for batteries supporting the Android operating system.

“North America is expected to hold a significant market share in the year 2021”

In 2021, 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.

Smartwatch Battery Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global smartwatch battery market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Smartwatch Battery Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global smartwatch battery market were the three major steps undertaken to create and analyze the adoption of smartwatch battery in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global smartwatch battery market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the smartwatch battery market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the smartwatch battery market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as battery life and operating system. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the smartwatch battery market. Further, we conducted factor analysis using dependent and independent variables such as various battery life and operating system of smartwatch battery. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the smartwatch battery market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global smartwatch battery market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the smartwatch battery market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global smartwatch battery market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global smartwatch battery market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of battery life and operating system in the global smartwatch battery market.

The main objective of the Global Smartwatch Battery Market Study

The current & future market trends of the global smartwatch battery market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the smartwatch battery market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of battery life and operating system.
• Define and analysis of the regulatory framework for the smartwatch battery
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the smartwatch battery market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the smartwatch battery market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

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