The Rising Trend of Wearable Technology Amongst Young Youth Has Propelled the Growth of the Smartwatch Battery Market in the North America Region!

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%.

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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.

Canada is one of the most significant countries that emphasis on health and fitness. Smartwatches with advanced fitness tracking capabilities, heart rate monitoring, and sleep analysis have gained traction among health-conscious individuals. Canadians are increasingly interested in monitoring their health and achieving their fitness goals, leading to a higher demand for smartwatch batteries that can support continuous health monitoring and longer battery life.

Further, the North America Smartwatch Battery Market is expected to grow at a strong CAGR of 17.9% during the forecast period (2022-2030). 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.

FIG. 1 North America Smartwatch Battery Market Revenue (2020-2030)- USD Mn

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.

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.

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Global Smartwatch Battery Market Segmentation

Market Insight, by Battery Life

• Upto 1 day
• 1-5 days
• Above 5 days

Market Insights, by Operating System

• Android
• iOS
• Others

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• APAC
  • China
  • India
  • Japan
  • Rest of APAC
• Rest of the World

Top Company Profiles

• 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