The 2024 Smart Watch Industry Report examines the latest developments and market forces influencing the wearable technology sector. The report explores the rapid evolution of smartwatches, highlighting their significance in health monitoring, fitness tracking, and daily convenience. The report provides a comprehensive overview of the industry’s growth drivers by analyzing consumer preferences, technological advancements, and strategic collaborations.
This smart watch market report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Smart Watch Report 2024
- Executive Summary
- Introduction to the Smart Watch Report 2024
- What data is used in this Smartwatch Market Outlook?
- Snapshot of the Global Smart Watch Industry
- Funding Landscape in the Smart Watch Industry
- Who is Investing in Smartwatch Solutions?
- Emerging Trends in the Smart Watch Industry
- 5 Innovative Smart Watch Startups
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Executive Summary: Smartwatch Market Report 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 550+ smartwatch startups to present five examples from emerging smartwatch industry trends.
- Industry Growth: The smart watch market has grown yearly at 32.34%, reflecting an increasing range of applications for the technology.
- Manpower & Employment: With smart watches becoming integral to health monitoring and fitness tracking, the industry continues to grow with 427000 employees worldwide and 27000+ new hires last year.
- Patents & Grants: The industry has received over 4600 patents and 250 grants, reflecting recent breakthroughs in smartwatch technology.
- Global Footprint: The report highlights the top five regional hubs for the industry as the USA, India, Spain, China, and Germany. The top cities with the most startup activity are Shenzhen, London, New Delhi, Mumbai, and Dhaka.
- Top Investors: The smart watch industry has attracted significant investment from leading investors, demonstrating strong market confidence, and investing over USD 700 million.
- Startup Ecosystem: Five innovative startup features include COSMO Technologies (child safety), Silver Technologies (senior care), Samplify (personalized health monitoring), SpectralPad (jaundice detection), and Experiwear (smart event bands).
- Recommendations for Stakeholders: Entrepreneurs should identify niche markets and unmet needs to develop unique and user-friendly applications. Companies should also invest in workforce development and strategic partnerships to enhance product offerings and market reach. Collaboration among all stakeholders is crucial to drive the industry’s growth.
Explore the Data-driven Smart Watch Market Outlook for 2024
The 2024 Smartwatch Market Report, based on Discovery Platform data, reveals a rapidly growing industry with significant potential. The report highlights that over 5000 companies, including many startups, are involved in the smartwatch market, which has expanded considerably in the last year.
This growth is supported by a large number of patents and grants, indicating ongoing innovation in the sector. The industry employs a substantial workforce globally, with notable growth in the past year. The report identifies key geographic areas for the industry, including the USA, India, Spain, China, and Germany, and cities such as Shenzhen, London, New Delhi, Mumbai, and Dhaka.
What data is used to create this smartwatch report?
Based on the data provided by our Discovery Platform, we observe that the smart watch industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The industry received significant news coverage, with over 109000 publications last year, highlighting its dynamic presence.
- Funding Rounds: There were more than 700 funding rounds recorded in our database, indicating strong investor interest and financial support.
- Manpower: The industry employs over 427000 workers, adding more than 27300 new employees in the past year, demonstrating robust job growth.
- Patents: It boasts over 4600 patents, showcasing continued innovation and technological advancement.
- Grants: The industry received over 250 grants, underscoring the significant research and development investments.
- Yearly Global Search Growth: Global search growth for the industry increased by 53.92% yearly, reflecting rising consumer interest and market expansion.
- and more. Get in touch to explore all the data points used in this smart watch market report.
A Snapshot of the Global Smart Watch Industry
The smart watch industry has experienced substantial growth and investment, evidenced by several key data points. Employee growth last year was 27.3K, highlighting the industry’s rapid expansion. With over 5000 companies operating within the sector, the landscape is diverse and competitive.
Explore the Funding Landscape of the Smart Watch Industry
The smartwatch industry attracts significant investment, with an average of USD 24 million invested per funding round.Over 220 investors participate, demonstrating confidence in the market’s future. There have been over 700 funding rounds completed, and more than 230 companies have received investments, reflecting strong interest and belief in the sector’s potential.
Who is Investing in Smart Watch Solutions?
The smart watch sector continues to grow, driven by substantial financial backing and a growing workforce. The smart watch industry has attracted significant investment from leading investors, demonstrating strong market confidence. The combined value invested by the top investors amounts to more than USD 710 million. Below are the top investors and their contributions:
- Generation Investment Management: Invested USD 224 million across 2 companies.
- Fasanara Capital: Focused on a single company with an investment of USD 220 million.
- Warburg Pincus: Invested USD 130 million in 1 company.
- Algae Ventures: Distributed USD 84 million across 2 companies.
- Daphni: Committed USD 60 million to 2 companies.
- and more. Get in touch to explore all investments in the smartwatch industry
Access Top Smartwatch Innovations & Trends with the Discovery Platform
Lightweighting is a prominent trend in the industry, with over 31600 companies identified as participants. This trend employs a vast workforce of 1.7 million individuals, reflecting its widespread adoption and importance. Last year, 88K new employees joined this sector. Despite its extensive reach, the annual trend growth rate is 1.94%, showing a steady but moderate increase.
Smart Watch Apps are experiencing rapid growth, with 177 companies identified as key players. This niche employs around 6000 individuals, with 500 new employees added in the last year, highlighting its expanding workforce. The annual trend growth rate of 24.57% underscores the increasing demand for smart watch applications.
Ambient Light Sensors are an essential component in various devices, with 103 companies identified in this sector. This field employs approximately 6500 people, although it saw only 290 new employees in the past year. Despite its importance, the annual trend growth rate is -1.85%, indicating a slight decline. Ambient light sensors are crucial for enhancing user experience by adjusting screen brightness and improving battery life.
5 Top Examples from 550+ Innovative Smart Watch Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
COSMO Technologies streamlines Child Safety
US-based startup Cosmo Together offers an innovative child safety solution designed to ensure children’s well-being. Its platform, COSMO, provides real-time location tracking for children, enhancing parental peace of mind. The COSMO device features geofencing capabilities, alerting parents if their child leaves designated safe zones. Additionally, the device includes an SOS button for emergencies, allowing children to quickly signal for help. By integrating user-friendly mobile apps, parents easily monitor their child’s safety.
Silver Technologies advances Senior Care
Silver Monitor is a Croatia-based startup that provides a senior care solution using smart watch technology. The platform offers continuous health monitoring, tracking vital signs and activity levels. Silver Monitor’s smart watch detects falls and immediately alerts caregivers, ensuring quick assistance. It also monitors sleep patterns, helping to optimize rest and improve overall health. The system includes medication reminders, promoting adherence to prescribed treatments. Additionally, the GPS feature ensures the safety of seniors by tracking their location in real-time.
Samplify offers a Preanalytical Phase Analyzer
Poland-based startup Samplify offers an innovative solution for personalized health monitoring using smart watch technology. The Samplify platform integrates advanced algorithms to analyze real-time health data from smart watches. It provides insights into various health metrics, including heart rate, sleep patterns, and physical activity levels. Through continuous monitoring, the platform detects irregularities and potential health issues, allowing for timely interventions. Additionally, the technology integrates with other health apps and devices, enhancing its utility.
SpectralPad specializes in Jaundice Detection
Swiss startup SpectralPad specializes in jaundice detection solutions using smart watch technology. Its platform leverages the photoplethysmography sensor to monitor bilirubin levels non-invasively. The smart watch app provides real-time data, ensuring continuous monitoring of newborns. The platform’s user-friendly interface simplifies usage for healthcare professionals and parents. This innovative approach to jaundice detection represents a significant advancement in disease management.
Experiwear provides Smart Bands for Events
Canadian startup ExperiWear offers wearable solutions for event experiences using smart technology. The FanBand integrates seamlessly with smart watches to enhance live event engagement. This solution provides real-time notifications, event schedules, and exclusive content directly to users’ smart watches. Additionally, the platform enables contactless payments and interactive experiences, streamlining event navigation and participation. The technology supports data analytics, offering event organizers insights into attendee behaviors and preferences.
Gain Comprehensive Insights into Smartwatch Trends, Startups, or Technologies
The 2024 smart watch industry report shows significant growth and innovation. With new features and improved technology, smart watches are becoming more useful and popular. Ongoing developments will change the future of wearable technology. With ongoing advancements in battery life, connectivity, and miniaturization, the future of smart watches looks brighter than ever. Get in touch to explore all 550+ startups and scaleups, as well as all industry trends impacting smart watch companies.
