Smartwatch Industry Report 2024 examines the latest developments and market forces influencing the wearable technology sector. The report explores the rapid evolution of smartwatches, highlighting their importance in health monitoring, fitness tracking and everyday convenience. The report provides a comprehensive overview of industry growth drivers by analyzing consumer preferences, technological advancements and strategic collaborations.

This smartwatch market report serves as a reference for industry stakeholders, investors, policymakers, and economic analysts, providing a snapshot of the state of the industry to determine its trajectory for innovation and growth in the coming years.

StartUs Insights Smart Watch 2024 Report

Executive Summary: Smart Watch Market Report 2024

This report was created using data obtained from StartUs Insights Discovery Platform Big Data and Artificial Intelligence, covering more than 4.7 million global companies, as well as more than 20 thousand technologies and emerging trends. We also analyzed a sample of 550+ smartwatch startups to present five examples from emerging trends in the smartwatch industry.

• Industry growth: The smartwatch market grew by 32.34% annually, reflecting the increasing range of applications for the technology.
• Labor force and employment: With smartwatches becoming an integral part of health and fitness tracking, the industry continues to grow with 427,000 employees worldwide and 27,000+ new hires last year.
• Patents and grants: The industry has received over 4,600 patents and 250 grants, reflecting recent breakthroughs in smartwatch technology.
• Global footprint: The report highlights the top five regional hubs for the industry such as the US, India, Spain, China and Germany. The capital cities with the most startup activity are Shenzhen, London, New Delhi, Mumbai and Dhaka.
• Top investors: The smartwatch industry has attracted significant investment from leading investors, demonstrating strong market confidence and investing over USD 700 million.
• Startup ecosystem: The five innovative features to launch include COSMO Technologies (child safety), Silver Technologies (elderly care), Samplify (personalized health monitoring), SpectralPad (jaundice detection) and Experiwear (smart wristbands for events).
• Recommendations for interested parties: Entrepreneurs should identify market niches and unmet needs to develop unique, easy-to-use applications. Companies should also invest in workforce development and strategic partnerships to improve product offerings and market reach. Collaboration among all stakeholders is essential to drive industry growth.

Explore the smartwatch market outlook based on data to 2024

Smart Watch Market Report 2024, Based on Discovery platform The data reveal a rapidly growing industry with significant potential. The report points out that more than 5,000 companies, including many startups, are involved in the smartwatch market, which has expanded significantly in the past year.

This growth is supported by a large number of patents and grants, indicating constant innovation in the sector. The industry employs a significant workforce globally, with significant growth over the past year. The report identifies key geographies for the industry, including the US, 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 our data Discovery platform, we noticed that the smartwatch industry ranks in the top 5% in the following categories across all 20,000 topics in our database. These categories provide a comprehensive overview of key industry metrics and inform the near-term future direction of the industry.

• News and publications: The industry has received significant news coverage, with more than 109,000 publications last year, highlighting its dynamic presence.
• Funding circles: More than 700 funding rounds have been recorded in our database, indicating strong investor interest and financial support.
• Work force: The industry employs more than 427,000 workers, adding more than 27,300 new employees in the past year, showing strong job growth.
• Patents: It boasts more than 4,600 patents, demonstrating constant innovation and technological advancement.
• Support: The industry has received more than 250 grants, highlighting significant investment in research and development.
• Annual growth of global search: Global search growth for the industry increased by 53.92% annually, reflecting increasing consumer interest and market expansion.
• and more. Get in touch to explore all the data points used in this smartwatch market report.

A snapshot of the global smartwatch industry

The smartwatch industry has seen significant growth and investment, as evidenced by several key figures. The growth of employees last year was 27.3 thousand, highlighting the rapid expansion of the industry. With more than 5,000 companies operating within the sector, the landscape is diverse and competitive.

Explore the financing framework of the smartwatch industry

The smartwatch industry is attracting significant investment, with an average of $24 million invested per funding round. More than 220 investors are participating, which shows confidence in the future of the market. More than 700 funding rounds have been completed and more than 230 companies have received investment, reflecting strong interest and belief in the sector’s potential.

Who invests in smart watch solutions?

The smartwatch sector continues to grow, fueled by significant financial backing and a growing workforce. The smartwatch industry has attracted significant investment from leading investors, demonstrating strong market confidence. The total value invested by top investors is more than 710 million USD. Below are the main investors and their contributions:

Access the top innovations and trends in smartwatches with the Discovery platform

Facilitation is a prominent trend in the industry, with more than 31,600 companies identified as participants. This trend employs a huge workforce of 1.7 million people, reflecting its widespread acceptance and importance. Last year, 88 thousand new employees joined this sector. Despite the wide reach, the annual growth rate of the trend is 1.94%, which shows a steady but moderate increase.

Smart watch apps are experiencing rapid growth, and 177 companies have been identified as key players. This niche employs approximately 6,000 individuals, with 500 new employees added in the past year, highlighting its workforce expansion. The annual trend growth rate of 24.57% highlights the increasing demand for smartwatch applications.

Ambient light sensors are an essential component in various devices, with 103 companies identified in this sector. This area employs about 6,500 people, although it received only 290 new employees last year. Despite its importance, the annual trend growth rate is -1.85%, indicating a slight decline. Ambient light sensors are key to improving user experience by adjusting screen brightness and extending battery life.

Top 5 examples from 550+ innovative smartwatch startups

The five innovative startups featured below were selected based on data including the trend in which they operate and their relevance, year founded, funding status and more. Book a demo of the platform to find promising startups, emerging trends or industry data specific to your company’s needs and goals.

COSMO Technologies simplifies child safety

American startup Cosmo Together offers an innovative child safety solution designed to ensure the well-being of children. His platform, COSMO, provides real-time location tracking for children, increasing parental peace of mind. The COSMO the device has geofencing capabilities, alerting parents if their child leaves certain safe zones. Additionally, the device includes an SOS button for emergencies, allowing children to quickly signal for help. By integrating easy-to-use mobile apps, parents can easily monitor their child’s safety.

Silver Technologies advances care for the elderly

Silver Monitor is a startup based in Croatia that offers a solution for elderly care using smart watch technology. The platform offers continuous health monitoring, monitoring of vital signs and activity levels. The Silver Monitor smartwatch detects falls and immediately alerts caregivers, ensuring prompt assistance. It also tracks sleep patterns, helping to optimize rest and improve overall health. The system includes medication reminders, promoting adherence to prescribed treatments. In addition, the GPS feature ensures the safety of the elderly by tracking their location in real time.

Samplify offers a pre-analytical phase analyzer

Poland-based startup Samplify offers an innovative solution for personalized health monitoring using smart watch technology. The Sample it the platform integrates advanced algorithms to analyze real-time health data from smart watches. It provides insight into a variety of health metrics, including heart rate, sleep patterns, and physical activity levels. Through continuous monitoring, the platform detects irregularities and potential health problems and enables timely interventions. In addition, the technology integrates with other healthcare applications and devices, increasing its usefulness.

SpectralPad specializes in detecting jaundice

Swiss startup SpectralPad specializes in jaundice detection solutions using smartwatch technology. Its platform uses a photoplethysmographic sensor to non-invasively monitor bilirubin levels. The smartwatch app provides real-time data, ensuring continuous monitoring of newborns. The platform’s user-friendly interface simplifies use for healthcare professionals and parents. This innovative approach to detecting jaundice represents a significant advance in the treatment of the disease.

Experiwear offers smart bracelets for events

Canadian startup ExperiWear offers wearable solutions for event experiences using smart technology. The FanBand seamlessly integrates with smartwatches to enhance live event engagement. This solution delivers real-time notifications, event schedules and exclusive content directly to users’ smartwatches. In addition, the platform enables contactless payments and interactive experiences, simplifying event navigation and participation. The technology supports data analysis, offering event organizers insight into attendee behavior and preferences.

Get a comprehensive insight into trends, startups or smartwatch technologies

Smartwatch industry report 2024 shows significant growth and innovation. With new features and improved technology, smartwatches are becoming more useful and popular. Ongoing developments will change the future of wearable technology. With constant advances in battery life, connectivity and miniaturization, the future of smartwatches looks brighter than ever. Get in touch to explore all 550+ startups and scaleups, as well as all the industry trends impacting smartwatch companies.