According to a new report by UnivDatos, Smartwatch Battery Market, is expected to reach USD 1337 Million in 2030 by growing at a CAGR of 13.2%. The power source that keeps a smartwatch running is its battery. It supplies the energy required for the gadget to run, supplying power to the processor, display, sensors, and other features and applications. The market for smartwatch batteries looks to have a bright future. More long-lasting and efficient batteries are anticipated as a result of the quick developments in smartwatch technology and the growing consumer adoption of these gadgets. Furthermore, smartwatches' integration of many health and fitness tracking capabilities as well as their possibility for standalone connectivity increase the demand for dependable battery life. The market for smartwatch batteries is expected to grow in the near future. Due to the growing demand from consumers for wearable technology and the growing popularity of smartwatches, the industry is expanding steadily. The ease provided by smartwatches, improvements in mobile connectivity, and rising health and fitness consciousness are all driving market expansion.
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The report suggests that the increase in demand for smartwatch is one of the major factors driving the growth of the smartwatch battery market during the forthcoming years. A growing number of people are switching from traditional wristwatches to these multipurpose gadgets that accomplish a variety of tasks, such as call and fitness tracking. Watch Faces has released data showing that the number of people who possess smartwatches has increased to an astounding 22.5% of all internet users worldwide, or 1.2 billion people. This number represents a noteworthy 9% rise over the prior year.
The adoption rates of smartwatches exhibit notable variation throughout nations, indicating differing levels of popularity. Interestingly, the UAE tops the list with an astounding 33.4% of its 3.1 million internet users (or about 3.1 million) owning a smartwatch. With 31.6% of its internet users, or over 3 million people, having a smartwatch, the Czech Republic takes second place. Hong Kong comes in second, with 30.6%, or around 2.1 million smartwatch owners. Given the size of the nation and its population, India exhibits a stunning 29.1% smartwatch adoption rate, or 201.4 million users. With 10.6 million smartwatch owners, or 28.8% of internet users, Poland rounds out the top five nations with the highest rate of smartwatch adoption. The percentage of internet users in the United States that own a smartwatch (26%), or about 80.9 million people, is higher than normal. On the other hand, Canada has a marginally lower rate of smartwatch ownership (21.8%).
Surprisingly, though, internet users are least likely to adopt smartwatches in Ghana, Morocco, and Japan. Even with an excellent 83% internet penetration rate in 2023, just 8.6% of Japanese internet users own a smartwatch, despite the country's position as a tech-savvy nation and a major participant in the electronics industry. Ghana's percentage is only 5.9%, but Morocco's is 6.4%.
It's interesting to note that the global enthusiasm in smartwatches doesn't seem to be abating. Previous research conducted by Watch Faces indicates that tech companies like Apple are seeing high demand for their smartwatch products. Apple demonstrated its market supremacy in 2022 by selling an astounding 50 million smartwatches.
Smartwatch Battery Technology:
· Lithium-ion batteries: Owing to their high energy density, extended longevity, and affordable price, they are the most widely used batteries in smartwatches.
· Nickel-based batteries: These batteries are renowned for their long-lasting nature and capacity to hold a charge. They are frequently found in tougher or more outdoor-oriented timepieces.
· Supercapacitors: Electrostatic double-layer capacitance and electrochemical pseudocapacitance are the energy-storage methods used in these batteries. They charge and discharge quickly and have a high power density.
· Thin-film batteries: A thin layer of active material is used in these batteries to boost energy density and surface area. They are frequently found in little gadgets like smartwatches.
· Graphene-based batteries: Graphene, a highly conductive and flexible material, is used in these batteries to decrease charging periods and increase energy density. Although they are still in the early phases of development, the outcomes are encouraging.
· Improved battery life: A single charge may power the batteries in a lot of contemporary smartwatches for several days or even up to a week. This is brought about by enhanced power management and processing efficiency.
· Fast charging: Fast charging is a feature of certain smartwatches that let you quickly replenish your battery when you're short on time.
· Solar-powered smartwatches: There are some companies who sell smartwatches that use solar energy to prolong their battery life.
· Wireless charging: Certain smartwatches are equipped with wireless charging technology, which makes charging your watch easier by doing away with the need for wires.
· Advanced power-saving features: Advanced power-saving features found in many smartwatches include motion sensors, which can recognize when you're not wearing the watch and automatically disable some functionality to save battery life.
Smartwatch Battery Market Segment:
Based on the operating system, the market is segmented into Android, iOS, and others. Over the course of the forecast period, the Android system smartwatch sector is expected to increase at the fastest rate. The Android smartwatch is less expensive. It focuses on a broader range of consumers and manufacturing variants of products also available for people with lower purchasing power. Android provides in comparison to other platforms. With regard to third-party apps and services, Android provides superior integration. The seamless integration of Android-based smartwatches with a wide range of apps and services improves their usefulness and usability, drawing in consumers who prioritize this kind of seamless experience. The need for batteries that support the Android operating system is rising in tandem with the increased demand for smartwatches that are compatible with Android. Since Android is an open-source operating system, most smartwatch manufacturers provide watches with this platform. For instance: in September 2023, Huawei launched Watch GT 4 smartwatch series in Barcelona. The watch will be available from major retailers from Oct. 4, with the cheapest models starting at around 250 euros (266.6 U.S. dollars) and increasing to around 400 euros for the most expensive versions.
Recent Developments
· In May 2022: Enovix Corporation, a pioneer in the development and production of 3D lithium-ion silicon batteries for the next generation, has accomplished a significant technological milestone in its validation process. Additionally, as a result, it got its first order from one of the top consumer electronics businesses in the world for a high-energy-density smartwatch battery. The customer's product development has entered a new phase with this transaction.
· In November 2021: An industrial project was signed by Tianjin Lishen Battery Co. Ltd. It was intended to build the new energy industrial base and Lishen R&D center project in Wuxi, Xishan. With a total land area of over 800 million square meters in Dongguan, this project will cost about USD 1.75 billion.
· In April 2021: Samsung SDI and Amperex Technology Limited (ATL) in China were to supply batteries to Samsung Electronics for their upcoming smartwatch, the Galaxy Watch 4.
· In September 2020: Alibaba and EVE signed the Annual Cooperation Agreement. With this partnership, e-commerce would strengthen and expand the image of the EVE brand while offering top-notch lithium battery goods and services to clients throughout the world.
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Conclusion
The market for smartwatch batteries looks to have a bright future. The market for smartwatch batteries is expected to grow in the near future. They are frequently found in tougher or more outdoor-oriented timepieces. They charge and discharge quickly and have a high power density. They are frequently found in little gadgets like smartwatches. This is brought about by enhanced power management and processing efficiency. Over the course of the forecast period, the Android system smartwatch sector is expected to increase at the fastest rate. The Android smartwatch is less expensive than the iOS smartwatch.
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