Europe Smart Watches Market Size (2024 - 2029)

Europe Smart Watches Market Analysis

The Europe Smart Watches Market size is estimated at USD 6.11 billion in 2024, and is expected to reach USD 10.23 billion by 2029, growing at a CAGR of 10.84% during the forecast period (2024-2029).

• Smartwatch is becoming popular for providing hands-free control and access to data anywhere at any time. Apart from this, biometric functionality, GPS and mapping capability, and independent smartphone functionality are a few unique features of the smartwatch in line with the increasing disposable income of the people, which is expected to drive the market in European countries.
• With the growing number of connected cars in European countries, the number of features to be used via smart wearables is also increasing. According to Goldman Sachs, the project size of the global market for vehicle-to-everything (V to X) technologies is expected to reach USD 14,773 million by 2030.
• In addition, most of the automotive players are also teaming up with the smartwatch vendors in the market to utilize the user's health data and create a better driving experience. For instance, Garmin signed an integral collaboration with German automobile company Daimler AG to bring wearable technology into Mercedes-Benz vehicles as the outcome of their Fit & Healthy project.
• Also, the component suppliers, such as ARM Holding and Bosch, have been actively introducing processors and chipsets, among others, to cater to the customers' ever-increasing needs for multipurpose performance features across the fitness and wellness segment.
• For instance, South Australian smartwatch company Spacetalk signed a deal with its first European retailer in October last year. The company announced USD 4 million in revenue for the first quarter of the last financial year, driven by strong growth in the United Kingdom. Its Adventurer smartphone watch, aimed at children aged five to 12, is designed to help parents stay in touch with their kids without the complexities and potential pitfalls of mobile phones.
• Moreover, the inaugural European partnership with Elisa, Finland's telecommunications and digital services company, is expected to lead to more retailers coming on board in the coming months.
• Moreover, the COVID-19 pandemic encouraged many vendors to launch solutions to curb the spread of the virus with the help of smartwatches. For instance, the German authority launched a smartwatch app in partnership with health tech startup Thryve to help monitor the spread of COVID-19 and analyze whether measures to contain the novel coronavirus pandemic were working. The Corona-Datenspende (Corona Data Donation) app enabled the gathering of vital signs from volunteers wearing smartwatches or fitness trackers - including pulse, temperature, and sleep - to analyze whether they were symptomatic of the flu-like illness.

Europe Smart Watches Industry Segmentation

A smartwatch is a wearable electronic device with computed capabilities for specific functions and closely resembles a wristwatch. Owing to the type of application it is used for, and in addition to displaying the time, many smartwatches have wireless communication capabilities that a user can use from the watch interface to initiate and answer phone calls, read emails and messages, receive weather report updates, dictate emails or text messages, or use it as a personal digital assistant.

The European Smartwatch Market is Segmented by Operating Systems (Watch OS, Android/Wear OS, and Other Operating Systems), Display Type (AMOLED, PMOLED, and TFT LCD), Application (Personal Assistance, Medical, Sports, and Other Applications), and Country (the United Kingdom, Germany, Spain, and Rest of Europe). The report offers the market size in value terms in USD for all the abovementioned segments.