Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Smartwatch Battery Market size was USD 979.6 million in 2024 and is estimated to reach USD 12.44 billion by the end of 2037, expanding at a CAGR of 21.6% during the forecast period, i.e., 2025-2037. In 2025, the industry size of smartwatch batteries is assessed at USD 1.19 billion.
The developed regions, including North America and Europe, are the leading drivers of the smartwatch trade. The presence of tech-savvy consumers in these regions is set to significantly propel the sales of smartwatches and their batteries during the forecast period. The digitalization trend in the emerging economies is also estimated to increase the adoption of smartwatches and subsequently fuel the demand for batteries. Samsung, Apple, Google, and Xiaomi are some of the smartwatch battery market leaders, having potential influence on the trade of smartwatch batteries.
The global smartwatch market is projected to increase from USD 30.7 billion in 2025 to USD 75 billion by 2037. The Research Nester’s analysis reveals that the user penetration of smart watches is likely to expand from 7.1% in 2025 to 9.2% by 2029. Around USD 56.7 is expected to be the average revenue per user, and the total sales are likely to be dominated by the U.S. Overall, investors are anticipated to gain lucrative gains in both developed and developing countries. Depending upon the customer demographic and demands, the sales of smartwatches are foreseen to diversify. Key companies are employing competitive pricing strategies to reach a larger consumer base. The rising trade of smartwatches is set to directly fuel the sales of advanced batteries in the years ahead.
Smartwatch Battery Market: Growth Drivers and Challenges
Growth Drivers
- Continuous innovation in battery materials: The introduction of smart clothing is projected to drive innovations in flexible watch batteries. The increasing R&D investments are leading to the development of improved solid-state and lithium-ion cell batteries. The integration of flexible batteries with smart clothing materials is anticipated to boost the overall smartwatch battery market growth. The lightweight and effective rechargeable method is expected to fuel the application of flexible batteries in smartwatches. Flexible displays in smartwatches are emerging as high high-earning scope for battery manufacturers.
- Fitness enthusiasts fueling the demand for smartwatches: The health and wellness trends are one of the leading factors driving the sales of smartwatches and creating a profitable space for battery manufacturers. The techie individuals are the prime customer base of innovative wearables and positively contribute to the smartwatch battery market growth of smartwatch batteries. Over 225 million individuals globally were using smartwatches in 2024, and this number is likely to increase in the years ahead. Smartwatches’ ability to track health data is augmenting their sales growth. China, the U.K., and the U.S. are fueling sales of smart wearables, with the majority of brands such as Fitbit and Xiaomi. India is likely to hold a dominant share of the fitness tracker watches during the foreseeable period. The global smart wearables market size is estimated to be valued at USD 96.6 billion in 2025.
Challenges
- Conventional watches’ major challengers: Even though smart watch technologies are gaining traction across the world, the majority of developing economies prefer using conventional watches. The budget constraint and lack of knowledge are some of the primary reasons for the low adoption of smartwatches in the price-sensitive smartwatch battery markets. Resistance to change is also hampering the sales of smartwatches and, subsequently, their batteries. High production and pricing strategies are expected to uplift the sales of smartwatches and batteries in the years ahead.
- Limited battery performance: The low battery life is a major factor anticipated to lower the sales of smartwatch batteries in the coming years. The smartwatch is integrated with various complex technologies and sensors, which directly increases the power consumption, leading to limited battery life. Thus, the poor battery performance is challenging the revenue growth of the key smartwatch battery market players. Continuous R&D investments are likely to help companies overcome this issue.
Smartwatch Battery Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
21.6% |
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Base Year Market Size (2024) |
USD 979.6 million |
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Forecast Year Market Size (2037) |
USD 12.44 billion |
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Regional Scope |
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Smartwatch Battery Segmentation
Rated Voltage (3.7V, 4.2V, Others)
The 3.7V segment is expected to capture 55.1% of the smartwatch battery market share by 2037. The optimal energy and density, which reduces repetitive charging needs, are augmenting the sales of 3.7-volt smartwatch batteries. This is the standard voltage used in several wearable technologies, including smartwatches, backing the battery sales growth. Its ability to last longer cycles is also one of the prime reasons driving its applications in smartwatches. For instance, in October 2024, Guangzhou Ser Battery Technology Co., Ltd announced the launch of its new non-magnetic lithium polymer batteries with an operating voltage of 3.7V. Continuous innovations are likely to offer high performance and long life to 3.7V smartwatch batteries.
Application (Android System Smartwatch, IOS System Smartwatch, Windows System Smartwatch)
The Android system smartwatch segment is poised to hold 53.3% of the smartwatch battery market share during the assessed period. The main reason is the dominance of the Android system in smart display products, including wearables. The easy pairing with other devices is driving the sales of Android system smartwatches, and subsequently the battery trade. The cost-effectiveness is attracting a larger consumer base for Android products. The developing economies are expected to propel the sales of Android system smartwatches in the coming years. Overall, the wider consumer base and cost-effectiveness are augmenting the sales of Android system smartwatches.
Our in-depth analysis of the global smartwatch battery market includes the following segments:
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Battery Type |
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Rated Voltage |
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Application |
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Customize this ReportSmartwatch Battery Industry - Regional Scope
North America Market Forecast
The North America smartwatch battery market is projected to hold 36.7% of the global revenue share through 2037. The mature presence of innovative wearables and quick adoption of the latest technologies is creating a high-earning environment for smartwatch battery manufacturers. Collaboration strategies with smart textile producers are further expected to create new areas of profit generation. Both the U.S. and Canada are foreseen to offer lucrative gains to smartwatch battery producers in the years ahead.
The U.S. is dominating the sales of smartwatches owing to the strong presence of tech tech-savvy consumer base. Continuous technological innovations are leading to the introduction of advanced wearables with next-gen battery technologies. A constant upgradation trend is estimated to fuel the sales of innovative smartwatch battery materials in the country. Research Nester’s study highlights that the revenue generated from the sales of smartwatches is expected to amount to USD 10 billion in 2025. This positive growth is likely to augment the battery demand in the years ahead.
The individuals in Canada prefer adopting a smart home ecosystem, owing to the easy availability of appliances. This trend positively influences the smart wearables trade, opening lucrative doors to battery manufacturers. Innovations in wearable medical technologies such as fitness trackers are foreseen to propel the demand for next-gen batteries in the years ahead. The existence of key manufacturers is also contributing to the country’s dominance in the global landscape.
Asia Pacific Market Statistics
The Asia Pacific smartwatch battery market is forecast to expand at a robust pace from 2025 to 2037. The health and wellness trend is fueling the adoption of fitness tracker solutions in the region. The move towards digitalization is also boosting the popularity of smartwatches in Asia Pacific countries. The increasing entries of domestic players are leading to cost-effective availability of wearables, further augmenting the demand for advanced batteries. China, India, Japan, and South Korea are likely to lead the smartwatch battery market during the projected period.
China, being the manufacturing hub for smart wearable technologies, is poised to lead the innovative battery sales. The robust production and commercialization activities are booming the trade of innovative smartwatch batteries and offering lucrative gains to Chinese companies. The dominant presence of end users in the neighboring countries also contributes to the sales growth of smartwatch batteries. The easy availability of raw materials is driving the production and commercialization of smartwatch batteries in China.
The increasing advancements in medical devices are likely to drive the sales of fitness tracker batteries in India. The report by the India Brand Equity Foundation (IBEF) reveals that the country’s wearable device market registered a 53.3% YoY growth during the first half of the CY 2023. The introduction of smart textiles is also estimated to propel the demand for flexible batteries in the coming years. The same source also projects that between July and September 2023, the smartwatch market grew by 21% YoY. The boom in local manufacturing of smartwatches is likely to generate high-earning opportunities for battery producers.
Companies Dominating the Smartwatch Battery Market
- Apple Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Enovix Corporation
- Grepow Battery
- EVE Energy Co., Ltd
- Samsung SDI Co., Ltd.
- Renata Battery
- Tianjin Lishen Battery Joint-Stock Co., Ltd.
- BENZO Energy Technology Co., Ltd
- Dongguan Perfect Amperex Technology
- Guangzhou Fullriver Battery New Technology Co., Ltd.
- Shenzhen Topway New Energy Co., Ltd
The key players in the smartwatch battery market are employing several organic and inorganic strategies such as new product launches, technological innovations, mergers & acquisitions, partnerships & collaborations, and regional expansions to double their profit shares. The integration of advanced technologies and materials is anticipated to boost the efficiency of the smartwatch batteries and maximize the revenue of producers. Partnership with high-tech companies is aiding them in uplifting their product offerings. The majority of the companies are also expanding their operations in emerging economies to capitalize on untapped opportunities.
Some of the key players include:
In the News
- In September 2023, Apple Inc. announced the launch of its first-ever carbon-neutral products in the all-new Apple Watch lineup. This innovative move was made by Apple, focusing on its 2030 goal to make every product carbon-neutral.
- In May 2022, Enovix Corporation unveiled that it had cleared a key technology validation milestone and received an initial order for its high-energy-density smartwatch batteries. The company aims to seize opportunities across several categories in the years ahead.
Author Credits: Abhishek Verma
- Report ID: 7605
- Published Date: May 07, 2025
- Report Format: PDF, PPT
