(MENAFN- GlobeNewsWire - Nasdaq) The smartwatch chips market is driven by the integration of advanced technologies like AI, IoT, and ML, enhancing functionality and connectivity in wearable devices.
Austin, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Market Size & Growth Analysis:
The SNS Insider report indicates that,“The Smartwatch Chips Market Size was valued at USD 1.50 Billion in 2023 and is expected to reach USD 3.69 Billion by 2032, growing at a CAGR of 10.54% over the forecast period 2024-2032.”
Smartwatch Chips Market Thrives on Rising Wearable Tech Adoption and Advanced Features
The smartwatch chips market has surged in recent years, driven by the growing popularity of wearable technology and advancements in semiconductor manufacturing. Smartwatches have evolved from basic fitness trackers to multifunctional devices offering health monitoring, communication, and mobile payment capabilities. Global adoption has reached 21.7% among adults, with the highest uptake among individuals aged 18-34 (31%) and women leading ownership at 24% compared to 19% for men. North America shows a 23% ownership rate, driven by Apple's brand loyalty, with 33% of users choosing its smartwatches. Notably, 58% of smartwatch owners prioritize health-related features, such as heart rate monitoring and sleep tracking.
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Dominant Market Players with their Products Listed in this Report are:
Qualcomm (Snapdragon Wear 4100, Snapdragon Wear 3100) Apple (S6 SiP, S7 SiP) Samsung (Exynos W920, Exynos 9110) MediaTek (MT2601, MT2523G) STMicroelectronics (STM32L4+ series, ST25DV series) Broadcom (BCM4343W, BCM4773) NXP Semiconductors (i.MX RT500, i.MX 7ULP) Texas Instruments (SimpleLink CC2640R2F, TMS320C5515) Intel (Intel Curie, Intel Quark SE C1000) HiSilicon (Huawei) (HiSilicon Kirin A1, HiSilicon LiteOS chip) Rockchip (RK2108, RK3308) Realtek (RTL8762C, RTL8763B) InvenSense (TDK) (ICM-20689, ICM-20948) Ambiq Micro (Apollo3 Blue, Apollo4) Dialog Semiconductor (Renesas) (DA14695, DA14585) Maxim Integrated (MAX77650, MAX86141) Cypress Semiconductor (Infineon) (CYW20719, CY8CMBR3116) Murata Electronics (LBES5PL2EL, LBEH5UE1CX) Synaptics (TD7850, TCM5124) Microchip Technology (SAMD21G18, PIC32MZ).
Advancements in Smartwatch Chips Drive Performance and Prolong Battery Life
Smartwatch chips are advanced semiconductors designed to ensure efficient performance, extended battery life, and superior connectivity. Equipped with features like GPS, Bluetooth, heart rate monitoring, and cellular connectivity, these chips handle multiple tasks simultaneously while optimizing power usage. Modern smartwatches now achieve an average battery life of 1 to 3 days, with high-end models like Garmin Fenix 7 lasting up to 14 days. Innovations like Qualcomm's Snapdragon Wear 4100+ chip offer enhanced performance with reduced power consumption. Additionally, intelligent power management systems, including low-power modes, enable prolonged usage, balancing performance and battery efficiency in compact wearable devices.
Smartwatch Chips Market Analysis by Type and Application: Dominance of 64-Bit and iOS Systems with Rapid Growth in 32-Bit and Android Segments
By Type
In 2023, the 64-bit segment led the smartwatch chips market with a 55% share, driven by demand for better performance, energy efficiency, and advanced functions. 64-bit architecture enhances multitasking and application speed by handling larger data volumes, exemplified by the Apple Watch Series 6 with its S6 chip, seamlessly integrating multiple health apps and functions.
32-bit segment is the fastest-growing, expected to see significant expansion from 2024 to 2032. These cost-effective chips, ideal for basic tasks like time management and health monitoring, are widely used in affordable smartwatches. Companies like Nordic Semiconductor offer solutions like the nRF52832 SoC, enabling efficient connectivity and sensor integration.
By Application
The iOS system smartwatch segment led the market in 2023, holding over 60% market share, driven by the Apple Watch's dominance. Its seamless integration with iPhones, advanced health tracking, and extensive app ecosystem attract a loyal customer base. Continuous upgrades like the Apple Watch Series 9 further boost sales and user satisfaction.
The Android smartwatch segment is the fastest-growing, driven by the popularity of cost-effective Android devices. Brands like Samsung and Fossil capitalize on this trend with diverse, fitness-friendly models compatible with Android phones.
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Key Market Segments :
By Type
By Application
Android System Smartwatch IOS System Smartwatch Windows System Smartwatch Others
North America Leads Smartwatch Chips Market as Asia-Pacific Emerges as the Fastest-Growing Region
North America dominated the smartwatch chips market in 2023 with a 40% share, fueled by advanced technology and strong consumer interest in wearables. Tech giants like Apple, Qualcomm, and Intel drive innovation, enhancing features like health monitoring, fitness tracking, and connectivity. The region's health-conscious population further boosts demand for advanced smartwatches.
Asia-Pacific is poised for the fastest growth during 2024-2032, driven by rising smartphone adoption and a growing middle class with disposable income. Key markets like China and India are embracing wearable tech for health and lifestyle management. Companies like Samsung and Huawei invest heavily in the region, offering feature-rich smartwatches with competitive pricing and broad consumer appeal.
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Recent Development
October 2024, Qualcomm VP Teases AI-Driven Snapdragon Wear Chip for Wear OS Watches in 2025 Qualcomm's VP of Wearables, Dino Bekis, revealed plans for a new Snapdragon Wear chipset slated for 2025, promising a "feature-focused" SoC with custom RISC-V or Oryon cores and AI integration. The new chip aims to bring a more PC-like approach to Wear OS devices, enhancing performance and efficiency for wearables. On August 19, 2024Apple Watch Series 10 to Feature Larger Displays and New Chip reports indicated that the Apple Watch Series 10, expected to launch alongside the iPhone 16 in September, will feature larger displays-ranging from 45mm to 49mm-and a thinner, sleeker design. Along with improved performance, the new series may also include upgraded health sensors for enhanced monitoring capabilities. On July 2024, Apple Watch Series 10 May Delay Key Health Features Due to Development Hurdles Apple's upcoming Apple Watch Series 10, possibly named Apple Watch X, could miss the launch of some key health features due to development challenges. While expected to feature larger displays and new chips, the health monitoring upgrades may be delayed.
T able o f Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Production Capacity (2023)
5.2 Sales Channel Analysis, (2023), by Region
5.3 Consumer Adoption Rates, by Region (2020-2032)
5.4 Average Selling Price (ASP), by region
5.5 Supply Chain Metrics
6. Competitive Landscape
7. Smartwatch Chips Market Segmentation, by Type
8. Smartwatch Chips Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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