Europe Smartwatch Market

Europe Smartwatch Market Size (2023 to 2028)

The market size for smartwatches in Europe is estimated to be worth USD 45.16 billion by 2028 from USD 20.24 billion in 2023, growing at a CAGR of 17.41% from 2023 to 2028.

The adoption of smartwatches is growing aggressively in the European region owing to the increased number of fitness apps in Europe and raising fitness awareness. Health & Fitness apps show a significant increase in Europe. Nearly 50 percent of people use these fitness apps to stay healthy and fit in Europe. Sensor Tower Store Intelligence data shows that usage of Health & fitness apps usage in Europe has increased to 300 million in 2022. Expanding the use of this fitness app in smartwatches also drives the Europe smartwatch market forward. Smartwatches monitor steps, heart rate, sleep habits, and physical activity. If a patient uses this smartwatch, they can share this information with the doctor for personalized treatment to improve their well-being.

Due to the growing technological advancements, people can do a lot with smartwatches and possibly track health parameters such as blood pressure, clarion counter, oxygen levels, etc. These smartwatches also locate a smartphone, car keys, and other valuable gadgets. It is also used to receive phone calls, notifications, and music. The benefits mentioned above further promote the usage of smartwatches.

Increasing healthcare awareness among people is another key factor propelling the Europe smartwatch market. Most Europeans are concerned about their health by spending money on wearable medical devices to keep track of their health. In addition, due to the increased virus spread, more people are motivated to be fit to reduce the chance of getting infected. For this reason, most adopt going to the gym, walking, dieting, and doing other exercises. Most phones have fitness apps, but carrying mobile everywhere is not easy, so many people are adopting smartwatches that link the data to their phone or any other device to know the complete information they require about their time spent on exercise.

Using IoT and advanced features for a video conference in a smartwatch is favoring the market growth. Most patients who use this smartwatch have their medication on time without missing it; smartwatches help to give alerts or notifications to take the respective medicines in time. This also alerts the patient cares whether they take medication on time or not. This smartwatch is also used by the players to know the data and send data to the coach on how to improve their game to reach their goals.

On the other hand, the high costs associated with smartwatches hamper the market growth in the European market. The other factors that impede the market growth are eye strain due to the small screen, less battery life, internet connection issues, radiation, and storage issues. Data privacy issues in storing the information and sending it to the other person also hamper the market growth.

This research report on the European smartwatch market has been segmented and sub-segmented into the following categories.

By Product Type:

• Extension
• Standalone
• Classic

By Application:

• Personal Assistance
• Sports
• Medical
• Others

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, Europe accounted for the second largest global market share in 2022. In this region, Germany and United Kingdom are currently dominating. In Germany, the population aged above 65 was 22 percent in 2022. Older people are more prone to chronic diseases; they need healthcare monitoring devices to stay healthy. Wearable technologies such as smartwatches help give their family members and caregivers peace of mind. In addition, the older population used these smartwatches to provide emergency alerts to the near ones.

In the United Kingdom, fitness brands such as Strava, Komoot, AllTrails, Nike Run Club, Garmin, and Fitbit have increased advertising on Facebook and mobile ads. Furthermore, in 2022, the UK found the use of smartwatches as a new way of monitoring people by uploading pictures of faces five times a day. In addition, it helps by providing peace of mind by enabling people to live independently in their homes for longer. Considering all these above factors, the market has driven in this region.

KEY MARKET PLAYERS:

Apple Inc., Google Inc., Garmin, Fitbit, Motorola, Sony Corporation, Samsung Electronics, LG Electronics, and Huawei Technologies Co. Ltd are some of the key players operating in the European smartwatch market.