IoT Ecosystem > Wearables Blog

Smartwatch Revenues Grow... but Prices Will Decline

by Juha Winter | 8月 04, 2022

We expect global smartwatch revenues to grow +20% in 2022, rebounding after the Covid slowdown in 2020, but moderated by nagging inflation and recession worries as we head toward this year's Xmas holiday season.

Although smartwatch shipments will go up, prices will trend down throughout the 2020s due to crowded competition and spec commoditization. Annual revenue growth will thus slow to below +10% by 2024.

We find global smartwatch wholesale average selling price (ASP) peaked in 2020 and will tumble in all regions for the next several years.

Even so, as shipments and revenues continue to grow, there are significant opportunities in many major markets for smartwatch vendors to pursue. You can learn about these in more detail in our latest smartwatch forecast report.

Exhibit 1: Global Smartwatch Wholesale ASP Forecast by Region

Smartwatch ASP Development by Region, 2022-2027
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