Middle East and Africa Smartwatch Market Size

MEA Smartwatch Market Analysis

The Middle East and Africa Smartwatch Market size is estimated at USD 1.62 billion in 2024, and is expected to reach USD 2.87 billion by 2029, growing at a CAGR of 12.17% during the forecast period (2024-2029).

Owing to the rising penetration rates of urbanization, the demand for aesthetically appealing advanced products that can better serve the consumers' requirements, such as time schedules and multiple features in one device, has been driving the demand for smartwatches.

• Moreover, the enormous millennial population in the region has been adopting smartwatches due to the increased spending for their regular work hours tracking and luxury standards.
• With the number of connected wearable devices in the Middle East & Africa expected to reach 46 million by this year (according to Cisco), the region's wearables market is in the midst of a significant transformation. The market is witnessing a transition from fitness bands to smart wearables like watches.
• South Africa is expected to be the next big market for smartwatches. The adoption level of wearable technology needs to improve in South African households. However, this will likely increase as the technology becomes more widespread and affordable. According to Samsung Enterprise Mobility, smartwatches and other wearables may soon move from consumer devices to valuable enterprise tools. South African CIOs are preparing to manage and secure the wave of new enterprise technologies. They are anticipated to provide massive opportunities for vendors in the forecast period.
• Moreover, the senior population suffering from numerous diseases is creating a shift in-home care toward a more precision-based personal care model. For instance, the Middle Eastern population is aging rapidly. As aging is one of the primary risk factors for cancer, the incidence and prevalence of that disease are growing among all the people in the region. According to the UN figures, it is predicted that the MENA population will increase from 443 million to 654 million by 2050. It is expected that almost 18 million people over the age of 60 will live in the GCC by 2050, representing 25% of the total population and a significant increase in the current number.
• The region's aging population may require constant monitoring, thus, driving the demand for new smartwatches for health tracking purposes during the forecast period. The region is witnessing demand for smartwatches for healthcare purposes. Numerous new use cases are gaining traction, and users are increasingly able to see the health and fitness benefits that wearables can provide.
• The recent outbreak of COVID-19 across the region has affected various significant industries. The shutdowns of production plants have greatly affected the electronics industry. However, sales of wearables are expected to improve with a greater adoption rate in the post-COVID-19 period.