The worldwide smartwatch market skilled its first ever decline in 2024, falling by 7% in comparison with the earlier yr. Apple maintained its first place however skilled a big 19% discount in shipments. Huawei secured second place with a 35% surge in shipments because of a powerful Chinese language market and a various portfolio, starting from fundamental wearables, youngsters’ smartwatches, and superior choices.
Samsung was third with a modest 3% improve in shipments because of the Galaxy Watch7 and Galaxy Watch Extremely lineups. Xiaomi’s 2024 smartwatch yr was robust with a 135% bounce in yearly shipments.
The principle motive for the worldwide market decline was the Indian market, the place client demand diminished resulting from a gradual alternative cycle, lack of innovation, and unsatisfactory person experiences amongst first-time consumers.
However, the Chinese language market was the most important international marketplace for the primary time. It grew by 6% year-over-year, recording its highest ever shipments. Huawei, Imoo (previously BKK), and Xiaomi have been the frontrunners.
The market is anticipated to slowly recuperate in 2025 on the heels of elevated AI integration and superior well being monitoring in future smartwatches.
