As per Counterpoint Research’s newest Global Smartwatch Shipments Tracker This fall 2024 report, world gross sales of smartwatches have fallen for the primary time. The worldwide smartwatch shipments fell 7 % YoY in 2024 resulting from a decline in Apple’s shipments. Following previous tendencies, the Cupertino-based model retained its high place regardless of a 19 % YoY decline in shipments. The slowdown of the Apple Watch SE lineup and the dearth of recent SE fashions is claimed to have affected the sale.
Despite the general decline, Chinese manufacturers like Xiaomi, Huawei, and Imoo noticed a large rise in gross sales. Huawei got here in second with 35 YoY development, whereas Samsung grabbed the third place with a 3 % YoY development, pushed by the robust adoption of its Galaxy Watch 7, Galaxy Watch Ultra, and Galaxy Watch FE collection.
Counterpoint says Xiaomi skilled the quickest development final yr with 135 % YoY development and grabbed a spot among the many high 5 for the primary time. The development of Xiaomi was pushed by the robust efficiency of its Watch S1 and Redmi Watch collection. Imoo witnessed 22 % YoY development.
The report notes that the fundamental smartwatch section noticed decrease upgrades amid a slowdown. Weakness within the fundamental smartwatch market originated in India. The client demand dropped within the nation resulting from a gradual substitute cycle, lack of innovation, and unsatisfactory person experiences amongst first-time consumers. The world smartwatch cargo market share in India fell from 30 % in 2023 to 23 % in 2024.
China, however, recorded the very best ever shipments for the primary time and surpassed India and the North American areas. Huawei, Imoo and Xiaomi had been the entrance runners of the China market. The report additionally notes rising recognition of smartwatches for youngsters.
Market Expected to Slowly Recover in 2025
Counterpoint analysts see indicators of enchancment in wearable demand in 2025. “The smartwatch market is anticipated to get better slowly and witness single-digit proportion development in 2025. Both Android and iOS smartwatches are anticipated to combine extra AI capabilities and superior sensors to supply deeper insights into well being knowledge, mentioned David Naranjo, Associate Director, Counterpoint Research.
“For superior sensors, smartwatches are anticipated to include sensors for measuring bodily alerts comparable to severe coronary heart well being monitoring, specializing in atrial fibrillation, sleep apnea, hypertension, and diabetes. Brands will emphasise on getting regulatory approvals for his or her new smartwatch fashions and incorporating new well being options to maintain their place available in the market, he added.
