World smartwatch shipments declined 7 % year-on-year (YoY) in 2024, in response to a brand new report by market analysis agency Counterpoint. Apple continued to carry the highest place in worldwide smartwatch shipments, adopted by Huawei and Samsung in second and third locations, respectively. The South Korean model registered three % YoY progress in shipments, due to the newest Galaxy Watch lineups. Chinese language tech model Xiaomi marked the quickest progress in 2024 and secured a spot among the many prime 5 for the primary time. Imoo additionally witnessed a commendable rise in gross sales.
As per Counterpoint Analysis’s newest World Smartwatch Shipments Tracker This autumn 2024 report, international gross sales of smartwatches have fallen for the primary time. The worldwide smartwatch shipments fell 7 % YoY in 2024 as a consequence of a decline in Apple’s shipments. Following previous tendencies, the Cupertino-based model retained its prime 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 alleged to have affected the sale.
Regardless of the general decline, Chinese language manufacturers like Xiaomi, Huawei, and Imoo noticed a large rise in gross sales. Huawei got here in second with 35 YoY progress, whereas Samsung grabbed the third place with a three % YoY progress, pushed by the sturdy adoption of its Galaxy Watch 7, Galaxy Watch Extremely, and Galaxy Watch FE sequence.
Counterpoint says Xiaomi skilled the quickest progress final yr with 135 % YoY progress and grabbed a spot among the many prime 5 for the primary time. The expansion of Xiaomi was pushed by the sturdy efficiency of its Watch S1 and Redmi Watch sequence. Imoo witnessed 22 % YoY progress.
The report notes that the essential smartwatch phase noticed decrease upgrades amid a slowdown. Weak point within the fundamental smartwatch market originated in India. The patron demand dropped within the nation as a consequence of a sluggish alternative cycle, lack of innovation, and unsatisfactory consumer experiences amongst first-time patrons. The worldwide smartwatch cargo market share in India fell from 30 % in 2023 to 23 % in 2024.
China, then again, recorded the 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 reputation of smartwatches for youngsters.
Market Anticipated to Slowly Get better in 2025
Counterpoint analysts see indicators of enchancment in wearable demand in 2025. “The smartwatch market is predicted to get well slowly and witness single-digit share progress in 2025. Each Android and iOS smartwatches are anticipated to combine extra AI capabilities and superior sensors to offer deeper insights into well being knowledge, mentioned David Naranjo, Affiliate Director, Counterpoint Analysis.
“For superior sensors, smartwatches are anticipated to include sensors for measuring bodily indicators comparable to severe coronary heart well being monitoring, specializing in atrial fibrillation, sleep apnea, hypertension, and diabetes. Manufacturers will emphasise on getting regulatory approvals for his or her new smartwatch fashions and incorporating new well being options to maintain their place out there, he added.
