Counterpoint: global smartwatch market drops for the first time | Infinium-tech
Global Smartwatch Market experienced its first decline in 2024, falling 7% compared to the previous year. Apple retained its first place, but experienced a 19% deficiency in the shipment. Huawei finished second with a strong Chinese market and a 35% increase in shipments for a diverse portfolio, ranging from basic wear, children’s smartwatch and advanced offerings.
The Samsung Galaxy Watch 7 and the Galaxy Watch were third with a slight 3% increase in shipment thanks to the ultra lineup. Xiaomi’s 2024 smartwatch year was strong with a jump of 135% in annual shipment.
The main reason for the decline in the global market was the Indian market, where the first time a slow replacement cycle between buyers, lack of innovation and unsatisfactory user experiences reduced consumer demand.
On the other hand, the Chinese market was the largest global market for the first time. It increased from 6% year to year, which records its highest shipment. Huawei, IMO (BKK), and Xiaomi were at the forefront.
The increase in future smartwatches is expected to be cured in the market in 2025 on high heel shoes of AI integration and advanced health monitoring.
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