The global wrist-worn device market (smartwatches and wristbands) reached 139 million shipments during the first three quarters of 2024 as per the latest IDC report. The January – September period brought a 1% decline in shipments, which was due to market saturation across key markets, including the United States and India.
On the other hand, China was the leading market for wrist-worn wearables, with an estimated 45.8 million units: a 20% year-on-year increase. Smartwatches accounted for 32.9 million of those units – a 23.3% increase on the yearly basis.
Huawei was the leading brand in terms of global shipments during the Q1-Q3 period with 23.6 million units and a 16.9% market share. The brand’s GT5 series and Watch D2 proved popular with consumers across its key markets.
Apple came in second place with 22.5 million shipments and a 16.2% global market share. Cupertino saw a 12.8% decline in shipments compared to the same period last year. That was mainly due to fierce competition from competitors.
Xiaomi came in third place with 20.5 million shipments and a 14.7% market share, followed by Samsung with 11.5 million shipments (8.3% market share) and the BBK group (Oppo, vivo, OnePlus, Realme) with its 7.8 million units and 5.6% market share.
Looking ahead, IDC expects the Chinese wrist-worn market to jump to 3.2% YoY growth with 62.5 million shipments in 2025. IDC analysts predict a diversification of the online and offline sales channels, improved accuracy from health sensors and new personalization features.
Source
