In 2024, global smartwatch shipments experienced a 7% year-over-year decline, marking the first contraction in the market's history.
Regional Dynamics
- North America: The region faced a significant downturn, attributed to minimal feature upgrades in new smartwatch models, leading to reduced consumer interest.
- China: Conversely, China recorded its highest-ever smartwatch shipments, surpassing North America and India. This surge was driven by brands like Huawei, Imoo, and Xiaomi, offering a diverse range from basic to advanced smartwatches, aligning with local consumer preferences.
Market Outlook
Analysts anticipate a rebound in 2025, as manufacturers plan to introduce innovative health and fitness features in upcoming models. For instance, Samsung is reportedly developing non-invasive blood glucose monitoring technology for its future smartwatches, which could significantly boost consumer interest and sales.
This recent downturn underscores the importance of continuous innovation and understanding regional market dynamics to sustain growth in the competitive smartwatch industry.