China Emerges as the Largest Market for Wrist-Worn Devices
Recent data from IDC reveals that China has solidified its position as the foremost market for wrist-worn electronics, with an impressive 45.8 million units shipped within the first three quarters of 2024. This marks a remarkable 20.1% increase compared to the previous year, serving as a substantial contributor to global market growth. The wrist-worn device segment spans both smartwatches and fitness bands, with worldwide smartwatch shipments totaling 112.2 million units—a decrease of 3.8% from last year. In contrast, China experienced a notable surge of 23.3%, bringing the number of units shipped to 32.9 million. Additionally, global shipments of wristbands reached 26.8 million units, reflecting a 12.7% growth, while China contributed 12.9 million units, up by 12.6%.
Leading Brands and Innovations
In the competitive landscape of wrist-worn devices, Huawei has emerged as a leader in global shipments, showcasing significant year-over-year growth. The company’s latest releases in Q3, including the GT5 and GT5 Pro smartwatches, along with the second-generation WATCH D2 blood pressure monitor, introduced the innovative TruSense System, enhancing health monitoring capabilities.
Apple’s Series 10 smartwatch briefly claimed the top spot in global sales during Q3, although it now faces intensified competition from an expanding array of smartwatches. Meanwhile, Xiaomi has received favorable reviews for its updated Band 9, which boasts improved screen brightness, enhanced battery life, and advanced sports health features, significantly bolstering Xiaomi’s market presence in the wrist-worn device sector.
Trends and Future Outlook
Samsung has also made significant strides with its seventh-generation smartwatch lineup, which includes the new Ultra model aimed at high-end buyers. The introduction of the FE version has further enhanced its capacity to penetrate the entry-level market. Additionally, BBK holds the leading position in China’s children’s smartwatch market and is exploring expansion into emerging overseas markets.
Looking ahead, forecasts suggest that China’s wrist-worn device market will ship approximately 62.5 million units by 2025, reflecting a modest 3.2% growth year-over-year. Expected trends include advancements in health monitoring technologies, greater diversification across online and offline retail channels, and the development of highly personalized accessories.
Global Wearable Market Insights
The IDC projects a 6.1% year-over-year growth for the global wearable device market in 2024, anticipating a total shipment of 538 million units. However, growth is expected to slow to 3.9% in 2025 as key markets such as the U.S. and India begin to plateau.
In parallel, smartphone shipments are expected to see a 6.2% increase in 2024, projecting to reach 1.24 billion units, driven by recovering demand following two years of decline. Nonetheless, Apple’s market expansion appears modest, with iOS projected to grow by only 0.4% amid challenges in significant markets like China, the U.S., and Europe.
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