In brief: Global shipments of smartwatches dropped seven percent in 2024, marking the first annual decline for the wearables category. Apple maintained its position as the leading manufacturer, but shipped 19 percent fewer devices than it did a year earlier.
According to Counterpoint senior research analyst Anshika Jain, Apple Watch experienced a decline in its 10th year on the market thanks in part to minimal feature upgrades in the Series 10 lineup, the lack of an Ultra 3 model, and the fact that there hasn't been a new SE model introduced since 2022. Most assume Apple passed on an Ultra 3 due to price concerns; a third-gen Apple Watch SE is expected sometime this year.
Another contributing factor that slowed smartwatch shipments in 2024, Jain noted, was patent disputes. Earlier this week, Apple got an appeals court to side with it in a patent dispute against medical device maker AliveCor.
Apple captured 22 percent of the smartwatch market last year, followed by Huawei with a 13 percent share. Samsung was responsible for nine percent of all smartwatches shipped in 2024, Xiaomi grabbed eight percent, and Imoo nabbed six percent. All other manufacturers combined to make up the remaining 42 percent of the market.
Despite the slowdowns, smartwatches are gaining traction around the world. One in four models shipped last year went to China, which narrowly edged out India's 23 percent share for first place. North American trailed slightly with a 22 percent share, followed by Europe at 15 percent.
The data comes from Counterpoint's most recent smartwatch shipments tracker.
Research analyst Balbir Singh said the kids' smartwatch segment, which was the only category to experience growth last year, has been gaining traction as concerned parents are worried about their children's safety. A connected smartwatch, like those that Imoo specializes in, allows them to constantly track their location.
Given the success of kid-focused smartwatches, it's no surprise that other brands including Fitbit, boAt, and Noise are expanding their product lines to include devices for children.
Image credit: Daniel Romero
Apple Watch faces first major decline as smartwatch shipments drop 7%
