Smartwatch 360

Smartwatch 360

360 degree perspective on global and regional smartwatch markets with tracking and forecast data and insights covering shipments. Data breakdowns by key regions and country, brand, model, watch type, wholesales/retail ASP, and device specifications; forecasts by brand, ASP and key regions. Monthly and quarterly Insight reports providing top level and granular context on key region and technology trends, competitive dynamics, launches and forecasts.

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Complimentary Report

The global HLOS smartwatch witnessed a 2% YoY decline in quarterly shipments. Under HLOS, Huawei, Garmin, and Xiaomi experienced a YoY increase of 78%, 30%, and 107% respectively. Apple declined 20% YoY and Samsung also had a 2% decline in shipment units. By region, China continued to drive the growth of the HLOS smartwatch market, fueled by the Huawei GT 4, GT 3 series, and Watch 4 series along with the good performance of Apple S9.

After steady and high YoY growth over the past four years, the smartwatch market has been showing some signs of slowing down since the late first half of 2022 due to macroeconomic and inflationary pressures. However, we still believe that there is enough room for more growth if market conditions become favorable.


This report compiles all our automotive-related press releases and blogs published during Q1 2024.  It provides you with data, insights and deeper look into what our analysts were thinking about during the quarter.
The global smartwatch market increased by 5% YoY. The expansion was mainly driven by Apple and Huawei, both introducing new models to boost their shipments. In contrast, Google observed a decline of 52% YoY, despite the launch of the Pixel 2 Watch. By region, India, LATAM, and China region shipments grew by 43%, 38%, and 24% respectively, compensating for declines in North America, Europe, and the rest of Asia. By type, basic smartwatches grew the most, 31% YoY, driven by Indian brands including Fire-Boltt, Noise, and boAt.
The market share of high-price and high-performance HLOS smartwatches stood at 59% in Q4 2023 driven by the good performance of Apple S9 and Ultra 2 along with the introduction of Galaxy Watch 6 and Huawei GT 4 in the second half of 2023. On the other hand, the market share of basic smartwatches increased to 31% from 25%, driven by rapid growth in the Indian market.

Reports /

Global smartwatch shipments increased 11% YoY in Q2 2023 after declining in both Q4 2022 and Q1 2023. India’s shipments soared by 70% YoY, serving as the primary driver for the global market’s rebound. China’s market also recorded a modest increase. Besides, a shift in the competitive landscape was evident as Huawei ascended to the second position in terms of global market share.

Reports /

Global smartwatch shipments increased 11% YoY in Q2 2023, after declining in both Q4 2022 and Q1 2023. India’s shipments soared by 70% YoY, serving as the primary driver for the global market’s rebound. HLOS smartwatch shipments increased YoY after dropping for two consecutive quarters. Within this high-price and high-performance segment, Huawei more than doubled its share to 15%, up from 6% in the year-ago quarter.

Reports /

The global smartwatch market increased by 11.1% YoY reaching 35 million of quarterly shipments. This is a turnaround in three quarters after experiencing a YoY decline in the previous two quarters. While Apple and Samsung saw YoY declines of 10% and 19% respectively, Huawei and India’s top two brands – Noise and Fire Boltt – recorded significant growth. By region, India led the overall global gains as it more than offset declines in North America, Europe and the rest of Asia.

Analysts Insights

Our Opinion Leaders in Wearables

Sujeong Lim

Associate Director

Anshika Jain

Senior Analyst

Prachir Singh

Senior Analyst

Our Opinion Leaders in Wearables

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