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Counterpoint Quarterly: Wearables Q1 2024

Overview:

This report compiles all our Wearables-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.

Table of Contents:

  • Global XR (AR & VR Headsets) Market Share: Quarterly
  • OnePlus Watch 2: Big Upgrades, Competitive Pricing
  • Apple’s XR Investment Is An Insurance Policy
  • Sony WF-1000XM5 Review: Epitome of Premium Sound with Compact, Lighter Design and Improved Battery Life
  • XREAL Air 2 Pro First Impressions: Promising Entry-level XR Glasses
  • India Smartwatch Market Sees Record Shipments in 2023 With 50% YoY Growth
  • XR Gets Apple Vision Pro Boost, Market Set to Bounce Back in 2024

Number of Pages: 26

Published Date: May 2024

Global Smartwatch Shipments by Model Quarterly Tracker, Q1 2018-Q4 2023

Overview:

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.

Published Date: February 2024

Global Smartwatch Quarterly Model Tracker, Q1 2018-Q4 2023

Overview:

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.

Published Date: February 2024

Express Report – Global Monthly Smartwatch Sell Through: January 2024

Overview:
The global smartwatch market in January declined slightly compared to the previous month but grew by 1% compared to the same period last year. Except for China, US and India all contracted compared to the previous month, but China grew compared to the previous month thanks to the promotion of e-commerce platforms.

In this report, we provide preliminary version sales by Apple Watch model and brand-level monthly sales for Samsung, Huawei, Noise, and Fire-Boltt.

Published Date: February 2024

Global Monthly Smartwatch Tracker 2023 December

Overview:

The global smartwatch market in December declined slightly compared to the previous month, but grew by 11% compared to the same period last year. Although growth occurred in both the major markets of the United States and China, the YoY growth in the Indian market was particularly notable.

The US market showed a slight MoM increase (almost flat) due to the end-of-year/Christmas season, and Apple recorded similar performance to the previous month by providing promotions using discounts and trade-in through multiple channels.

In this report, we provide smartwatch sell-through by model for the global top 5 brands – Apple, Samsung, Huawei, Noise and Fire-Boltt – divided into US, China, India, and Rest of World.

Published Date: January 2024

Express Report – Global Monthly Smartwatch Sell-Through December 2023

Overview:

The global smartwatch market in December declined slightly compared to the previous month, but grew by 11% compared to the same period last year. Although growth occurred in both the major markets of the United States and China, the YoY growth in the Indian market was particularly notable.

The US market showed a slight MoM increase (almost flat) due to the end-of-year/Christmas season, and Apple recorded similar performance to the previous month by providing promotions using discounts and trade-in through multiple channels.

In this report, we provide preliminary version sales by Apple Watch model and brand-level monthly sales for Samsung, Huawei, Noise, and Fire-Boltt.

Published Date: January 2024

Smartwatch Shipment Forecast by Brand Region (2023November Update)

Overview:

Global smartwatch shipments experienced a 9% YoY increase in Q3 2023, building on the gains from the previous quarter. The growth in the quarter seems to be primarily driven by the surge of the Indian market which has been consistently expanding, the Chinese market boosted by Huawei’s robust performance, and Apple’s new launch of Series 9 and Ultra 2.

By region, NAM is expected to perform weakly in 2023 with Apple’s sluggish performance, while China is expected to manage flat growth due to active volume push by OEMs such as Huawei and imoo supported by re-opening in China. Despite some inventory accumulation in the market, Indian OEMs are still aggressive in smartwatch shipments, which is expected to continue the high annual growth of the Indian market in 2023. The European market, which was affected by the Ukraine war, will still need more time to turn to growth, and demand from LATAM and MEA is expected to rebound from 2023.

This Excel report provides the smartwatch shipment forecast by key brand and region until 2026 including its ASP.

Published Date: November 2023

Global HLOS Smartwatch Shipment Forecast (2023 November update)

Overview:

The global smartwatch market has been witnessing sluggish growth since late 2022 due to macroeconomic headwinds and geopolitical conflicts. Meanwhile, the aggressive product shipments of Indian local brands such as Fire Boltt and Noise, based on young demand groups, provided impetus for the overall market to continue to grow. However, at the same time, this also resulted in a decrease in the proportion of High-level OS (HLOS) smartwatches.
Nevertheless, Counterpoint expects the share of HLOS-powered smartwatches, which can support the advanced features such as better health monitoring, deliberate fitness tracking, and 3rd party app supporting to grow steadily in future.
This Excel report provides shipment forecast for smartwatches running High Level OS by brand and OS until 2027.

Published Date: November 2023

Global Smartwatch Market Analysis Q3 2023

Overview:

Global smartwatch shipments increased 9% YoY in Q3 2023, building on the gains from the previous quarter. The Q3 2023 growth was primarily driven by the surge in the Indian market, which has been consistently expanding, and the Chinese market, boosted by Huawei’s robust performance. Samsung and Apple launched new products in Q3 2023 which helped the HLOS smartwatch market grow 23% QoQ during the quarter, with a notable 9% YoY expansion driven by Huawei’s impressive performance. The dominance of HLOS smartwatches is evident in all regions except India. On the other hand, with the robust growth in the Indian market, the Basic Smartwatch market also experienced a significant 16% YoY expansion.

Table of Contents:

  • Smartwatch Shipments Trends
    • By Device Type
    • By OEM
    • By Region
    • By Price Band
  • Smartwatch Spec Analysis
    • Operating System
    • Chipset
    • Display Type
  • Major OEM Trends
    • Apple
    • Samsung
  • Market Intelligence Tracker

Number of Pages: 26

Published Date: November 2023

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