Kids Smartwatch Segment Grows in Q2 2024 to Buck Overall Trend
- China led the global kids smartwatch market with a 64% share, a drop from 72% in Q2 2023.
- North America’s shipments grew 1.5x owing to Fitbit’s launch and expansion by operators and other brands.
- Imoo led the segment globally with a 48% share, driven by a strong presence in China and Asia-Pacific.
- The kids smartwatch segment is expected to outperform the broader market in 2024 with 7% growth, compared to the overall market’s decline of 4%.
According to Counterpoint’s latest global smartwatch market forecast, the kids smartwatch segment is expected to grow by over 7% this year, compared to the overall market’s decline of 4%. This growth in the kids segment will be driven by the strong performance of Chinese brands and the North American market’s growth, particularly with Fitbit’s entry and new models from US operators and local players. Besides, Indian brands are diversifying their portfolios to attract new customer segments.
Source: Counterpoint Research
We believe that the kids smartwatch market is still untapped. As the use cases evolve, more opportunities will come up for other OEMs to enter this market with new models. A few of the most popular features in this segment include cellular connectivity, GPS support, camera, and educational and gaming apps. In terms of applications, security, emergency communication, and the compact form factor (which might serve as a substitute for smartphones for kids) will drive future growth. Payment is another area that brands can target to help parents foster healthy money-spending habits in their children. For instance, Google Pay recently partnered with GoHenry and Greenlight to have tap-and-pay features in next-generation Fitbit smartwatches.
*Types of smartwatches:
Advanced or HLOS smartwatch: Electronic watch running a high-level OS, such as Watch OS (Apple) and Wear OS (Samsung), with the ability to install third-party apps.
Basic smartwatch: Electronic watch running a lighter version of an OS, with no ability to install third-party apps.
Kids smartwatch: Electronic watch capable of either linking to a partner smartphone or independently accessing the internet over LAN, WAN or cellular connectivity, and designed to meet the needs and requirements of children, such as location tracking, health monitoring, voice or video communication, and gaming.
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Counterpoint Research is a global industry and market research firm providing market data, intelligence, thought leadership and consulting across the technology ecosystem. We advise a diverse range of global clients spanning the supply chain – from chipmakers, component suppliers, manufacturers and software and application developers to service providers, channel players and investors. Our veteran team of analysts serve these clients through our offices located across the key innovation hubs, manufacturing clusters and commercial centers globally. Our analysts consistently engage with C-suite through to strategy, market intelligence, supply chain, R&D, product management, marketing, sales and others across the organization. Counterpoint’s key coverage areas: AI, Automotive, Cloud, Connectivity, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks & Infra, Semiconductors, Smartphones and Wearables.