Smartwatch Shipment Forecast by Brand Region, November 2024 Update
Overview:
Global smartwatch shipments fell 9% YoY in Q3 2024, marking the third consecutive quarter of YoY decline in global smartwatch shipments. HLOS smartwatch shipments remained nearly flat compared to the year-ago period. Among major brands in the HLOS smartwatch market, Apple was the only one to experience a YoY decline in shipments, offset by gains from Samsung, Huawei, Garmin, and others.
By region, a significant slowdown in the growth of India's once-booming local smartwatch brands along with a slight decline in other regions, except China and the Europe, contributed to the overall decline.
We expect the India market to decline by 25% annually for 2024. Limited innovation and dissatisfactory past experiences have led to longer replacement cycles. Furthermore, first time buyers who emphasize much more on looks and drove the growth in past few years are also declining
This Excel report provides the smartwatch shipment forecast by key brand and region until 2027 including its ASP.
Table of Contents:
• Definition of Smartwatch
• Key assumption
• Global Shipments and Value by Brand
• Regional Shipments and Value
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Author
Sujeong Lim
Sujeong Lim is a Research Analyst at Counterpoint Research based out of Seoul Korea. In Counterpoint, she focuses on mobile ICT industry and mobile device research, especially dedicated on the Korea mobile market. After 10+ years product marketing experience during her working period, she joined Counterpoint to pursue her interest in IoT and emerging future technology.
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