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Smartwatch Shipment Forecast by Brand Region (2024 February Update)

Overview:

Global smartwatch shipments reached 43.3 million units, marking a 5% year-on-year increase in Q4 2023, and moderate growth of 5.8% was achieved on an annual basis.

By smartwatch device types, HLOS smartwatch shipments experienced a 6% year-on-year decrease, whereas Basic smartwatch saw a notable 31% year-on-year increase. This trend appears to be linked to the rise in the proportion of Basic smartwatch shipments, particularly in India and LATAM, which significantly contributed to the overall year-on-year growth in global smartwatch shipments during the fourth quarter of 2023.

By region, NAM recorded a 10% negative growth, with dominant OEMs such as Apple and Samsung underperforming. In addition, Europe and AP Others regions each showed slow performance compared to the previous year due to geographical risks and exchange rate hike.

On the other hand, the Indian market, driven by aggressive shipments from local brands, still recorded high YoY growth annually, but the growth rate is slowing. China also showed annual growth of 3% in 2023 due to strong shipments from Huawei and Imoo.

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

Published Date: February 2024

Fire-Boltt Vendor Profile

Overview:  

Fire-Boltt, one of India’s largest smartwatch brands has led the India Smartwatch Market multiple times and captured 27.6% share in Q2 2023. The brand has the largest offline presence among its peers and is registering high growth since its entry in late 2020. In this report we focus on its origins, trajectory so far, its strategy along with financial details. This report also covers its notable achievements, global expansion and outlook. 

Table of contents:

    • Key Takeaways
    • Company Overview
    • Timeline & Key Milestones
    • Fire-Boltt – At a Glance
      • Product Lines and Key Products 
      • Fire-Boltt Smartwatch Product Portfolio
    • Segment Performance
      • Revenue Growth 
      • Shipment Breakdown by Segment 
      • ASP Trend by Segment 
      • Best-Selling Models for Smartwatch 
      • Channel Distribution Analysis

Number of Pages: 26 

Published Date: 9th October 2023 

India Smart Ring Shipments 2023-2024

Overview:

The demand for the smart ring wearable will balloon to $25 million in sales next year. The market has seen a flurry of launches in the second half of this year and is expected to pick up in the upcoming holiday season. The Smart Ring shipment volume is estimated to double (2x) in 2024 compared to 2023. Durability, superior build quality, accurate sensors, convenient form factor, and longer battery life will stimulate consumer demand as an alternative to smartwatches. This report analyses the Smart Ring Market in India in terms of value and volume by brand and model for the years 2023 and 2024 along with key insights and assumptions.

Table of Contents:

  • India Smart Ring Shipments by Brand (2023 -2024)
  • India Smart Ring ASP by Brand (2023 -2024)
  • India Smart Ring Retail Value by Brand (2023 -2024)
  • Key Insights and Assumptions

Published Date: September 2023

Author: Anshika Jain and Harshit Rastogi

boAt Vendor Profile

Overview:

boAt was the largest TWS brand in the Indian market with a 40% share in Q2 2023. The brand is gradually taking steps to increase its presence in the smartwatch category. In this report, we deep dive into boAt’s business strategy, market & channel performance by shipments & ASP, along with revenue analysis for its key product segments. Additionally, this report includes the company’s notable milestones, partnerships over the years, key strategies, and celebrity endorsements.

Table of Contents:

  • Key Takeaways
  • boAt – At a Glance
    • boAt Overview
    • Timeline & Key Milestones
    • Product Lines and Key Products
    • TWS Product Portfolio Analysis
    • Smartwatch Product Portfolio Analysis
  • Segment Performance
    • Revenue Breakdown by Segment
    • Shipment Breakdown by Segment
    • ASP Trend by Segment
    • Best-Selling Models by Segment
    • Channel Distribution Analysis
  • SWOT Analysis
  • Competitive Strategies
    • Business Strategies
    • Promotional Strategies
    • Key Partnerships
  • Forecast by Segment

Number of Pages: 28

Published Date: September 2023

Noise Vendor Profile

Overview: 

Noise (Nexxbase Marketing) was the largest smartwatch brand in the Indian market with 28.5% share in Q2 2023. The brand is gradually taking steps to increase its presence in the TWS category with 7% market share in Q2 2023. In this report, we deep dive into Noise’s business strategy, market & channel performance by shipments & ASP, along with revenue & profit analysis for it’s key product segments. Additionally, this report includes company’s notable milestones, partnerships over the years, importance of company’s affiliate program and key celebrity endorsements.

Table of contents:

  • Key Takeaways
  • Company Overview
  • Timeline & Key Milestones
  • Noise – At a Glance
    • Company Overview
    • Product Lines and Key Products
    • Noise TWS Product Portfolio
    • Noise Neckband Product Portfolio
    • Noise Smartwatch Product Portfolio
  • Segment Performance
    • Revenue Breakdown and Profit
    • Shipment Breakdown by Segment
    • ASP Trend by Segment
    • Best-Selling Models by Segment
    • Channel Distribution Analysis
  • SWOT Analysis
  • Competitive Strategies
    • Business Strategies
    • Present vs Future Strategy
    • Marketing & Advertising Strategies
    • Celebrity Endorsements by Noise
    • Affiliate program
    • Key Partnerships
  • Forecast by Segment

Number of Pages: 30

Published Date: September 2023

Related Posts

Global Quarterly eSIM Devices Shipment Tracker (Q2 2023)

Overview:

The number of eSIM supported devices is growing rapidly. This report captures the number of eSIM supported devices shipped globally. This report covers 3 device categories – Smartphones, Smartwatches, and IoT Modules. The report further includes the top 5 brands who are shipping eSIM supported devices. The IoT category also includes bifurcation between eSIM and iSIM form factors, The report also covers the top 5 application areas for eSIM and iSIM supported modules.

 

Table of Contents:

1. eSIM Supported Devices – Category View

1.1 Total Devices Shipments TAM (In Millions of Units)

1.2 eSIM Capable Devices Shipments TAM (In Millions of Units)

1.3 eSIM Capable Devices Shipments Penetration of Total (%)

 

2. Device Category – Smartphones

2.1 eSIM supported Smartphone Shipment by Brand (Mn.)

2.2 eSIM supported Smartphone Market Share (%)

 

3. Device Category – Smartwatches

3.1 eSIM Supported Smartwatches Shipments by Brand (Mn.)

3.2 eSIM Supported Smartwatches Market Share (%)

 

4. Device Category – IoT

4.1 eSIM supported IoT Modules – Shipment by Brand (Mn.)

4.2 eSIM supported IoT Modules – Market Share by Brand (%)

4.3 eSIM supported IoT Modules – Shipment by Application (Mn.)

4.4 eSIM supported IoT Modules – Market Share by Application (%)

4.5 iSIM supported IoT Modules – Shipment by Application (Mn.)

4.6 iSIM supported IoT Modules – Market Share by Application (%)

 

Published Date: September 2023

Smartwatch Shipment Forecast by Brand Region (2023August Update)

Overview:

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.

We began to detect market movements for weakening smartwatch demand outside of India from Q2 2022. We think this is a temporary situation due to weakening consumer sentiment caused by global macro headwinds and higher exchange rate, and OEM clearing its inventories in the market. We expected that these unfavorable market conditions would continue until the first half of 2023, but it succeeded in rebounding with YoY growth starting in the second quarter, showing an earlier recovery than expected. So from 2024, we expect the market will see the steady YoY growth with strong potential in China, rest of Aisa, and emerging markets.

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

Published Date: August 2023

Global Smartwatch Market Analysis Q2 2023

Overview:

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. Basic smartwatches accounted for 39% of the total smartwatch shipments, marking an all-time high. This budget-friendly segment has been witnessing YoY growth for 10 straight quarters, deeply intertwined with the explosive growth of the Indian market

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 Shipments vs Revenue
  • Market Intelligence Tracker

Number of Pages: 26

Published Date: August 2023

Global Smart Devices Shipments Tracker, 2021 Q1 – 2023 Q2

Overview:

This Global Smart Devices market tracker comprises all Wi-Fi-enabled devices used in smart homes along with smart wearables. The overall smart device shipments declined 6% YoY in Q2 2023. The decline was attributed to a decline in markets like Consumer Routers, Set Top Boxes, Laptops, Tablets, Smart Speakers and Smartwatches market. Out of the total segments, over 50% of the market was taken by Set Top Boxes, Consumer Routers, Laptop, Smart TV and Smart Lights. In this report, we have analyzed the smart devices market in detail by segments covering quarterly shipments by brand from Q1 2021 to Q2 2023 along with the key reasons and drivers for growth.

Table of Contents:

  • Definitions
  • Methodology
  • Key Market Drivers by Segment
  • Smart Devices Shipments by Brand (2021 Q1 – 2023 Q2)
    • Cellular CPEs
    • Consumer Routers
    • Enterprise Routers
    • Gaming Consoles
    • Laptops
    • Mesh Wi-Fi
    • Mi-Fi
    • Printers
    • Set-Top Box
    • Smart Speakers
    • Smart TV
    • Smartwatch
    • Streaming Sticks
    • Tablet
    • XR
  • Smart Devices Shipment TAM (2021 Q1 – 2023 Q2)
    • IoT Modules
    • Media Controllers
    • Remote Hubs
    • Security Camera
    • Smart Appliance
    • Smart Kitchen
    • Smart Laundry
    • Smart Light
    • Thermostats
    • Universal Remotes
    • Vehicles
    • Others

Published Date: August 2023

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