According to the IDC, China has become the largest market for wrist-worn devices, with 45.8 million units shipped in the first three quarters of 2024, marking a 20.1% increase from the previous year and driving global growth. This market includes both smartwatches and wristbands, with global smartwatch shipments reaching 112.2 million units, a 3.8% drop from last year, while China saw a 23.3% jump to 32.9 million units. As for wristbands, 26.8 million units were shipped worldwide, up 12.7%, and China contributed 12.9 million, a 12.6% increase.
Huawei led in global wrist-worn device shipments, with strong growth year-over-year. In Q3, they launched new models like the GT5 and GT5 Pro smartwatches and the second-gen WATCH D2 blood pressure monitor, featuring the TruSense System for better health monitoring.
Apple’s Series 10 smartwatch briefly took the top spot globally in Q3, though it’s facing more competition from a broader range of smartwatch options. Xiaomi"s new Band 9 received positive market feedback, with upgrades in screen brightness, battery capacity, and sports health functions, significantly boosting Xiaomi"s overall wrist-worn market shipments.
Samsung"s 7th generation products, including the new Ultra model, filled gaps in the high-end smartwatch market, while the FE version increased shipments as an entry-level option. BBK, primarily dealing with kids" watch products, ranks first in China"s kids" watch market and is expanding into overseas emerging markets.
Looking ahead, China"s wrist-worn market is expected to ship 62.5 million units in 2025, a 3.2% increase year-over-year. Key trends include further improvements in health monitoring functions, diversification of online and offline channels, and enhanced personalization of accessories.
The IDC expects the wearable devices market to grow by 6.1% year-over-year in 2024, hitting 538 million units, but growth will slow to 3.9% in 2025 as markets like the U.S. and India start to level off.
Meanwhile, smartphones are set to see a 6.2% bump in 2024, reaching 1.24 billion units, thanks to pent-up demand after two years of decline. But Apple’s growth is expected to be modest, with iOS only growing by 0.4% as it faces challenges in key markets like China, the U.S., and Europe.