Canalys: Global wearable device shipments to grow 4% in 2024

Canalys: Global wearable device shipments to grow 4% in 2024

According to Canalys, the global wearable device market achieved steady growth in 2024, with shipments reaching 193 million units, a year-on-year increase of 4%. This is the second consecutive year of expansion after the market adjustment in 2022, showing new momentum in the industry. The growth was mainly due to strong demand in China and emerging markets, offsetting the decline in mature regions such as the United States and India. Basic watches and basic bracelets played a key role in driving entry-level adoption, while competition among major manufacturers such as Apple, Xiaomi and Huawei intensified.

China leads global growth, surpassing India and the US

China remains the world’s largest wearables market, accounting for 30% of global shipments in 2024. China achieved 20% year-over-year growth, with 50% growth in the fourth quarter alone, as vendors took advantage of government subsidies, product enhancements, and strategic ecosystem integration.

Emerging markets drive shipments, as manufacturers target new consumers

The Middle East led global expansion, growing 55% year-over-year, followed by Southeast Asia (45%), Latin America (21%) and Central and Eastern Europe (20%). Much of the growth came from affordable, basic devices, with brands focusing on price accessibility and retail expansion to attract first-time buyers.

Basic watches continue to grow, while basic bracelets rebound

Basic watches remain the key driver of market growth, growing 8% in 2024, following strong growth of 25% in 2023. Huawei and Xiaomi together account for 41% of the market, and both companies are actively diversifying their product portfolios. The evolution of basic watches is no longer limited to incremental upgrades of entry-level bracelets, but is moving towards more business-oriented, advanced sports and medical devices, such as Xiaomi's Watch S series and Huawei's Watch D series.

Meanwhile, the basic wristband market rebounded after years of decline. Shipments resumed growth in Q3 (+7%), followed by a sharp acceleration in Q4 (+49%), driven primarily by Xiaomi (46%), Samsung (18%) and Huawei (17%). This recovery highlights the continued consumer demand for simple, lightweight and unobtrusive wearable devices, especially for health and fitness tracking. The growing popularity of smart rings suggests that consumer preference for minimalistic wearable solutions is increasing.

Samsung's re-entry into the basic fitness band market with the Galaxy Fit 3 fills a gap in its product line-up and intensifies competition.

<<:  Counterpoint: Global smartwatch shipments to drop 7% in 2024

>>:  Home care and protection for children infected with COVID-19

Recommend

What should women do if they have genital cysts?

Women who suffer from cervical cysts do not need ...

Uterine fibroids can be treated with minimally invasive surgery

Uterine fibroids are a very common gynecological ...

How does your belly feel when you're pregnant?

Many women don’t know much about pregnancy, and d...

What should I do if it hurts to go to the toilet after giving birth?

I was very weak after giving birth, so weak that ...

How can breasts be lifted up?

Breasts are one of the most important organs in a...

What are the reasons for women's back pain after sex?

Sexual life is an indispensable thing for couples...

Science in the Realm: The Human Brain Project

The brain is the command center of the entire bod...

What causes nipple pain after period?

Menstruation is very familiar to women, starting ...

What causes severe hair loss in girls?

The problem of hair loss may be seen in both men ...

How to remove hereditary freckles

Freckles are one of the most troubling problems f...

I am always tired. What’s wrong with my body?

In this fast-paced era, many people have this fee...