Overview: Global smartwatch shipments fell 9% YoY in Q4 2024, marking the fourth consecutive quarter of YoY decline in global smartwatch shipments. HLOS smartwatch shipments declined 4% 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 decline in NAM region contributed to the overall fall of the smartwatch market.
We expect the India market to slightly recover and suffer only a single digit in 2025. Due to intense competition and lower margins, fewer new entrants are expected to the market in 2025. OEMs are expected to focus more on higher price segments with more accurate sensors and features to gain the consumer demand.
This Excel report provides the smartwatch shipment forecast by key brand and region until 2027 including its ASP.
