Overview: The smartwatch market registered its first hiccup as shipments stagnated in Q1 2024, followed by its first decline in Q2 2024 which continued to persist in Q3 2024 despite expected growth amid festive promotions. Despite the overall market decline, high-priced smartwatches from established brands like Samsung and Apple experienced growth throughout the year. Apple’s smartwatch shipments are expected to double in 2024 compared to 2023, while those of Samsung are projected to grow 22% YoY during the same period.
Table of Contents:
- Introduction
- First Decline
- Shifting Brand Strategy
- Key Trends:
- Smaller Brands Exiting the Market
- New Partnerships
- Focus on Revenue Growth and Monetization
- Changing Channel Share Split
- Outlook
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Harshit Rastogi
Harshit Rastogi is an Analyst based out of Gurgaon, India. He closely tracks global handset market ecosystem and wearables. He has over 4 years of experience analysing trends and deriving strategic insights for key stakeholders.
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