Tracker: Smartwatch Vendor Market Share by Region: 2024 Q1
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Global smartwatch shipments, while stabilizing to a just 1.5% YoY decline, have fallen for the sixth consecutive quarter during Q1 2024, after Q4 2022 marked the first YoY decline since 2016 as the smartwatch space begins to mature and consumers reign in discretionary spending causing a lengthening replacement cycle amid macroeconomic weakness and geopolitical uncertainty. During Q1 Apple, Fitbit, and Samsung saw declining volumes, while Garmin, Huawei, and Google posted strong growth. Chinese brands such as OPPO and Xiaomi also grew due to embracing Wear OS. Our report tracks regional smartwatch shipments and market share for leading vendors by quarter from 2013 to Q1 2024. It can be used by device makers, component suppliers, operators, developers, content suppliers and others to determine the size and growth rate of the global smartwatch market.
