The smartwatch industry just hit a historic speed bump. After years of steady growth, global smartwatch shipments fell by 7% in 2024, marking the first decline the market has ever seen. According to Counterpoint Research, the downturn was largely driven by Apple’s weakening momentum, sluggish upgrade cycles, and a slowdown in the basic smartwatch category, particularly in India.
However, while the overall market shrank, China stepped up. For the first time, the country overtook North America and India to claim the largest share of global smartwatch shipments. The charge was led by homegrown giants Huawei, Xiaomi, and BBK’s Imoo, which capitalized on an increasingly engaged Chinese consumer base.
Apple Stumbles, China Rises
Apple, the longtime smartwatch king, held onto its throne, but not without bruises. Shipments of the Apple Watch plummeted 19% YoY, weighed down by lackluster upgrades in the Series 10 lineup and the surprising absence of an Ultra 3 model. Patent disputes also complicated things, curbing shipments in the first half of the year. In North America, where Apple is strongest, many consumers opted to sit this cycle out, waiting for more meaningful innovations.
Meanwhile, Samsung quietly gained ground, growing 3% YoY thanks to its expanded Galaxy Watch lineup, including the first-ever Galaxy Watch Ultra. Xiaomi made even bigger waves, becoming the fastest-growing smartwatch brand in 2024 and breaking into the top five global rankings for the first time. Its success was driven by an aggressive portfolio expansion, with models like the Watch S1 and Redmi Watch finding strong traction across multiple regions.
Kids’ Smartwatches Are Booming
While most smartwatch segments took a hit, one category bucked the trend: kids’ smartwatches. Brands like Imoo dominated the space, meeting the rising demand from parents who want an easy way to track and stay connected with their children. Even traditionally adult-focused brands like Noise, boAt, and Fitbit have started shifting focus to this growing segment.
Despite the market’s first-ever decline, the future isn’t all bleak. Analysts expect a slow recovery in 2025, with single-digit growth driven by AI-powered features and next-gen health sensors. Think smarter heart monitoring, sleep apnea detection, and even early diabetes warnings. But to stay relevant, brands will have to fight harder for regulatory approvals and push the boundaries of what a smartwatch can really do.
The smartwatch market isn’t dead—it’s just evolving.
If you’re looking for a new Wear OS smartwatch, be sure to check out our latest article on the 7 best Wear OS smartwatches of 2025.
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