Apple Dominates the Global Smartwatch Market in 2024

According to a Counterpoint report, global smartwatch shipments in 2024 decreased by 7% compared to 2023 (year-on-year/YoY). This is the first-ever decline in smartwatch shipments.

"This decline is primarily driven by reduced shipments from Apple, while the basic smartwatch segment experienced a slowdown in device upgrades," wrote Counterpoint in its report on Monday (March 10, 2025).

In 2024, Apple led global smartwatch shipments with a 22% market share. Despite holding the top spot, its shipment volume dropped by 19% (YoY).

"The main factor contributing to this decline is the North American market, where the absence of the Ultra 3 and minimal feature improvements in the S10 series led consumers to postpone purchases," said Anshika Jain, Senior Research Analyst at Counterpoint.

Furthermore, patent disputes and the lack of a new SE model also contributed to the decline.

Huawei ranked second with a 13% shipment share and 35% growth (YoY), followed by Samsung with a 9% share and 3% growth (YoY).

The South Korean manufacturer's growth was driven by its latest products: the Galaxy Watch 7, Galaxy Watch Ultra, and Galaxy Watch FE Series.

Xiaomi followed in the next position with an 8% smartwatch shipment share, surging 135% (YoY). This was the highest growth throughout the past year, marking Xiaomi's first entry into the top five ranking.

Imoo achieved a 6% share with 22% growth (YoY). Meanwhile, shipments from other smartwatch brands reached a 42% share and decreased by 22% (YoY).

David Naranjo, Associate Director at Counterpoint, stated that the global smartwatch market is expected to recover and grow by a single-digit percentage in 2025.

"Both Android and iOS smartwatches are expected to integrate more AI capabilities and advanced sensors to provide deeper insights into health data," said David.