The global smartwatch market has shrunk by 7% in 2024, marking the first time the market has experienced a decline. Counterpoint Research estimates that this downturn is largely due to a disappointing Apple Watch Series 10 and the missing launch of the long-awaited Apple Watch Ultra 3.
According to Counterpoint, 25% of smartwatches shipped in 2023 were Apple Watches, but that share decreased to 22% last year. While Samsung and Huawei saw reported growth, Apple’s decline was significant enough to shrink the market as a whole. The North American market, in particular, was affected by the missing Ultra 3 launch, which many had been eagerly anticipating.
However, experts are cautiously optimistic about 2025. Apple plans to unveil three new models, including the redesigned Apple Watch SE 3 and the highly anticipated Apple Watch Ultra 3, both of which are expected to feature advanced health monitoring capabilities. The Apple Watch Series 11 will also include high blood pressure detection, further solidifying its position in the market.
While the current figures may not be entirely accurate due to limitations in data, they do suggest a significant downturn for Apple in 2024. Nevertheless, the upcoming releases are expected to boost investor confidence and revitalize the smartwatch market.
Source: https://www.techradar.com/health-fitness/smartwatches/new-figures-claim-the-smartwatch-market-just-shrunk-for-the-first-time-ever-and-the-apple-watch-ultra-3-is-to-blame