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Growth Trends in Smart Wearables: Insights from Q3 2024
The wearable wrist technology sector, encompassing smart bands, basic smartwatches, and sophisticated smartwatches, experienced a slight increase of 3% in shipment numbers during the third quarter of 2024 compared to the same quarter in 2023. This equates to approximately 52.9 million devices dispatched globally.
Smart Bands Lead Growth in a Challenging Market
Among these categories, smart bands exhibited the strongest growth trajectory, soaring by 7% and resulting in shipments totaling 10.4 million units. Notably, this marks an end to what has been a downward trend since Q3 2020.
year-on-year growth at an astonishing rate of 70%.
Wearable Band Shipments Overview for Q3 2024
Vendor
Q3 Shipments (Million)
Market Share (%)
Q3 Last Year Shipments (Million)
No Change (%) Annual Growth
Apple
8.5
16.10%
8.9
-3.60%
Xiaomi
8.5
< 16 .10%6 .2 37 .30%
Huawei
>7 .1 >13 .50 %>5 .1 >38 .50 %
…
…
| Total | 52 .9 | 100 % | 51 .4| +2 .90 %|
Divergent Revenue Streams for Leaders in Wearables Market
An important distinction between Apple and Xiaomi lies not only in their unit sales but also in their revenue trajectories — while Apple accounts for about an astounding 40%
of total shipping value ($10.9 billion) witnessing an increase of ( text{%} from last year), Xiaomi’s revenue accounted for merely 4%. A shift towards lower-cost products by Xiaomi has contributed significantlyto Averydecrea¬sed Average Selling Price (ASP), which plummeted by ( text{%}), markingits lowest level since early (19)).}
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While both brands ship equal quantities，other sectors including traditional markets like North America face downturns—which are putting pressure even on Apple’s performance—affecting older model demands while Fitbit’s footprintcontinues shrinking subsequently。 Owners using advanced timepieces find less needto upgrade given that new offerings lack compelling enhancements.
Jack Leathem， Canalys Research Analyst不仅强调了…… 能种类商家对应度可能生长的机会，坚持看中配置设备错觉的效应。“Smartwatches account 为35％的发货量，但却占74％市场价值，这对厂商极具吸引和用户服从。”
To maintain competitiveness， vendors must keep investing heavily into innovative softwareand cutting-edge hardware features conducive导向按机智能化以适合竞争。 They may incorporate machine learning insights、dual-processor frameworks ，和进一步的发展睡眠追踪技术来确保其市场地位稳定。