Global Wearable Wristband Device Market to See 5% Growth in 2024

According to TapTechNews on June 24th, Canalys released a report stating that the shipment volume of the global wearable wristband device market this year will increase by 5% year-on-year, and the total will reach 194 million units.

Although the shipment volume in the first quarter of 2024 slightly decreased by 0.2%, thanks to the recovery of the smartwatch market, with a year-on-year increase of 4%, and the continued recovery of the basic watch (TapTechNews note: refers to the semi-smartwatch/non-full smartwatch with long battery life) segmented market, with a year-on-year increase as high as 10%, it is expected that the overall market will rebound before the end of the year.

Canalys research analyst said: Globally, the popularity of basic watches remains high. In the first quarter of 2024, its share in the wearable wristband device market reached the highest ever at 48%. It is expected that the shipment share for the whole year will reach 46%.

With the advancement of the user experience, tracking and intelligent functions of basic watches, more and more consumers are willing to choose these models that can meet most of the needs and are affordable at the same time. The battery life of basic watches is relatively long, which is an important factor attracting many users to buy.

Analysts also said that in the long run, the growth of basic watches is expected to be surpassed by the expansion of smartwatches. As the battery life of smartwatches improves and the cost competitiveness improves, this category will be more suitable for complex usage scenarios.

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