Global Children's Smartwatch Market Update Growth and Key Players in 2024
TapTechNews September 13th news, the market research firm CounterpointResearch released a blog post yesterday (September 12th), reporting that the global children's smartwatch market increased by 4% year-on-year in the second quarter of 2024. Among all major smartwatch types, only children's smartwatches achieved positive year-on-year growth in this quarter.
By market
China leads the global children's smartwatch market with a 64% share, down 8 percentage points from 72% in the second quarter of 2023.
Thanks to the launch of Fitbit and the expansion of operators and other brands, the shipments of children's smartwatches in North America increased by 1.5 times.
US operators including Verizon, T-Mobile, and AT&T are expanding their children-friendly smartwatch product lines. Verizon launched the GizmoWatch3 in the first quarter of 2024, while T-Mobile and AT&T launched the SyncUPKIDSWatch2 and AT&TamiGOJr.Watch respectively in the second half of 2024.
By brand
In the global children's smartwatch market, in the second quarter of 2024, the top three brands together accounted for 62% of the market share, and this ratio decreased year-on-year due to the rise of many small brands. TapTechNews attached relevant pictures as follows:
Xiaotiancai
BBK Education Electronics Co., Ltd. launched a new learning mobile phone brand Xiaotiancai in 2016, and led with a 48% share in the second quarter of 2024.
Xiaotiancai achieved double-digit growth by expanding its product line in the price range of $100 to $200 and focusing on the Asia-Pacific region. In addition to its strong position in the Chinese market.
Huawei
Due to the strengthening layout of other brands in the high-end smartwatch field, the shipments of Huawei children's smartwatches decreased year-on-year, and the current market share is 11%.
Xiaomi
Xiaomi's market share in children's smartwatches is 4%.
Future forecast
According to Counterpoint's latest global smartwatch market forecast, the children's smartwatch segment is expected to grow by more than 7% this year, compared to a 4% decline in the overall market.
The growth of this children's segment will be driven by the strong performance of Chinese brands and the growth in the North American market, especially the entry of Fitbit and the new models of US operators and local manufacturers. In addition, Indian brands are enriching their product portfolios to attract new customer groups.