Global advanced smartwatch market likely to see 15 pc annual growth in 2024: Report

The global High-Level Operating System (or advanced) smartwatch market is expected to witness 15 per cent annual growth in 2024, a new report said on Monday.

According to Counterpoint Research, the major part of this growth will come from non-Apple smartphone users adopting either a Google Wear OS-based smartwatch if outside China or a Huawei HarmonyOS-based smartwatch if in China.

The analysts estimated that the Google Wear OS share outside China will climb to 27 per cent in 2024 in the advanced smartwatch segment.

The growth will be primarily driven by the availability of more advanced smartwatches powered by Wear OS, like the latest adoption by Google Pixel and OnePlus Watch 2, along with the refreshed Samsung Galaxy Watch 6 series.

“We expect greater adoption of Google’s Android Wear (Wear OS) since these devices provide a robust third-party app experience, Google AI assistant, and precise health tracking, customisation and battery optimisation,” said Senior Research Analyst Anshika Jain.

In addition to Wear OS, the analysts are witnessing the growth of HarmonyOS powered by the increasing popularity of Huawei smartwatches in China.

“In 2023, the overall HarmonyOS shipments grew almost 2x, surpassing Apple’s WatchOS. HarmonyOS’ shipment share is further estimated to reach 61 per cent in China in 2024, up from 48 per cent in 2023,” said Associate Director Ethan Qi.

In terms of smartwatch chipsets, the report mentioned that Apple and Samsung currently hold two-thirds of the advanced smartwatch market.

Hengxuan and Qualcomm are expected to witness double-digit growth this year, the report added.