Apple is the most important maker in the smartwatch industry, with 49% market share last quarter, followed by Samsung with 15%, and Garmin with 11%, then Huawei and Google. Garmin, in particular, was the only smartwatch maker that registered significant growth last quarter, increasing its sales by the whopping 16%.
Smartwatch shipments Q2 | Image credit – Canalys
Apple, Samsung, and Google are now countering Garmin’s ascent with more health and fitness oriented products, so “Canalys anticipates double-digit growth in smartwatch shipments in H2 2024.”
These ecosystem vendors are set to introduce advanced health and fitness tracking features to counter Garmin’s ongoing success, spurring a wave of device upgrades. To succeed in this competitive market, smartwatch vendors must deliver significant improvements in health tracking and battery life over previous generations. Continued growth in the basic watch segment is also expected, with vendors such as Xiaomi and Huawei needing to maintain aggressive pricing while adding further premium features to attract consumers. As smartwatches return to significant innovation, competition in the wearable market is set to intensify.
Canalys, September ’24
Apple unveiled the 10th generation of its venerable Watch series during the iPhone 16Glowtime event, and it had a literally bigger surprise in store than just the new, faster S10 chip under the hood.
While there is no major form factor change, and the Apple Watch Series 10 looks similar to the Series 9, it comes with the largest screen and thinnest ever design on an Apple Watch.
At just 4.7mm, it’s nearly 10% thinner than its predecessor, which makes it the most elegant smartwatch that Apple has ever produced.
The stainless steel version is now replaced by a titanium one in addition to the regular aluminum alloy case, and both are very light. The Apple Watch 10 comes with either a GPS or GPS + Cellular connectivity option, as well as an IP6X dust-resistant rating and water resistance of up to 50m like its predecessor.
Apple is now waiting for an FDA certification for the Watch 10 so that it can release its new sleep apnea notifications function that is backed by clinical studies, making it an even more indispensable health and fitness tool.