According to a new report from Canalys, the global wearable bracelet market will grow by 5% to 194 million shipments by 2024. Huawei's global wearable bracelet market continued to grow in the first quarter of 2024. Thanks to artificial intelligence features and upgraded software systems, Huawei has reached new heights in the global smart bracelet field.
Canalys released the "Global Wearable Bracelet Market Analysis Report for the First Quarter of 2024", in which Huawei's sales performance increased. In the first quarter of this year, Huawei's sales of basic watches and bracelets increased by 46% year-on-year.
This is another quarter of Huawei's continued growth in the smart bracelet space. According to the report, the company focused on consumers who are looking for value for money during the quarter. Band 9 is a great example of this. This smart bracelet debuted in the global market in March of this year and has efficient features. Huawei has launched the Watch Fit 3 with interesting features and more importantly health features to enhance the user experience.
Xiaomi is in second place in this competition, with an annual growth rate of 37%. Canalys said that in the first quarter of this year, the overall wearable bracelet market fell by 0.2%. However, by the end of 2024, the market is likely to see new growth, with shipments increasing by 5%.
Research analyst Jack Leathem noted that the growth of regular watches could be replaced by the expansion of new smartwatches. This is because users are turning to wrist devices with long battery life and affordable prices.
Consumers expect data tracking and more health-related features in wearable bands. Vendors such as Huawei prioritize software, AI capabilities, advanced sensors, and healthcare services to enhance the user experience.
Canalys mentioned that suppliers should look for the growing demand in the wearable bracelet market. In recent years, affordability has become a big selling point for basic watches. Therefore, companies should take care to bring useful features at a cost-effective price.
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