Tracker: Global Wearables Microvendor Market Share: 2024 Q2
Discover how second-tier MICROVENDORS are reshaping the global wearables market despite a 2.7% decline in Q2 2024. While smartwatches grew, other categories struggled. Explore the latest trends and market challenges.
A huge number of second-tier MICROVENDORS are playing a meaningful role in the global wearables market, flooding the market with new, niche, and segmented offerings. Global wearables shipments declined by 2.7% in Q2 2024, marking the seventh consecutive quarter of declines amid continued macroeconomic weakness and geopolitical uncertainty, causing a lengthening replacement cycle and limiting consumer spending. Smartwatches returned to growth after six quarters of declines, though declines in fitness bands, feature watches, and VR more than offset the smartwatch growth. Smartglasses and hearables also grew albeit from a low base. Total wearables, for this report, include smartwatches, fitness bands, smartglasses, virtual reality headsets, feature watches, advanced hearables, jewelry/apparel/shoes, and others.
