Wrist-worn devices sell fast in China

China defied the global wrist-worn wearables market downturn in the first three quarters, emerging as the world’s fastest-growing market for smartwatches and bands with double-digit growth, according to market research firm International Data Corporation (IDC).

In the first nine months of this year, Chinese shipments jumped 20% year-over-year to 45.8 million units, per a report released by IDC. Smartwatches dominated the market, accounting for more than 70% of total shipments at 32.9 million units, representing a 23% increase from the previous year. Smart bands comprised the remaining 12.9 million units, up 13%.

Driven by sustained Chinese consumer interest in health and wellness, the wrist-worn device market is expected to continue expanding in the coming years. IDC predicts shipments will rise by 3.2% to 62.5 million units next year, fueled by improvements in health monitoring functions powered by advancements in artificial intelligence (AI) and sensor technologies.

China stands in stark contrast to the global market, where wrist-worn device shipments declined 1% to 140 million units during the same period, impacted by homogenized competition and market saturation. Specifically, smartwatch shipments dropped by almost 4% to 110 million units, while smart band shipments grew by 13% to 26.8 million units.

Chinese tech giant Huawei Technologies emerged as the world’s leading seller of wrist-worn devices, shipping 23.6 million units and capturing around 17% of the market. U.S. tech giant Apple ranked second with 22.5 million units shipped, holding about 16% of the market share. Xiaomi followed in third place with 20.5 million units, trailed by South Korea’s Samsung with 11.5 million units.