Mountain View, California – Wear OS, once on the brink of obsolescence, now shows signs of a promising resurgence, buoyed by Google’s renewed commitment and a strategic partnership with Samsung. Recent data from a Counterpoint Research report revealed that Wear OS has captured a 21 percent market share, with projections indicating a rise to 27 percent by 2024. Although still trailing behind Apple Watch, this upward trajectory suggests a competitive standing in the smartwatch market.
The report’s segmentation focuses on smartwatches with an app store, excluding simpler electronic watches and fitness bands. Currently, Apple dominates the market with a 53 percent share, expected to dip to 49 percent by 2024. The “Other” category, accounting for 26 percent, includes notable players like Garmin and remaining Fitbit and Amazfit smartwatches. Notably, Samsung emerges as a pivotal driver for Wear OS, with other brands like OnePlus, Oppo, Xiaomi, and Google also making significant contributions to the wearable OS market.
In a separate landscape, the smartwatch market in China tells a different story, with Huawei’s HarmonyOS leading with a commanding 48 percent share. The company’s upcoming launch of an Apple Watch-inspired device signals a potential challenge to Apple’s 28 percent market share in China. Despite the absence of the Play Store in China, brands like Xiaomi and Oppo are venturing into Wear OS watch development, catering to local preferences and regulations.
Furthermore, powerhouses like Apple and Samsung currently dominate two-thirds of the chipset market share. Qualcomm, after facing setbacks in the smartwatch sector, is gradually reestablishing its presence with innovative releases like the W5 chipset. Interestingly, Chinese brands such as Xiaomi, Oppo, and OnePlus opt for Qualcomm chips due to limited alternatives, showcasing a shift in the smartwatch hardware landscape.
Overall, the evolving dynamics within the smartwatch market, propelled by technological advancements and strategic partnerships, indicate promising growth opportunities for Wear OS and its key players in the coming years. As consumer preferences evolve and competition intensifies, the stage is set for further innovation and market expansion in the wearable technology sector.