Q3 2024 Whitepaper: China's Smart Devices Market Analysis

Key Finding 1

China's smart device market reveals a tale of five segments at vastly different maturity stages, with portable smart screens and AR glasses leading explosive growth.

Our analysis of sales data from leading Chinese marketplaces for the 2024 rolling year (July 2023 to June 2024) identifies a clear divergence across five smart device categories. Portable smart screens emerged as the standout performer, surging +210.5% YoY to CN¥ 850 million as consumers embraced these devices as mobile entertainment and productivity companions. AR glasses posted +59.9% YoY revenue growth to CN¥ 430 million, powered by demand for information-enhanced features such as real-time translation and navigation. Meanwhile, the broader XR glasses market contracted -21.2% YoY to CN¥ 920 million across the marketplaces covered, dragged down by VR's steep -45.4% decline. These divergent trajectories signal that consumers are gravitating toward practical, lifestyle-integrated devices over pure entertainment hardware.

Key Finding 2

Robot vacuums remain the largest segment at CN¥ 13.52 billion, with premiumization driving mid-to-high-end growth of +16.8% YoY while budget products struggle.

The robot vacuum market sustained +12.2% YoY growth in the trailing year, reaching CN¥ 13.52 billion across the marketplaces covered. A decisive premiumization shift is underway: mid-to-high-end products (priced above CN¥ 3,000) grew +16.8% YoY to CN¥ 11.27 billion, while budget products declined -4.2% YoY. The CN¥ 5,000-7,000 price segment expanded its volume share from 29.2% to 36.5%. Competition intensified among domestic brands including Roborock (石头), Narwal (云鲸), Dreame (追觅) and ECOVACS (科沃斯).

Key Finding 3

Emerging categories — smart rings and blood pressure meters — face distinct challenges: smart rings must prove utility beyond wristbands, while blood pressure meters navigate a mid-price transition.

Smart rings reached CN¥ 7.46 million in trailing-year sales (+64.3% YoY), with domestic brands such as Quzzz competing on sub-CN¥ 700 value positioning against established players such as Oura. Despite rapid growth, the category remains tiny — orders of magnitude smaller than smart bands — and must overcome consumer concerns about sports adaptability and measurement accuracy. Blood pressure meters posted modest +3.3% YoY growth to CN¥ 2.58 billion, with tube-style meters surging +60% YoY as prices shifted from premium to the CN¥ 200-400 mid-range.