China Smart Devices: Five Segments Diverge in 2024

Executive Summary#

China's smart device market shows five segments at very different stages of maturity, with portable smart screens growing 210.5% YoY to CN¥ 850 million while sales of XR glasses as a whole came under pressure. Moojing Market Intelligence (魔镜洞察) analysed sales on two leading Chinese marketplaces for the 2024 rolling year (July 2023 to June 2024). Robot vacuums are the largest segment at CN¥ 13.52 billion, AR glasses grew 59.9%, and emerging categories such as smart rings are gaining early traction. This article examines how each of the five segments is positioned and how fast it is growing.

Five Segments, Five Growth Trajectories#

China's smart device categories are moving apart from one another at an increasing pace. Three market dynamics account for most of the difference between them, namely strong demand in robot vacuums and portable smart screens, rising concentration in the established categories, and pressure on segments such as VR glasses, where consumer interest is fading.

A bubble chart that maps growth in store numbers against growth in sales revenue shows that each category sits at a distinct stage of its market lifecycle:

• Robot vacuums: CN¥ 13.52 billion (+12.2% YoY), a mature category in which demand remains strong
• Portable smart screens: CN¥ 850 million (+210.5% YoY), where very fast growth in demand is drawing in many new entrants
• Blood pressure meters: CN¥ 2.58 billion (+3.3% YoY), a stable category growing slowly as it consolidates
• AR glasses: CN¥ 430 million (+59.9% YoY), where growth comes from innovation in information-enhanced features
• Smart rings: CN¥ 7.46 million (+64.3% YoY), an early-stage category in which domestic brands are gaining ground

We believe that in the 2024 rolling year the investment opportunities lay at the two ends of this range, either in the fast-growing emerging segments or in technology-led niches within the mature markets.

XR Glasses: AR Gains as VR Comes Under Pressure#

The XR glasses market moved in two directions at once. Overall sales came under pressure, at CN¥ 920 million, but AR glasses posted revenue growth of 59.9% YoY to CN¥ 430 million while VR glasses came under heavier pressure, at CN¥ 490 million. As a result, AR glasses' share of the total XR market nearly doubled in one rolling year, climbing from 22.9% to 46.5%, a shift of 23.6 percentage points.

AR glasses grew 59.9% while XR glasses as a whole came under pressure

*Source: Moojing Market Intelligence*

Portable Smart Screens: Category Breakout at +210.5%#

Portable smart screens grew faster than any other segment in our analysis. These large, portable touchscreen displays reached CN¥ 850 million in trailing-year sales, an increase of 210.5% YoY.

Many brands launched products in the category in the second half of 2023, which shows how quickly competition is building. Hisense promoted its 27X6H model through a partnership with CCTV3, and we believe its entry shows that traditional TV manufacturers see portable smart screens as a natural extension of their product range.

Consumer reviews show that binge-watching is the most common use (6,875 mentions), followed by exercise (1,687) and studying (852). Bedrooms and living rooms are the main places of use, and evening is the peak time. Short battery life is the main complaint, which suggests that brands able to extend use beyond the current limit of approximately 7 hours will be well placed to grow with this fast-expanding category.

Emerging Segments: Smart Rings and Blood Pressure Meters#

Smart rings reached CN¥ 7.46 million in trailing-year sales (+64.3% YoY), helped by the domestic brand Quzzz, which positioned its rings below CN¥ 700. Despite this rapid growth, the category remains orders of magnitude smaller than smart bands, and consumer concerns about how well the rings suit sports and how accurately they measure are the most significant barriers to its expansion.

Blood pressure meters posted modest growth of 3.3% YoY to CN¥ 2.58 billion. The notable development within the category is that tube-style meters grew 60% YoY as their prices moved from the premium range down to the CN¥ 200-400 mid-range.

Robot Vacuums: Premiumization Reshapes a CN¥ 13.5B Market#

Robot vacuums sustained growth of 12.2% YoY to CN¥ 13.52 billion. A decisive shift toward premium products is under way: mid-to-high-end products (priced above CN¥ 3,000) grew 16.8% YoY to CN¥ 11.27 billion, while budget products came under pressure. The CN¥ 5,000-7,000 price band expanded its share of volume from 29.2% to 36.5%.

Mid-to-high-end robot vacuums reached CN¥ 11.27 billion (+16.8% YoY) as the budget segment came under pressure

*Source: Moojing Market Intelligence*

Key Takeaways#

• Portable smart screens are the fastest-growing segment, up 210.5% YoY to CN¥ 850 million on the strength of household entertainment demand
• AR glasses grew 59.9% YoY while VR glasses came under pressure, which we read as a decisive consumer shift toward information-enhanced wearables
• Robot vacuums remain the largest segment at CN¥ 13.52 billion, with mid-to-high-end products growing 16.8% while the budget tier came under pressure
• Smart rings grew 64.3% YoY but remain small at CN¥ 7.46 million, with domestic brands such as Quzzz gaining ground on prices below CN¥ 700
• Blood pressure meters show stable growth of 3.3%, while the tube-style sub-segment grew 60% YoY as its prices became more affordable

About the Data#

This analysis draws on Moojing Market Intelligence data covering the 2024 rolling year (July 2023 to June 2024) on two leading Chinese marketplaces. Moojing analyses brand and category performance across major Chinese e-commerce platforms. For full methodology and additional insights, see the complete Smart Devices whitepaper.