The market is also booming with entry-level smartwatches, sales of which have increased 547% in one year.
The Apple Watch has over 100 million users.
Apple’s smartwatch continues to be a hit, although its market share has fallen slightly from 30.1% to 28% due to fierce competition.
The smartwatch market is doing well and has grown 27% in one year in terms of shipments, according to a new report from Counterpoint Research.
Apple maintained its leadership position, while Samsung (+ 43%) and Garmin (+ 62%) recorded admirable growth, above the market average.
Samsung is trying to take second place from Huawei with popular products like the Galaxy Watch 3 or Watch Active 2.
Garmin is making a big splash with its products focused on sports and fitness. The only drop in the market compared to last year is Huawei, which is also experiencing a decline in sales of its smartphones. This decrease is explained by the smartwatch, which relies heavily on the brand’s phones.
547% growth for entry-level watches
While Apple Watches are the best-selling, one segment of the market is experiencing explosive growth. Sales of connected watches under $ 100 have increased by 547% in one year, especially in the United States.
The United States has the largest market share in terms of volume, ahead of China and India, a newcomer thanks to more affordable smartwatches.
The under $ 100 watch segment is driven by brands like Xiaomi, realme, OPPO, Noise and boAT. Sujeong Lim, the report’s lead analyst, tells us more about the market:
“Looking at the success of Apple Watch, more and more OEMs have entered the smartwatch market with a relatively less advanced operating system but comparable fitness and health features, and sleek designs to affordable prices targeting hundreds of millions of potential users worldwide.
The pandemic has pushed consumers to be more health conscious again, and features like SPO2 and heart rate monitoring have trickled down to the smartwatch segment under $ 100. “
“Based on the success of the Apple Watch, other OEMs have entered the smartwatch market with a relatively less advanced operating system, but comparable functionality related to fitness, health, or health benefits. Stylish designs at affordable prices, targeting hundreds of millions of potential users around the world.
The pandemic has caused consumers to become more health conscious, and features like SPO2 and heart rate tracking have appeared in the smartwatch segment under $ 100. “
The different uses of connected watches seem to have found their target, and more and more users are taking the plunge.
Interoperability between smartphone and smartwatch remains one of the main factors determining the choice of different models by consumers.
And indeed, the leading brand Apple is preparing to launch another new model of connected watch soon.