Counterpoint Research recently released Global Smartwatch Model Tracker, showing that global smartwatch shipments in the second quarter of this year increased by 27% compared to the same period last year, indicating that the industry has emerged from the shadow of COVID-19.
Apple’s shipments still rank first, but due to intensified competition with Chinese and Indian brands, its market share has declined slightly from the same period last year. Among the world’s top five smartwatch OEM manufacturers, Samsung and Garmin’s shipments increased by 43% and 62% YOY, respectively, which exceeded the market average growth rate, and the growth rate was higher than that of other top brands.
Thanks to the stable popularity of Galaxy Watch 3 and Watch Active 2, Samsung quickly recovered from its slightly sluggish performance last year. Garmin recorded the highest shipment volume ever in the quarter. Among the top 5 brands, only Huawei dropped compared to the same period last year. The decline in its smartphone business seems to have affected its smartwatch sales because smartwatches from such vertical players are closely optimized with the brand’s smartphones and users’ loyalty to the brand’s product ecosystem.
Commenting on the outlook for the smartwatch market, senior analyst Sujeong Lim said: The smartwatch installation rate for smartphones has been steadily increasing. As the brand continues to revolve around its attractive design, health features and related services, Apple’s ecosystem Seeing a higher attach rate.
In the quarter ended in June, the Apple Watch user base exceeded the 100 million mark for the first time, occupying the largest share of the global smartwatch user base. The United States is still the main market for Apple Watch, accounting for More than half of its user base, and the additional rate is close to 30%.
