Global Smartwatch Shipments Market Share (Q3 2020 – Q2 2022)

 

Source: Global Smartwatch Shipments by Model Quarterly Tracker

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Global Smartwatch Shipments Market Share (Q3 2020 – Q2 2022)
Brands Q3
2020
Q4
2020
Q1
2021
Q2
2021
Q3
2021
Q4
2021
Q1
2022
Q2
2022
Apple 28% 40% 36% 31% 23% 38% 36% 29%
Samsung 10% 10% 8% 7% 14% 10% 10% 9%
Amazfit 5% 4% 4% 5% 6% 5% 4% 4%
Imoo 7% 6% 5% 6% 6% 4% 3% 4%
Others 50% 40% 47% 51% 51% 43% 47% 53%

Highlights:

  • The global smartwatch market’s shipments grew 13% YoY in Q2 2022 amid macro uncertainties such as inflation and geopolitical conflicts.
  • India’s smartwatch market grew by more than 300% YoY to overtake China for the second spot, helped by domestic brands Fire-Boltt and Noise which accounted for more than 12% global shipment share.
  • China’s economic slowdown resulted in a 10% YoY decline, with India’s outperformance helping it to overtake China for second spot globally.
  • Apple retained top spot but shipments continued to decline ahead of  the expected Watch Series 8 launch next month.
  • Samsung enjoyed a strong Q2 with 40% YoY growth with its Galaxy Watch 4 Series maintaining popularity in top markets India and the US.
  • Huawei took the first position in the Chinese market for the third consecutive quarter. But the brand will find it difficult to regain the second position from Samsung globally due to the brakes on its global expansion.
  • Xiaomi’s shipments increased 13% YoY with no significant change in its market share. The brand needs to increase its presence in India to further expand its market share, but competition will not be easy due to strong local brands.
  • Garmin fell two places to the seventh spot compared to the previous year. However, due to its higher ASP, the brand ranked third after Apple and Samsung in terms of wholesale revenues.
  • Amazfit’s shipments declined 11% YoY due to the weak demand in China market. But it performed well in India, growing 65% QoQ.

We also have a detailed smartwatch shipments model tracker available for subscribing clients:

Global Smartphone Market Model Tracker - Counterpoint Research

                  

*Data on this page is updated every quarter

This data represents the global smartwatch market share by quarter (from 2020-2022) by top brands. For detailed insights on the data/tracker, please reach out to us at contact(at)counterpointresearch.com. If you are a member of the press, please contact us at press(at)counterpointresearch.com for any media enquiries.


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