Samsung and Garmin showed a remarkable growth in terms of smartwatch shipments, with a 43 percent and a 62 percent year-on-year growth, respectively. (Image Credit: Pexels)
The report also said that North America is the largest smartwatch market in the world, followed by China. India, on the other hand, was the fastest growing market in the previous quarter
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- Last Updated:August 27, 2021, 10:49 IST
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The global smartwatches market grew 27 percent in the second quarter of this year, as compared to the same period last year, a new report from Counterpoint Research has said. The Counterpoint Research Global Smartwatch Model Tracker says that Apple maintained its number 1 position in terms of shipments, but its market share declined slightly as compared to Q2 2020 due to the increasing competition from Chinese and Indian brands. Samsung and Garmin showed a remarkable growth in terms of smartwatch shipments, with a 43 percent and a 62 percent year-on-year growth, respectively.
While Samsung showed recovery from last year’s performance due to the popularity of products like the Samsung Galaxy Watch 3 and the Galaxy Watch Active 2, Garmin recorded its highest shipments ever during Q2 2021. Among the top 5 brands, only Huawei showed a declining trend, as the company’s declining smartphone business is trickling down to other products. During the second quarter, Apple enjoyed a 28 percent market share, Huawei took a 9.3 percent market share, Samsung accounted to 7.6 percent of the total smartwatch shipments, Imoo took a 6 percent share, and Garmin enjoyed a 5.8 percent market share.
The report also said that North America is the largest smartwatch market in the world, followed by China. India, on the other hand, emerged as the fastest growing market in the previous quarter, according to the Counterpoint Research report. India was the smallest market during the same quarter last year with just 2 percent of the total market share, but now accounts for about 6 percent of the total market.
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