Based on the latest global smartwatch model tracker report from , smartwatch shipments in 2022 increased by 12% compared to 2021. counterpoint researchThis growth was fueled by strong smartwatch sales in the first three quarters of 2022. Shipments in the fourth quarter (October 1 to December 31) were down 2% year-on-year due to higher inflation and slower growth in India.
Global smartwatch shipments will compare 2021 and 2022 (Counterpoint Research)
Apple remains the world’s top brand in terms of shipments, accounting for 34.1% of the market, followed by Samsung (9.8%) and Huawei (6.7%). Apple has found strong demand for its Watch Ultra, Watch Series 8, and Watch SE (2022) models. Cupertino earned his 60% of the global smartwatch market revenue.
Samsung came in second, with a 12% increase in shipments but only a 0.5% increase in revenue. Huawei saw a 1 percentage point drop in sales compared to his 20% increase. Indian smart wearable brands Noise and Fire Boltt have risen to his 4th place and his 5th place in global shipments due to the rapid growth of their home market. Garmin, Amazfit, and boAt all maintain 4% market share. Fitbit took his 10th place and Xiaomi is currently 11th.
Smartwatch Shipment Share by Region 2021 and 2022 (Counterpoint Research)
Breaking down the global smartwatch market by region shows that North America is the largest market with 29% shipment volume. India has seen tremendous growth in her 2022 and is now her second most important region for smartwatches, with China taking her third place.
The largest portion of smartwatches shipped in 2022 was in the sub-$100 price range, accounting for 35% of all shipments. Products above $400 saw the biggest increase in shipments (up 129% year-over-year), driven primarily by the Apple Watch Series 8 and Watch Ultra models.
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