The number of Apple Watch users has surpassed 100 million, and the smartwatch market has grown by 27% year over year in Q2

The number of Apple Watch users has surpassed 100 million, and the smartwatch market has grown by 27% year over year in Q2

According to a survey by market research firm Counterpoint, Apple Watch maintained its dominance in worldwide wristwatch shipments in the second quarter of 2021, which ended in June, and its active user base has already reached 100 million. The total wristwatch market grew by 27% year over year in the third quarter, due to robust demand for devices priced under $100 (approximately Rs. 7,400). Despite Apple’s continued dominance, Samsung and Garmin also saw significant year-over-year growth in their quarterly smartwatch shipments.

Apple maintained its lead in terms of shipments, but its market share fell to 28 percent in the second quarter from 30.1 percent the year before, according to Counterpoint. The “intensifying competition” produced by Chinese and Indian companies in recent months is considered to be one of the main causes for the drop.

Despite a modest drop in market share, the Apple Watch has already surpassed 100 million users for the first time. The Samsung Galaxy Watch Active 2, Apple Watch Series 3, and the Imoo Z6-4G were allegedly the top-selling smartwatches internationally in the second quarter, followed by the Apple Watch Series 6 and Apple Watch SE.

The United States continues to be a significant market for Apple, accounting for more than half of the company’s user base. According to Counterpoint Senior Analyst Sujeong Lim, the Apple Watch’s attach rate, which effectively indicates the number of units of a secondary product sold as a direct or inferred result of the sale of a main product, was similarly close to 30%.

While the Apple Watch remained the market leader, the sub-$100 smartwatch sector expanded by 547 percent yearly, according to the analyst.

Samsung and Garmin, two of the top five smartwatch companies in the world, had substantial year-over-year shipping increase of 43 percent and 62 percent, respectively.

According to Counterpoint, Samsung rebounded from its slow performance last year owing to the Galaxy Watch 3 and Galaxy Watch Active 2, which both enjoyed consistent popularity. In the second quarter, the South Korean behemoth increased its market share from 6.8% to 7.6%.

Garmin, on the other hand, is said to have had its best quarter ever in terms of shipments, with a market share of 5.8%. In the second quarter of last year, the American fitness tracking wearables maker managed to overtake Chinese smartwatch brand Amazfit, which had a 5.6 percent market share.

Huawei, on the other hand, remained in second place in the top five worldwide smartwatch brands ranking. The Chinese firm’s market share fell to 9.3 percent in the third quarter, down from 13.1 percent the previous year. The downturn in Huawei’s smartphone industry, according to Counterpoint, has impacted its wristwatch sales internationally.

North America remained the leading market for smartwatches in terms of volume in the second quarter of 2021. It was followed by China, which continued to rise in terms of volume despite a slowing growth rate. According to Counterpoint, the recovery of consumer spending in the Chinese market following the COVID-19 epidemic has been slower than in other areas.

On the other hand, India has emerged as the world’s fastest-growing smartwatch market. Anshika Jain, a senior analyst at Counterpoint, said that the country accounted for less than 2% of the overall market in the second quarter of previous year, but had grown to 6% in only a year.

“One of the main growth drivers has been the emergence of sub-$100 cheap, feature-rich smartwatches from Chinese brands like Xiaomi, Realme, and Oppo, as well as Indian firms like Boat and Noise,” she said.

Leave a Reply

Your email address will not be published. Required fields are marked *