Apple Watch become best selling watch in Smartwatch market

Smartwatches have risen in popularity during the 2010s and now smartwatch industry is booming and millions of smartwatches are sold every year. According to counterpoint research, Apple Watch become best selling watch in smartwatch market in Q1 2022. Apple Watch captured a 36.1 % market share in the first quarter of 2022 which is more than the 3 times of Samsung smartwatch market share.

Apple watch saw a growth of 14% year over year in the smartwatch market. After Apple, Samsung was the second largest brand in smartwatch shipment.

According to the report, Apple captured a major 36.1% market share in Q1 2022. Apple maintained a strong lead with a 14% year-over-year increase. Samsung took a 10.1% market share and it saw a 46% increase in shipments as compared to last year in Q1 2021. Samsung’s market share grew significantly in the Asia Pacific  (APAC) region. Samsung galaxy watch 4 series is popular in the APAC region.

Huawei also registered a 7.2 % of market share in Q1 2022, but it didn’t show any growth due to its weak position in the smartwatch market because of restrictions.

Xiaomi registered a huge market share of 69% year over year and is breaking the shipment records every quarter. It is the first time Xiaomi made its position in the top 4 in the global smartwatch market.

Garmin is in the fifth position in shipments, but it came in the third position in revenue. Garmin watches have a higher average selling price (ASP). The majority portion is the premium single smartwatch which is over $500.

Amazfit is in sixth place and maintained a market share of 4%. It is also looking to provide in other countries to grow its smartwatch shipment and market share. Amazfit latest GTR AND GTR3 series helped it to make its position in the smartwatch market.

Major regions grew year over year except for Europe. Europe recorded flat growth. Fitbit and Garmin record slow growth and perform weakly in the European market during this period. Apple and Samsung continued to grow year over year and perform very well in the smartwatch market.

Apple’s high brand devices like iPhone build trust in users to buy apple smartwatches and it helped Apple to become successful in smartwatch industry. Apple smartwatch is especially popular with the younger generation, sportsperson.

Apple provides lots of features in comparison to its competitor in its latest apple watch, apple watch series 7 features have like water-resistant, dust resistant, Always on Retina Display, Blood Oxygen app, ECG app, Emergency SOS, Fall Detection, International emergency calling, etc.