Smartwatch market leader Apple dominates, but not in premium segment

It is no shock that Apple continues to be the smartwatch market place chief by a sizeable margin, in accordance to the most up-to-date information, but what is uncommon is that the firm does not prime the listing in the quality smartwatch segment.

At the other conclusion of the scale, Xiaomi is demonstrating increasing indicators of proudly owning the spending budget section …

Smartwatch reputation enhanced in Q1

Counterpoint Exploration suggests that shipments grew appreciably yr-on-12 months, inspite of supply chain troubles and issues about inflation fears curbing demand from customers for shopper electronics.

The international smartwatch current market recorded 13% much more shipments as opposed to the similar time period very last calendar year, inspite of considerations above economic slowdown and inflation, in accordance to Counterpoint Research’s not long ago released World wide Smartwatch Model Tracker.

Associate Director Sujeong Lim reported, “Although the global smartwatch market saw little advancement in 2020 due to the impact of Covid-19, it has ongoing to accomplish very well considering that its rebound previous year.

Whilst that progress was witnessed in most locations of the entire world, European shipments have been flat, most most likely due to the Russian invasion of Ukraine.

We in the beginning expected the war in between Russia and Ukraine to have negligible effects on the current market in Q1, but the prolongation of the conflict and the ensuing logistical constraints have started to affect the European area. The influence of the war will become additional really serious in Q2.

Apple unchallenged as smartwatch market chief

The Apple Watch preserved its dominance of the market place, with a 36.1% market share, a lot more than triple that of second-positioned Samsung at 10.1%. Counterpoint expects this development to continue.

Apple accounted for much more than a 3rd of the complete shipments past year, and it is more escalating its affect with a market place share of 36% in the very first quarter of this yr. The significant manufacturer loyalty of Iphone consumers is just one of the results aspects of the Apple Look at. This recognition appears to be higher between the more youthful era, building Apple an irreplaceable marketplace chief. Of class, every little thing was probable since the significant performance of the product and the outstanding relationship among supported iOS products. We think that Apple’s market share is possible to rise additional by the finish of this yr.

Apple maintained a stable direct and enhanced 14% YoY in Q1 2022. Some shipments carried over to Q1 2022 due to a month late launch of Apple Look at 7, which served keep on the power of the brand name.

But Garmin best in top quality phase

Apple normally owns the top quality segment in every single of its solution groups, but this is not correct in smartwatches. Garmin has the biggest share of the >$500 sector, which is why it is fifth in market place share but third in profits.

The company’s smartwatches are initial option for customers into climbing and camping, many thanks to rugged styles, TOPO mapping, and photo voltaic charging that can prolong battery daily life as considerably as 56 days.

The company’s lineup also features sophisticated dive computer systems with features like checking remaining air for the wearer and their dive buddies.

Other models

Samsung boosted its possess marketplace share from 7.8% in Q1 2021 to 10.1% in the identical quarter this calendar year. Considerably of that development was attributed to the attractiveness of Galaxy Watch 4 collection, particularly in the Asia-Pacific region.

Xiaomi cleaned up in the spending budget section.

Xiaomi recorded its to start with Leading 4 situation with 69% YoY growth and is breaking its shipment report each and every quarter as it fast penetrates globally. A huge proportion of its gross sales appear from the very low-conclude section beneath $100.

Fitbit observed its sector share shrink right after launching no new types next its acquisition by Google. The Android creator wishes to transition the lineup to Put on OS, which is the likely explanation for the delay.

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