The growth of the smartwatch market continues: a positive 2021 closed, a 2022 under the banner of + for most of the brands involved in the sector, Apple and Samsung in the first place. In the first quarter shipments increased by 13% compared to Q1 2021, and Xiaomi has even reported a + 69% every year. The data of Couterpoint Research thus highlight a decidedly positive situation despite the well-known difficulties of this historical moment – from the ongoing conflict to the pandemic, from the crisis of the components to inflation. However, a contraction of 24 percentage points in the sector in Q1 2022 on a quarterly basis should be reported: this was expected and essentially due to the seasonal drop in demand.
At a regional level, China (+ 8%), North America (+ 6%) and the rest of the world are growing, while Europe is the only area that has remained virtually unchanged. Given the protracted conflict in Ukraine, a contraction in the Old Continent is expected in the second quarter.
Well Apple, with 36.1% market share, which analysts believe could grow further during the year (Watch Series 8 is expected). Compared to last year, Apple Watch shipments are increased by 14%. It follows from a distance Samsungwhich from 7.8% of market share in Q1 2021 rises to 10.1% e grows by 46% thanks above all to the success of the Galaxy Watch 4 and 4 Classic in Asia Pacific.
Maintains the third position Huawei, which, however, passes from 8.1 to 7.2% of market shares. The trend in shipments in the first quarter was rather flat, a consequence of an international decline and an increase in China. Behind him we find Xiaomi which, as mentioned at the beginning, has seen its shipments grow by 69 percentage points: this is a record for the Beijing-based company.
Garmin, Amazfit, imoo and Fitbit close the ranking:
- Garmin: it ranks fifth in terms of number of shipments, but is third in revenue considering the average selling price of its smartwatches.
- Amazfit: the brand is also having success in Europe. The hottest products were GTR 3 and GTS 3, announced by the brand in October last year.
- imoo: a little-known brand in our area is on the decline.
- Fitbit: no new models this year, a natural consequence of Alphabet’s acquisition of the brand in November 2019.
Credits opening image: Pixabay