Wednesday, Sep 29, 2021
Counterpoint Research Institute published its report on the state of the global smartwatch market in the second quarter of 2021 on Thursday, August 26, 2021. According to the report, as COVID-19 improved, the global supply of smartwatches increased by 27% compared to the same period last year. Counterpoint attributes this growth to strong demand for smartwatches priced under $ 100. As in the past, Apple maintained its lead in terms of supply, but due to fierce competition with Chinese and Indian brands, it has lost some of its market share compared to the second quarter of 2020.
5 Premier, Samsung and Garmin grew by 43% and 62%, respectively, which was above the average market growth rate, and other brands could not reach this level of growth. Thanks to the growing popularity of watches like the Galaxy Watch3 and Watch Active2, Samsung seems to have made up for its relatively poor performance last year. Garmin, despite being ranked fifth among the top five brands and accounting for only 5.8% of the global market, managed to break the record for the highest supply of its smartwatch in a season in recent seasons (Counterpoint Has not announced the side of the brands). Garmin watches are especially popular thanks to the various GPS navigation features, especially among climbers and hikers.
after Apple - which is 28% Holds the global market - Huawei is in second place with a 9.3% share. It should be noted, however, that among the top five brands, Huawei is the only brand that has seen an annual decline in the supply of smart watches. Apparently, the decline in the company's smartphone business has also affected the sales of its smartwatches.
"Attachment rate" is a widely used term in marketing. The term is used to describe the amount of sales of a secondary good or service as a result of the sale of a primary good or service. According to Sujeong Lim, senior Counterpoint analyst, the rate of dependence of smartwatches on smartphones has been steadily increasing. As AppleWatch continues to thrive in design, health capabilities, and other related services, Apple's ecosystem is experiencing higher dependency rates. According to Counterpoint, the number of active AppleWatch users has exceeded 100 million for the first time in recent seasons, making Apple the largest user of smartwatches worldwide. More than half of these users (with an affiliation rate of about 30%) live in the United States.
Following the success of Apple Watch, we are witnessing more and more brands entering the field of smartwatch production They do, it increases. According to Suyeong Lim, the smartwatch's operating system may not be as advanced as watchOS, but these products have targeted hundreds of millions of potential users around the world with their fitness and health capabilities, sleek designs and affordable prices. Following the outbreak of the Corona epidemic, users have become increasingly sensitive to their health status, and as a result, advanced capabilities - such as measuring blood oxygen saturation (SpO2) and heart rate - have found their way into smartwatches below $ 100. Not bad to know, according to a recent Counterpoint report, the release of smartwatches under $ 100 in the last season was accompanied by a staggering 547% growth, which indicates the high popularity of these devices. North America is the largest market for smartwatches and India has the fastest growth in the supply of this product. , Occupies this title. China's smartwatch market has also grown in recent months in terms of volume of products offered, but this growth has been less than the growth of other markets. As seen in the Chinese smartphone market, the improvement in consumer spending on smartwatches in China after the Corona epidemic has been slower than in other markets. Needless to say, the gap created in the Chinese market by Huawei and Honor has not yet been filled. "India was the smallest market in the second quarter of last year, but with a share of less than 2% of the total market," said Anshika Jain, referring to high growth in other markets. "It rose to 6 percent in just one year." According to Anshika Jane, one of the most important drivers of growth in the smartwatch market is the growing popularity of high-end smartwatches under $ 100, produced by Chinese brands such as Xiaomi, Riley and Oppo, as well as Indian brands boAt and Noise.
At the end of this report, Counterpoint also announced the five best-selling smartwatches of the recent season. In this list of 5, Apple Watch Series 6 and Apple Watch SE are in the first and second ranks, and the third place goes to Samsung Galaxy Watch Active2.
In fourth place, we are again facing another Apple smartwatch, the Apple Watch Series 3. The Imoo Z6-G finally wins the title of the fifth best-selling smartwatch in the world in recent seasons.