Smartwatch Market Top Key Players - Apple Inc, Fitbit Inc., Garmin, Sony, Samsung, Huawei Technologies Co Ltd, Xiaomi Corp

The Global Smartwatch market posted a healthy 20% revenue growth in H1 2020 despite the COVID-19 pandemic and shipments remaining flat compared to the same period last year. Apple has managed to hold on to its top spot for the time period of October to December in the year 2020, in terms of shipments. Apple Watch shipments amounted to 40 percent of the total increase alone. In doing so, Apple also increased its market share by 6 percent.

In terms of sales, Apple’s position is even stronger. In the third quarter, it achieved $2.3 billion, nearly half of global smartwatch shipments and an 18% increase over the same period last year.

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GLOBAL SMARTWATCH MARKET SIZE AND FORECAST

Global smartwatch volumes grew 20% YOY to 12.5 Million units in Q1-2020. But Q2-2020 is likely to reverse this trend as many outlets remained shut and e-commerce was hampered in many locations.The smartwatch space remains a popular consumer device segment, compared to the downturn seen in smartphone demand and many other segments in the first six months of 2020 due to the devastation caused by COVID-19.

Close to 42 million smartwatches were shipped in the first half of 2020 as wearables continue to see greater demand with consumers becoming more health conscious. India (+57% YoY), Europe (+9% YoY) and the US (+5% YoY), the most affected regions of COVID-19, saw a healthy growth in smartwatch shipments which offset the decline in other markets

GLOBAL SMARTWATCH MARKET SEGMENTATION

By Geography
• US
• China
• Russia
• India
• Saudi Arabia
• France
• Germany
• UK
• Japan
• South Korea
• Rest of the world

By Application
• Personal Assistance
• Medical/Health
• Wellness
• Sports
• Miscellaneous

By OS
• iOS
• Android
• RTOS
• Tizen

COMPETITIVE LANDSCAPE

In Q1-2020, Apple Watch led the global market with a market share of 55%, followed by Samsung and Garmin rose to third position.

Apple continued to dominate the smartwatch market both in volume and value. Apple captured a record half of the market in terms of revenue due to strong demand for the Apple Watch S5 models. In terms of shipment volumes, Apple Watch grew 22% globally with Europe and North America being the fastest growing markets in the first half of 2020.

Garmin, the second-largest brand in terms of revenue globally, continued to make strides cornering the sports enthusiast and athlete market. The brand saw healthy demand (+31% YoY) for its Forerunner and Fenix line, making up one of the broadest portfolios of smartwatches in the market. Europe and North America remain the key markets for Garmin.

New companies are focusing on design and development of new and highly advanced smartwatches. The new products are now equipped with powerful speakers, HD cameras, GPS tracker, Good storage capacity, voice control, thermometers among others. Many of them also feature high-end software that allow a seamless wireless and touch less feature, high-end connectivity, digital mapping and personal organiser.

COMPANY PROFILES

Apple Inc
Fitbit Inc.
Garmin
Sony
Samsung
Huawei Technologies Co Ltd
Xiaomi Corp
Titan
Fossil
Oppo
Realme
Amazfit

Read More Information: https://mobilityforesights.com/product/smartwatch-market/

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