A report by market research firm Counterpoint Research states that Apple Watch has once emerged as the best-selling smartwatch in the world during the first quarter of 2022.
According to the report, apple watch Captured 36.1 percent market share in the first quarter of 2022, which is more than three times Samsung’s market share. Apple saw a 14 percent year-on-year growth in the smartwatch market and the entire smartwatch market saw a 13 percent year-on-year growth in Q1 2022. After Apple, samsung was the second largest brand in terms of units shipped, followed by Xiaomi,
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According to Counterpoint Research, Apple Maintained a solid lead with year-on-year growth of 14 per cent, capturing a major 36.1 per cent market share in Q1 2022. Apple was followed by Samsung, which took a 10.1 percent market share but reported a staggering 46 percent growth in shipments in Q1 compared to 2021. The report adds that Samsung’s market share in the APAC region has grown significantly as the Samsung Galaxy Watch 4 series is popular in the region.
Xiaomi, on the other hand, also posted a massive 69 percent year-on-year growth and is breaking its shipment records every quarter. This is the first time that Xiaomi has made it to the top 4 in the global smartwatch market, and the largest share of the company’s sales come from the less than $100 segment.
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Huawei It also registered 7.2 percent market share in Q1 2022 but showed no growth due to weak position in the international market due to sanctions.
Garmin It ranked fifth in terms of shipments, but came in third in terms of revenue, thanks to the company’s high average selling price (ASP). The report reveals that it captures the majority of the premium smartwatch segment above $500.
amazfit It also maintained a market share of 4 percent and secured the sixth position with the help of its latest GTR and GTS 3 series. Amazfit is also looking to expand outside of China, which means the company could increase its market share in the coming months.
By region, while most major regions grew annually, only Europe recorded flat growth. Although Apple and Samsung continued to grow from year to year, other major brands such as Garmin and Fitbit The report by Counterpoint Research noted that the European market underperformed during this period.
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