Apple Watch maintained number one spot in smartwatch market, report says
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Apple (NASDAQ:AAPL) continued to maintain the top spot in the smartwatch market, holding 30% of the market, as the overall market grew significantly in 2021, according to Counterpoint Research.
The research firm said that Apple (AAPL) had 30.1% of the market in 2021, though that fell from 32.9% in 2020, as competition continued to increase. Its average selling price rose 3%, Counterpoint added.
Apple (AAPL), which does not break down Apple Watch sales, said it generated $14.7 billion in revenue in its most recent quarter, from its Wearable, Home and Accessories segment, which includes the Apple Watch, as well as AirPods and other products.
âThe global smartwatch marketâs good growth in 2021 is meaningful in itself, but it is more meaningful in that it makes us look forward to future growth," Counterpoint Research Associate Director Sujeong Lim said in a statement.
"With their ability to monitor important health parameters like blood pressure, ECG and SPO2, these devices are becoming popular."
Apple introduced features such as the electrical heart sensor and ECG app, a Blood Oxygen sensor and app in the Apple Watch Series 6.
In second place was Samsung (OTC:SSNLF), which Counterpoint said had more than 200% quarter-over-quarter growth in the third quarter, as it moved to Google's (NASDAQ:GOOG) Wear OS. Samsung had 10.2% of the market in 2021, up from 8.9% in 2020.
Rounding out the top five were Huawei, imoo and Amazfit, which had 7.7%, 5.2% and 5.1%, respectively.
Geographically, India had a health expansion in the smartwatch market in 2021 compared to 2020, as it grew four times in 2021 and now accounts for 10% of the smartwatch market.
North America and China were the top two geographies in 2021, accounting for 30% and 24%, respectively.
Over the weekend, Apple (AAPL) supplier Foxconn said it was halting production at its factories in Shenzhen, China as the city is dealing with a sharp uptick in COVID-19 cases.