The global smartwatch market shipments hardly grew in 2020 due to COVID-19, but they recorded a healthy 24% YoY growth in 2021, according to Counterpoint Research’s recently published Global Smartwatch Model Tracker. Apple Watch maintained its solid No. 1 position with a 30% market share, taking half of the total revenue in the smartwatch market worldwide.
The fourth quarter alone saw shipments of more than 40 million units, the highest quarterly shipments ever.
Associate Director Sujeong Lim said in a statement, “The global smartwatch market’s good growth in 2021 is meaningful in itself, but it is more meaningful in that it makes us look forward to future growth. With their ability to monitor important health parameters like blood pressure, ECG and SPO2, these devices are becoming popular. Further, the attractiveness of smartwatches as independent wearable devices will increase if more of them start supporting cellular connectivity.”
Apple maintained its solid No. 1 position with a 30% market share but fell 2.8 percentage points YoY due to intensified competition and growth in sub-$100 smartwatches. However, Apple Watch’s ASP rose 3% without the release of the SE model in 2021. As a result, Apple accounted for half of the total market revenue.
Global Top 9 Smartwatch Brands Shipment Share, 2021 vs. 2020