Apple, Garmin, and Huawei are the top 3 in the smartwatch market this year.
Even after the lockdown and the whole pandemic situation, The sales of smartwatches has not stopped. We saw how the smartphone market fell due to Coronavirus and how it has affected almost all the sectors.
The Smartwatch market has seen a good rise in the market because as we know, smartwatches emphasize a lot on tracking different aspects of your body. This lets you know a lot about your current fitness.
Given the current state of this world, Fitness and health is the foremost priority for everyone. This has eventually led to more sales of smartwatches. There are a lot of brands making smartwatches but only two or three of them are truly dominating it.
According to market research firm Counterpoint Research, Apple, Garmin, and Huawei wearables comprised nearly 70% of the total smartwatch market revenue in the first six months of 2020. Apple has covered half of the market with 50% of the total market share. A 7% rise since the last year.
Talking about how much the numbers have increased, Smartwatch shipments grew in India (+57% YoY), Europe (+9% YoY), and the U.S. (+5% YoY).
Compared to Apple and Garmin, Huawei has seen great sales in China and Asian markets. Especially the Huawei’s Watch GT2.
This growth propelled Huawei to the 2nd position in H1 2020 in terms of global smartwatch shipment revenue.
Garmin is a huge name across the European markets and its Forerunner and Fenix have seen a good amount of sale. Garmin and Huawei have 17.7% shares of the global smartwatch shipment in H1 2020. Whereas Apple is much ahead in the race at 51.4%.
Xiaomi, Amazfit, Fitbit are very popular names in the smartwatch market but the market shares have been much much lower. If we add up the three companies’s shares, they would be just 0.5 %ahead of Garmin.They are rising but still catching the top 3 is difficult. Especially Apple is just uncatchable at the moment.
Samsung at the moment is just 1 percent behind Huawei but the launch of the new Galaxy Watch could see them overtake Huawei. They were in second place in H1 2019 but they dropped significantly to 4th place.
Among all the names we still don’t have Google in the race. They do have their Wear OS which is powering a lot of smartwatches. But it would be interesting to see if they launch watches of their own. They have plans of acquiring Fitbit rather than building things from scratch.
It would be interesting to see where will Google land in the rankings if they join the race.