Apple grabbed record half of global smartwatch market in H1 2020
Apple continued to lead the smartwatch market but with a record 51.4% market share, according to Counterpoint Research.
Unlike the smartphone market, the smartwatch market has seen a 20% revenue growth in H1 2020, according to the latest data from Counterpoint Research. Almost 42 million smartwatches were shipped in the first half of 2020 owing to the growing demand of “health conscious” users.
Apple still took the lead with a 51.4% market share as it witnessed a strong demand for the Watch Series 5. This makes Apple occupy a record half of the smartwatch market globally. Its biggest markets were Europe and North America where it saw a growth of 22%. Following Apple is Garmin with a 9.4% market share as its Forerunner and Fenix smartwatches saw a health demand. Like Apple, Garmin's key markets are also Forerunner and Fenix.
Huawei also witnessed a notable growth as its Watch GT2 grabbed the third spot in the smartwatch market. The demand for Huawei's smartwatches increased in China and other Asian markets where shipment volumes grew by 90%. Counterpoint Research also highlighted Amazfit and Xiaomi as fast-growing brands in the smartwatch market.
“Amazfit (+51% YoY) and Xiaomi (+47% YoY) made healthy strides during the first half with expanding portfolios and better geographic reach. China, India and the rest of Asia remain central to these brands' growth story,” said Neil Shah, Vice President Research.
In terms of software, Apple's watchOS still leads the race followed by Google's Wear OS which has a 10% hold in the smartwatch market. Huawei Lite OS and Amazfit OS are also slowly going up. Consumer trends show a growing demand for LTE smartwatches while fall detection and SPO2 are expected to see “mass-adoption in future models”. Counterpoint Research expects this trend on fitness and wellness apps to continue in the future.