Despite Samsung’s phenomenal growth, Apple is still the absolute leader in the smartwatch market

According to Canalys’ latest estimates, global shipments of smart bracelets increased by two percent to 41.7 million units in the second quarter of 2022, which is an important return to growth after a 3.7 percent decline in the first quarter of this year. Low-end smart watches and watches classified as wristwatches have also grown by 46.6% and 9.3%, respectively. The category of wristwatches, along with health bracelets, continues to grow, while basic model bracelets have experienced a sharp decrease of 35.5% in the second quarter of 2022. The performance of health bracelets in this period of time in India has been associated with a significant growth of 275%, and this country is in the third place after China and the United States in terms of overall sales of smart and health bracelets, and its share has reached 15% for the first time.

The initial boom in the sale of smart watches had an impact on the growth of this market in India, so that these products accounted for 91% of all shipments of smart wearables in this country; In addition, the supply of 5.7 million low-end smartwatches in India has made the country the largest market for such products. Ashwej AyatalCanalys analyst said:

Top local companies like Noise, Fire-Bott, and BoAt have found a winning formula to quickly reach quarterly shipments of over one million units. Attractive and cost-effective designs marketed to the young and smart users will help the sellers to meet the current demand. Of course, users often need deeper engagement with devices and their health capabilities. Buyers of these types of products will soon be looking for devices and improved health capabilities, such as better detection and more health metrics. Vendors must anticipate this change in people’s needs to avoid disappointment and for the smart wearables market to continue to grow.

In India, Noise leads with 29% of the health bracelet market, followed by Fire-Bott and BoAt with 25% and 20% respectively.

Manufacturer Sales of the second quarter of 2022 (million units) Market share in the second quarter of 2022 (percentage) Sales of the second quarter of 2021 (million units) Market share in the second quarter of 2021 (percentage) Annual growth
Apple 8.4 26.4 percent 7.9 31.1 percent 6 percent
Samsung 2.8 8.9 percent 1.8 7 percent 58 percent
Huawei 2.6 8.3 percent 2.3 9 percent 14 percent
Noise 1.8 5.8 percent 0.4 1.5 percent 382 percent
Garmin 1.7 5.5 percent 1.9 7.6 percent minus 11 percent
Other brands 14.3 45.3 percent 11.1 43.8 percent 29 percent
Total 31.7 100 percent 25.4 100 percent 25 percent
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Cynthia ChenCanalys analyst says that Apple still dominates the global smart watch market with a 26% share. Samsung surpassed Huawei with a remarkable growth of 58%, and despite the release of the Galaxy Watch 5 series, it has shipped about 2.8 million smartwatches in the third quarter of 2022. The latest models of Samsung and Garmin smart watches and the release of new Apple and Google watches in the coming months will increase the competition in the high-end smart watch segment. Smart watch users have more information about these products and choose devices that offer the best tracking features they want to monitor health or sports activities.

Chen He also stated:

Premium user experience will be enhanced with attractive designs, high build quality, intuitive software, ecosystem integration and effective health tracking. Although this is challenging, vendors must leverage their software development experience and knowledge and combine them with a digital health strategy to stand a chance of winning in the long run.

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