According to a new report by Counterpoint Research, Apple leads as the brand with the largest market share in the global smartwatch market, while strong growth from Indian brands such as Fire-bolt and Shor has made India the second largest market for smartwatches globally. market has been made. The global smartwatch market grew 13 percent year-on-year in the second quarter of 2022, despite a slight decline in market share, with Apple being the leader. Meanwhile, Samsung saw strong growth, becoming the brand with the second largest market share for smartwatches globally.
India is the second largest market for smartwatches
This information comes via Counterpoint Global Smartwatch Model Shipment and Revenue Tracker, Q2 2022, and provides some interesting insight into how the smartwatch space has grown over the past year. biggest surprise in report good There is growth of Indian smartwatch brands, especially market leaders Shore and Fire-bolt who have made it to the top five brands for global smartwatch shipments on the back of strong performance in India.
The Indian smartwatch market has witnessed a huge growth owing to the launch of several affordable smartwatches and sensible distribution strategies by brands like Shor and Fire-bolt. Other brands like Boat and Dizo have also seen some success in this segment in India, with many buyers opting for smartwatches under Rs. Over 5,000 on a traditional wristwatch.
Apple and Samsung are at the fore
Despite a small drop in market share, Apple remains the number one brand in the global smartwatch market with a market share of 29.3 percent, driven by strong sales and margins on its premium Apple Watch series. Notably, Samsung has placed Huawei in the second place with a market share of 9.2 percent, while Huawei is at the third position with a lesser share of 6.8 percent.
Shore and Fire-bolt are in the top five, while brands like Xiaomi, Amazfit and Garmin remain in the top eight. Noise recently launched the ColorFit Pro 4 and Pro 4 Max smartwatches in India, priced at Rs. 3,499 and Rs. 3,999 respectively. The Fire-Bolt will also hope to capitalize on last year’s momentum, and has been regularly launching new affordable smartwatches for the past few months.
