Apple retained its title as the clear market leader in smartwatches in 2022, selling twice as many devices as Samsung and Huawei combined
Last year, the smartwatch market was once again led by the American company Apple. It was able to increase its share even slightly and alone generated more than half of the revenue.
Here's What We Know
According to Counterpoint Research, Apple had a 34.1% share of the smartwatch market at the end of 2022. The Cupertino-based manufacturer was able to sell more than twice as many wearable devices as Huawei (6.7%) and Samsung (9.8%) combined.
What's more, Apple was able to generate 60% of total revenue. It was helped by a trio of smartwatches announced in autumn 2022. Recall that the company introduced the Apple Watch Series SE 2022, Watch Series 8 and Watch Ultra.
Samsung increased shipments by 12%, but the South Korean manufacturer's revenue rose only 0.5%. Huawei sold 1% more smartwatches year-on-year, but revenue was up 20%.
The Indian brands Fire Boltt and Noise deserve special attention. They suddenly rocketed into the top 5. The share was 5.5% and 5.6% respectively. Moreover, the Indian market share rose from 9% to 21% in 2022 compared to 2021.
North American users are still the main buyers. Shipments there grew by 6% year-on-year, but the share dropped from 30% to 29%. China, due to a jump in India and a 9% drop in shipments, saw its share drop from 23% to 19%.
The Apple Watch Ultra and Watch Series 8 saw a 129% increase in sales of smartwatches priced from $400 in 2022, thanks to their popularity. But users most often buy devices for $100 and cheaper. Their share was 35%.
Source: Counterpoint Research