In the first half of 2021, global smartwatch shipments reached 93.3 million, a year-on-year increase of more than 40%.
Under the circumstances of an unstable epidemic situation, lack of cores, and rising raw material prices, the global economy is under pressure. Against this background, it is not easy for the smartwatch market to have such growth.
Among the TOP20 best-selling smartwatch models in the first half of 2021 released by Rising Sun Big Data, the total sales volume was as high as 30.38 million, accounting for about 33%. Apple smartwatches performed strongly, with the first three all being Apple models. The fourth and fifth models belong to Huawei and Samsung. It can be found that the top five models are all mobile phone manufacturers, and they are already in a dominant position in the field of smart watches.
The following are the TOP20 best-selling smartwatch models in the world in the first half of 2021 carefully organized by Rising Sun Big Data:
Compared with the 2020 TOP20, Apple’s three shortlisted models, Watch Series 6 and Watch Series 3, are still the first and third on the list. It can be said that Apple’s products are very stable, and a product can be sold for several years.
In terms of shipments, Apple holds nearly 50% of the market with 14.49 million smartwatches. Huawei has a 23% market share with 6.99 million smartwatches.
It can be seen from the above market share analysis that the combined market share of all brands is comparable to that of an apple, which also means that domestic brands still have a lot of room for effort.
From the perspective of the price segment, consumers prefer the market of 100-999 yuan and 1000-1999 yuan, each of which accounts for 40% of the market.
Prices above 2,000 yuan account for 20% of the market. Players at this price point are currently only Apple, Samsung, and Huawei.
The Future of the Smartwatch Market
- Growing demand for fitness and sports wireless gadgets is driving the market. The use of smartwatches by cyclists and runners, gym-goers, swimmers, and athletes is multiplying due to their broad range of monitoring capabilities. The wireless connection of these watches to smartphones lets users manage music, notifications, alarms, auto-sleep, and other functions. This is the reason for the rapid growth of this market.
- Health awareness and awareness-raising in the minds of consumers drive the demand. The world’s population is spending lots of money on gadgets for monitoring health. The latest Apple wearable series four can monitor heart rate, the nervous system, emergency, alerts for inactivity, and other health-related incidents. By using a smartwatch, one can take the appropriate precautions before consulting a doctor. Doctors can track a patient’s health remotely using the smartwatch and diagnose them as per prescription.
- According to the study by Rock Health on digital health adoption in 2018, the adoption of wearables increased dramatically from 24 percent from 2017 up to 33% by 2018. More people use these devices to meet critical health issues, not only tracking fitness.
- Additionally, the continuous technological advancements made by the companies in the market are also driving the growth of smartwatches because they are specialized devices that require continuous R&D to improve their functions. In the year 2019, Fossil launched the Fossil Sport smartwatch. This watch is powered by the Qualcomm Snapdragon Wear 3100 processor and features the newly-redesigned Wear OS from Google. This smartwatch is perfect for everyone who is a health and fitness lover.
- One of the primary reasons people aren’t choosing smartwatches is the absence of knowledge of their benefits. The technology employed in smartwatches and their complexity are significant factors that limit the market.