Global Watch Shipments Witness a 12 Percent YoY Increase Following Increase in Demand

Muhammad Zuhair
Muhammad Zuhair
2 Min Read
Image: Getty Images; Collage by Gabe Conte

According to Counterpoint Research’s most recent Global Smartwatch Model Tracker report, smartwatch shipments increased by 12% in 2022 over 2021. Strong smartwatch sales throughout the first three quarters of 2022 contributed to the surge. Shipments saw a 2% YoY fall in the fourth quarter due to weak growth in India and increasing inflation rates.

With 34.1% of the market share in terms of shipments, Apple continues to lead the market, followed by Samsung (9.8%) and Huawei (6.7%). Apple’s Watch Ultra, Watch Series 8, and Watch SE (2022) models all saw high demand. An amazing 60% of the income from the worldwide smartwatch industry was earned by Cupertino.

Global Shipments Comparison

With a 12% increase in shipments but just a 0.5% increase in sales, Samsung finished in second. As its sales rose by 20%, Huawei suffered a 1 percentage point decline. Due to significant development in their home market, the Indian smart wearables companies Noise and Fire Boltt climbed to the fourth and fifth positions in worldwide exports. Garmin, Amazfit, and boAt were all close to having a 4% market share. Although Xiaomi is currently at number eleven, Fitbit was in tenth place.

North America is the biggest market by volume of shipments in the worldwide smartwatch market, accounting for 29% of all shipments. India, which is currently the second-most significant area for smartwatches after China, had phenomenal development in 2022.

The majority of smartwatches sold in 2022—35% of total shipments—were in the sub-$100 price range. The Apple Watch Series 8 and Watch Ultra models were significantly responsible for the largest increase in shipments in this price range.

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Muhammad Zuhair is a tech enthusiast who loves to stay up to date on the latest developments in the field. He is always on the lookout for new and exciting ways to explore and engage with technology. Whether he is tinkering with gadgets or reading up on the latest trends, Muhammad is always eager to learn more and stay ahead of the curve
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