Global Smartwatch Market Grew 27% In Q2 2021; Apple Remains Leader, India Becomes Fastest Growing Market

The global smartwatches market grew 27 percent in the second quarter of this year, as compared to the same period last year, a new report from Counterpoint Research has said. The Counterpoint Research Global Smartwatch Model Tracker says that Apple maintained its number 1 position in terms of shipments, but its market share declined slightly as compared to Q2 2020 due to the increasing competition from Chinese and Indian brands. Samsung and Garmin showed a remarkable growth in terms of smartwatch shipments, with a 43 percent and a 62 percent year-on-year growth, respectively.

While Samsung showed recovery from last year’s performance due to the popularity of products like the Samsung Galaxy Watch 3 and the Galaxy Watch Active 2, Garmin recorded its highest shipments ever during Q2 2021. Among the top 5 brands, only Huawei showed a declining trend, as the company’s declining smartphone business is trickling down to other products. During the second quarter, Apple enjoyed a 28 percent market share, Huawei took a 9.3 percent market share, Samsung accounted to 7.6 percent of the total smartwatch shipments, Imoo took a 6 percent share, and Garmin enjoyed a 5.8 percent market share.