In the global smartwatch market, the range of smartwatches has decreased overall compared to the previous year due to the ongoing Covid-19 crisis. However, Apple smart watches sees its shipments growing 19% annually (on an annual basis).
Apple was the most smartwatch seller in the fourth quarter of 2019 when it gained 34% of the market share. In the last quarter of last year, Apple Watch models had a 40% market share.
Main Highlights
- In the global smartwatch market, supply decreased overall compared to the previous year.
- Apple However saw shipments grow 19% year over year.
- Apple’s growing market share is due to the success of the new, affordable Apple Watch SE.
According to Counterpoint, Apple smart watches accounted for 40 percent of all smartwatch sales in the fourth quarter of 2020. The closest competitor is Samsung with a market share of only 10% in the period October to December 2020.
In the fourth quarter of last year, Apple controlled 34% share of the watch market Smart hands, while Samsung has 9%.
The consolidation of Apple’s market share is due to the success of the new Apple Watch SE, the mid-range Apple Watch option. Apple released the SE along with its flagship Series 6 for a whopping $279.
Some comments like the lack of a permanently turned on display, ECG functionality, and a faster S6 processor.
Counterpoint analyst Sujeong Lim said, “Apple’s growing market share, despite its relatively solid price point. It means that smartwatches with higher average selling prices benefit from higher demand.”
Lim said, “The smartwatch market is supported by three premium brands – Apple, Samsung and Huawei.”
He said, “We believe ASP will continue to grow over the next two to three years as the leading models from this company continue to lead. On the other hand, Apple’s success with the Watch SE model will likely encourage others like Samsung to use similar models in the Market.”
In February, Apple transferred the 100 million mark for its shipments to the Apple smart Watches.
According to Counterpoint, the average retail price of brands such as Apple, Samsung and Huawei has increased in the global smartwatch market. This trend is likely to continue in 2021.
