Counterpoint announced a 24% annual growth in the supply of smart watches in 2021


Counterpoint announced a 24% annual growth in the supply of smart watches in 2021

Counterpoint announced a 24% annual growth in the supply of smart watches in 2021

News unit EMGblog.com: Counterpoint Research Institute on Monday, March 14 This year (March 23, 1400), he published his report on the global smart watch market in 2021

In fact, the trend of consumers towards cheap smart watches led to a 14% increase in supply in North America and a 10% increase in China. has been However, the greatest impact of this new approach can be seen in India. where its annual sales increased by 274% and reached a 10% share of the global market.

According to Counterpoint, companies Samsung, Amazfit and Garmin all grew above They have recorded the market average. Despite this, Apple with its Apple Watch is still the number one smartwatch manufacturer and dominates the market; A product that was first launched in April 2015 and has become the most popular smart watch in the world.

The market share of the top 9 smart watch brands in 2021 compared to 2020

Sujeong Lim ( Sujeong Lim), vice president of Counterpoint, said: “While the good growth of the global smartwatch market in 2021 is meaningful in itself, its importance becomes more clear when we look at the future growth prospects. These devices have gained popularity for their ability to monitor important health parameters such as blood pressure, electrocardiogram (ECG) and blood oxygen level (SPO2). In addition, if more smartwatches support cellular connectivity, their appeal as standalone wearable devices will increase.”

If we look at the smartwatch market by manufacturer, performance Manufacturers will be as follows:

Apple

Apple last year retained its first position by acquiring 30.1% of the market share. But due to the intensification of competition, the market share of the American giant faced an annual decline of 3%, which could be a danger sign for the managers of this company. Of course, the average selling price or ASP of Apple products, without taking into account the release of the SE model in 2021, indicates a 3% increase, and in this way, Apple has allocated half of the total market revenue.

Samsung

The Korean company has been one of the most successful smart watch manufacturers in 2021, with its quarter-on-quarter growth reaching more than 200% in the third quarter of last year. It recorded the best amount of smartwatch supply of this company so far. This growth continued strongly until the last quarter of 2021 and according to the analysis of Counterpoint experts, Samsung’s collaboration with Google to develop the Wear OS operating system has been an effective factor in increasing the sales of this company’s products.

Huawei

Huawei has also launched new advanced models and children’s smart watches despite the continued US sanctions, but has still faced a decline in annual supply. Of course, presenting Watch GT 3 and Watch Fit Mini in the fourth quarter, the company’s sales volume in the final season has doubled compared to the previous season.

imoo 2020 has ended. However, its entry into markets outside of China, including Europe, has maintained the company’s unchallenged top spot in the children’s smartwatch space.

Amazfit registered last year. Of course, with the gradual increase in the share of GTR and GTS smartwatches as high-end models of this brand, the average selling price of its products also increased by 11%.

Amazfit GTR 2e

Garmin

According to Counterpoint, Garmin has performed beyond expectations in 2021. The company initially focused on high-end smart watches with specific uses, such as aviation and diving, but has gradually shifted its focus to consumer products with attractive prices. An approach that has brought 35% annual growth and a one-step upgrade to the sixth position among the top smartwatch manufacturers for this company.

Fitbit

Among prominent brands, Fitbit has performed poorly in 2021. Since the release of Sense and merger with Google, has been associated with more than 15% year-on-year decline in 2021. However, the company is expected to return to growth once again with the launch of the Versa 4 in the second half of 2022.

Xiaomi

Chinese company Xiaomi also with the release of Mi Watch Lite in the first half of 2021, it has shown a strong performance and the Redmi Watch 2 has also launched in the fourth quarter of last year. Lite model in this series to increase The range of users’ choice has been released and is expected to help Xiaomi in increasing its market share.

Noiz

On the other hand, Noiz company, as the top company in the Indian smart watch market, recorded the fastest growth rate among the top 9 smart watch brands in the world. and is among the manufacturers for which a bright future is predicted. In fact, one of the factors driving the growth of the global smart watch market in 2021 has been the expansion of the Indian market. A market that only accounted for 3% of the global share in 2020, but in 2021, with a fourfold growth, it has nearly 10% of the global market share of smart watches.

Comparison of the supply share of smart watches by region Distribution in 2020 and 2021

According to Anshika Jain, senior analyst at Counterpoint, Noiz is the number one smartwatch brand in India and is leading the growth of this market within the country’s borders. In 2021, this company has taken the top position due to its diverse portfolio of products, in the low and mid-range segment, along with partnerships with e-commerce operators, financial institutions and celebrities. The Indian company has also tried to create a community of consumers and by reducing the price of its products, it has tried to offer smart watches to a wider group of people. A method that proved to be successful last year. Thus the noise in 2021 after Apple and Samsung, in the Asia-Pacific region, excluding China, ranked third in terms of supply.

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