the market for smart watchess presented a 13% growth between the months of January until the end of March 2022. The conclusions are now advanced by the market analysis agency, Counterpointregistering the domain Apple in this sector.
Second, we had the Samsungwith the Huawei in third place. Soon afterwards, the Xiaomi remained in fourth place and showing solid growth in market share. These are some of the conclusions for the first quarter of 2022.
The smartwatch market grew 13% in the 1st quarter of 2022
The quarterly report of Counterpoint first shows a 13% annual growth for the smart watch market from 2021 to 2022. Next, we see that Apple not only maintained its leadership but also expanded its market share.
In addition, Xiaomi remained in fourth place in this segment. However, it was the brand that grew the most from one year to the next, with an annual increase of 69%. Furthermore, practically in all quarters it exceeded its sales figures.
On the other hand, compared to the previous quarter, the last (4th) of 2021, the market recorded a 24% drop in sales volume. Something that is due to the Christmas season, difficult to match at any other time of the year.
Xiaomi grew 69% between Q1 2021 and Q1 2022
Apple maintains and extends its top spot. Something that, for Sujeong Lim, associate director at Counterpoint, can be attributed to brand loyalty. An unparalleled phenomenon among other manufacturers and which helps Apple to cement its user base.
On the other hand, Huawei showed the sharpest drop, also reflecting the erosion of its position in world markets. Chinese technology remains deprived of Google services and other US technology, so its position should continue to decline in the near future. However, Huawei has regained some momentum in its home market in China.
Furthermore, we see that in most regions Europe was one of the stagnant zones, largely due to the outbreak of conflict in Ukraine. In fact, according to this agency, the impact of the war will be particularly noticeable during the 2nd quarter of the year.
Finally, we also point out the growth of brands such as Garmin in the segment premium (over 500 dollars). On the other hand, Fitbit saw its market share decrease by not putting new products on the market after its acquisition by Google and transition to the Wear OS platform, yet to be implemented.
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