Apple captures over 50% of global smartwatch market revenue
Aug 23 2020
It took in 51.4% of the worldwide revenue from shipments of smartwatches during the first half of 2020, a significant rise from the same period a year ago.
The Apple Watch essentially launched the smartwatch category, and continues to dominate it. The top three brands - Apple, Garmin and Huawei - contributed more than 69 per cent of the total market revenue in H1 2020. "Apple captured a record half of the market in terms of revenue due to strong demand for the Apple Watch S5 models".
In the list of bestselling smartwatches based on the number of units shipped globally, the Apple Watch Series 5 is followed by the more affordable but very capable Apple Watch Series 3.
The global smartwatch market is still growing, as well. In the first 6 months of 2020, Garmin became the second highest-grossing company.
There are a variety of smartwatches available in the market today, but a new report revealed that the Apple Watch continues to dominate in the wearables category, outselling every other smartwatch in the first half of the year.
Counterpoint Research has announced the numbers for smartwatch sales for the first half of 2020. Notably, the company's Apple Watch sales also grew in Europe and North America by 22 percent, with the Apple Watch Series 5 being the best selling smartwatch during this period of time. "The brand saw healthy demand (+31 per cent YoY) for its Forerunner and Fenix line, making up one of the broadest portfolios of smartwatches in the market".
Huawei just edged its Korean rivals Samsung for third place overall, with 8.3pc share. It brought in 7.2% of global revenue. At the same time, the Huawei Watch GT 2 launched a year ago and the Galaxy Watch Active 2 came second.