Shipments are growing rapidly
Smart watches are one of the smart wearable devices that major technology companies have focused on in recent years. Since 2017, with the gradual enrichment of smart watch functions and As prices have fallen, global smartwatch shipments have increased significantly, from 32 million units in 2017 to 1.275 units in 2021, with an average annual compound growth rate of 41.28.
Apple has obvious advantages, with North America being the largest market
In terms of brands, Apple is currently the leading company in the global smart watch field, with market shares of 32 and 32 in 2020 and 2021 respectively. 37. Followed by Samsung and Huawei, Samsung's market share in 2021 is 10, a year-on-year increase of 1 percentage point, while Huawei's market share is 8, a year-on-year decrease of 3 percentage points.
In terms of regions, North America will be the world’s largest smartwatch market in 2021, accounting for about 30% of the global smartwatch market. China ranks second due to its huge demand for children’s smartwatches, occupying the second place. It has a market share of approximately 24% in the global smart watch market, while the market shares in Europe, Asia-Pacific (excluding China and India), and India are 19, 14, and 10 respectively.
From the perspective of operating systems, in the global smart watch market in 2021, smart watch proprietary operating systems or RTOS will still dominate. With the popularity of Apple Watch, Watch OS accounts for nearly one-third of the market share. As Samsung's smartwatch operating system switched from Tizen to Wear OS, Wear OS's market share increased to 10, ranking second. The market shares of Huawei and AMAFIT are both 5.
The Indian market is developing rapidly
As the largest developing country after China, India’s consumer electronics market has also maintained a rapid growth rate in recent years; in 2021, India’s smart Watch shipments increased by 274% year-on-year, much higher than the growth rate of the Chinese and North American markets; in the first quarter of 2022, India’s smartwatch shipments increased by 173% year-on-year.
——The above data refers to the "China Smart Watch Market Prospect Forecast and Investment Strategy Planning Analysis Report" by the Qianzhan Industry Research Institute