Rapid growth in shipments
Smart watches are one of the smart wearable devices that major technology companies have focused on in recent years, and since 2017, with the gradual enrichment of smartwatch functions and the sinking of the price, the global smartwatch shipments have risen sharply, from 0.32 billion pieces in 2017 to 2021 to 1.275 pieces, with a CAGR of 41.28%.
Apple's dominance is obvious, and North America is the largest market
Sub-branded, the current global leading company in the field of smartwatches is Apple, with a market share of 32% and 37% in 2020 and 2021, respectively. They are closely followed by Samsung and Huawei, with Samsung's market share at 10% in 2021, up 1 percentage point year-on-year, while Huawei's market share is 8%, down 3 percentage points year-on-year.
By region, the world's largest smartwatch market in 2021 is North America, occupying about 30% of the global smartwatch market, China is in second place because of the huge demand for children's smartwatches, occupying about 24% of the global smartwatch market share, while Europe, Asia-Pacific (except China and India), India's market share is 19%, 14% and 10%.
From the point of view of operating system, in the global smartwatch market in 2021, the smartwatch proprietary operating system or RTOS still occupies a dominant position. With the popularity of Apple Watch, Watch OS occupies nearly one-third of the market share, while the market share of Wear OS rises to 10% and ranks second due to the shift of Samsung's smartwatch operating system from Tizen to Wear OS. And Huawei and AMAFIT both have a 5% market share.
India's market is growing at a high rate
India, as the largest developing country outside of China, has also maintained a fast growth rate in the consumer electronics market in recent years; in 2021, India's smartwatch shipments rose 274% year-on-year, much higher than the growth rate of China and North America markets; in the first quarter of 2022, India's smart watch shipments rose 173% year-on-year.
-- The above data refer to the China Smartwatch Market Outlook Forecast and Investment Strategy Planning Analysis Report
by Prospect Industry Research Institute.