Smartwatch market on fire

According to the latest research from Strategy Analytics, global smartwatch shipments soared 47% annually to reach 18 million units in the second quarter of 2021. Apple Watch maintained the first position with 52% global smartwatch market share, Samsung held second, while Garmin maintained third place.

Steven Waltzer, senior analyst at Strategy Analytics, says, “Global smartwatch shipments soared 47% annually from 12.3 million units in Q2 2020 to 18.1 million in Q2 2021. Smartwatch shipments worldwide are growing at their fastest rate since 2018. Smartwatch growth is back to pre-pandemic levels. Online sales of fitness-led devices that help to support personal healthcare remain popular and are the main driver of the smartwatch boom.”

Neil Mawston, executive director at Strategy Analytics, says, “We estimate Apple Watch shipped 9.5 million units worldwide in Q2 2021, rising 46% from 6.5 million in Q2 2020. Apple’s global smartwatch market share is holding steady around the 52% level. Apple still owns half the market and is keeping rivals at bay. Apple Watch Series 6 today is by far the world’s most popular smartwatch model, due to its blend of sleek design, good usability on a small screen, and a growing portfolio of health and fitness apps.”

Waltzer says, “We estimate Samsung shipped 2.0 million units worldwide in Q2 2021, rising an above-average 54% from 1.3 million in Q2 2020. Samsung’s global smartwatch market share is holding steady around the 11% level. Samsung continues to perform well in its core smartwatch markets of North America, Europe, and South Korea. We estimate Garmin shipped 1.5 million units worldwide in Q2 2021, rising a modest 25% from 1.2 million in Q2 2020. Garmin’s global smartwatch market share has drifted from 10% to 8% during the past year. Garmin has a strong portfolio of smartwatches, such as Forerunner 55 and Venu, but it is facing tougher competition in Asia and elsewhere from rivals like Xiaomi and Samsung.”

Mawston says, “The smartwatch market is on fire. The smartwatch outlook for the rest of the year and into the Q4 holiday season is highly promising. Samsung’s new Galaxy Watch 4 is packed with compelling apps that track your holistic health better than ever before. Chinese brands, like Xiaomi and Oppo, are piling in with lower-cost 4G smartwatches optimized for mobile operators. Meanwhile, Apple Watch Series 7 is eagerly awaited, slated for September or October, and rumoured to contain a larger display that will enhance further the app experience.”

Exhibit 1: Global Smartwatch Vendor Shipments and Marketshare in Q2 2021 ¹

Global Smartwatch Vendor Shipments (Millions of Units)

Global Smartwatch Vendor Marketshare (% of Total)

The full report, Global Smartwatch Vendor Market Share by Region: Q2 2021, is published by Strategy Analytics’ Wearable Device Ecosystems (WDE) service, details of which can be found here.