Global Smartwatch Market Share Shipments
(Mar 2023)
Top Wearable Device Companies by Shipments Market Share (Q1 2023)
Today, Apple dominates the global market share of smartwatches, taking the largest share of 26% among smartwatch vendors. The leading companies continue to improve their wearable devices with different operating systems, gaining a competitive edge in the market.
Let’s delve more into the smartwatch market share by unit shipments and its position in the forecast period of 2023 and 2027.
Apple dominates the global smartwatch market share in Q3 2022, accounting for more than 26% of the market. Samsung followed with 10.2%, Noise with 9%, Huawei with 6%, and imoo with 4%.
These key players operating in the global smartwatch market incorporate technological advancements like health and fitness tracking features that allow consumers to monitor their health and wellness, enticing them to buy and driving their way to global market growth.
Editors Picks:
- Apple leads the global smartwatch market share in shipments, accounting for 26% of global shipments in Q3 of 2022.
- Samsung is the second leading company in the global smartwatch market, accounting for 12% of global shipments in Q3 of 2022.
- Garmin’s smartwatch market share in shipments fell from 9.80% in Q2 2020 to 8.30% in Q2 2021.
- Amazfit is the world’s fifth largest smartwatch manufacturer, accounting for 4% of global shipments in Q1 2022.
- Fitbit generated an 11.30% smartwatch market share in shipments in Q3 2019.
Global Smartwatch Market Share by Shipments (By Year)
| Year | Apple | Samsung | Huawei | imoo | Amazfit |
| 2022 | 26% | 12% | 6% | 4% | 4% |
| 2021 | 38% | 10% | 8% | 4% | 5% |
| 2020 | 40% | 10% | 8% | 6% | 4% |
(Source: Counterpoint Research, Statista)
Apple has been the global smartwatch market share leader for three years. It generates a market share of 26% in shipments in 2022, a 12% decrease from the previous year due to increasingly fierce competition between the companies. Nevertheless, its average selling price (ASP) increased by 3% even without launching the SE model in 2021. Consequently, Apple controlled half of the global market revenue. (Source: Counterpoint Research, Counterpoint Research, Statista)
The expansion of the Indian market is one of the reasons for the growing popularity of smartwatches in 2021. (Source: Counterpoint Research)
Smartwatch Market
In the forecast period from 2023 to 2027, the revenue in the smartwatch segment of the wearables market is expected to generate US $44.91 billion. As more consumers arise and are drawn by smart devices, user penetration is anticipated to reach 2.74% this year, rising to 2.89% by 2027. The average revenue per user (ARPU) is projected to be US $213.70. (Source: Statista)
In terms of global revenue, the Asia Pacific region has the highest projected revenue in the smartwatch market by 2023. China will generate the most revenue with US $17.82 billion, followed by the United States with the US $12.32 billion. (Source: Statista)
Apple Watch Market Share by Shipments
Apple leads the global smartwatch market share in shipments, accounting for 26% of global shipments in Q3 of 2022. (Source: Counterpoint Research)
Apple Watch Shipments Market Share (By Quarter)
| Quarter | Shipments Market Share |
| Q3 2022 | 26% |
| Q2 2022 | 29% |
| Q1 2022 | 36% |
| Q4 2021 | 38% |
| Q3 2021 | 23% |
| Q2 2021 | 31% |
(Source: Counterpoint Research)
Apple Watch’s market share increased by 13% yearly, reaching 26% in Q3 2022. In the last six quarters, Q4 2021 had the highest smartwatch market share in shipments with 38%, followed by Q1 2022 with 36%. With the late launch of the Apple Watch 7 a month, some shipments were conveyed in Q1 2022. (Source: Counterpoint Research, Counterpoint Research)
One of the success indicators of the Apple Watch is the loyalty of iPhone users to the brand. This popularity is more common among the younger generation, establishing Apple as an unrivaled market leader.
Apple Watch Shipments Market Share by Year (2018-2022)
| Year | Shipments Market Share |
| 2022 | 26% |
| 2021 | 38% |
| 2020 | 40% |
| 2019 | 34% |
| 2018 | 37% |
(Source: Counterpoint Research, Statista)
Apple had the highest smartwatch market share in shipments in 2020, with 40%, owing to the company’s Fitness+ services and the high demand for the Apple Watch Series 6 and SE. These smartwatches alone managed to ship 12.9 million units, generating a 40% market share in Q4 2020.
Furthermore, there were 102 million Apple Watch users in the same year, representing a significant increase of 41.66% or 30 million.
(Source: Counterpoint Research, Statista, Statista)
Samsung Watch Market Share by Shipments
Samsung is the second leading company in the global smartwatch market, accounting for 12% of global shipments in Q3 of 2022. (Source: Counterpoint Research)
Samsung Watch Shipments Market Share (By Quarter)
| Quarter | Shipments Market Share |
| Q3 2022 | 12% |
| Q2 2022 | 9% |
| Q1 2022 | 10% |
| Q4 2021 | 10% |
| Q3 2021 | 14% |
| Q2 2021 | 7% |
(Source: Counterpoint Research)
In the previous six quarters, Samsung had the highest smartwatch market share of shipments, with 14% in Q3 2021, thanks to the release of the Galaxy Watch 4 series. Samsung developed its app ecosystem with this series through Android-based Wear OS. (Source: Counterpoint Research, Counterpoint Research)
In Q1 2022, it shows a 46% year-on-year (YoY) growth in shipments due to the rising popularity of the Galaxy Watch 4 in the Asia Pacific region. (Source: Counterpoint Research)
Samsung Watch Shipments Market Share by Year (2018-2022)
| Year | Shipments Market Share |
| 2022 | 12% |
| 2021 | 10% |
| 2020 | 10% |
| 2019 | 9% |
| 2018 | 8% |
(Source: Counterpoint Research, Statista)
Samsung has shown market growth in the past five years. Started from 8% shipments smartwatch market share in 2018 to 12% in 2022, resulting in a 4% growth.
Samsung grew its smartwatch market share by 1% year on year (YoY) in Q4 2020, recovering in the second half of the year with the release of its Galaxy 3 Watch. (Source: Counterpoint Research)
Huawei Watch Market Share by Shipments
Huawei is the world’s fourth largest smartwatch manufacturer, accounting for 6% of global shipments in Q3 of 2022. (Source: Counterpoint Research)
Huawei Watch Shipments Market Share (By Quarter)
| Quarter | Shipments Market Share |
| Q3 2022 | 6% |
| Q2 2022 | 7% |
| Q1 2022 | 7% |
| Q4 2021 | 8% |
| Q3 2021 | 5% |
| Q2 2021 | 9% |
(Source: Counterpoint Research)
Huawei had the highest smartwatch market share of shipments in the previous six quarters in Q2 2021, with 9%.
In Q1 2022, shipments at Huawei managed to be consistent yearly. The brand’s position in the global market is weak due to the GSM restrictions. But the amount of shipments to the Chinese market is continually rising. (Source: Counterpoint Research)
Huawei Watch Shipments Market Share by Year (2018-2022)
| Year | Shipments Market Share |
| 2022 | 6% |
| 2021 | 8% |
| 2020 | 8% |
| 2019 | 10% |
| 2018 | 5% |
(Source: Counterpoint Research, Statista)
Huawei contributed to the market growth of smartwatches in 2020, with shipments increasing 26% year on year (YoY) amidst the sanctions in the US. (Source: Counterpoint Research)
imoo Watch Market Share by Shipments
imoo is the world’s fifth largest manufacturer of smartwatches, accounting for 6% of global shipments in Q3 of 2022. (Source: Counterpoint Research)
imoo Watch Shipments Market Share (By Quarter)
| Quarter | Shipments Market Share |
| Q3 2022 | 4% |
| Q2 2022 | 4% |
| Q1 2022 | 3% |
| Q4 2021 | 4% |
| Q3 2021 | 6% |
| Q2 2021 | 6% |
(Source: Counterpoint Research)
In the last three quarters of 2021, imoo smartwatch market share by shipments remained consistent in Q2 and Q3 but fell by 2% in the previous quarter. While in 2022, it shows an increase of 1% in Q2 and remained consistent in Q3.
In Q1 2022, imoo shipments fell by double digits year on year (YoY) due to the YoY decline of the kids’ smartwatches market in China. (Source: Counterpoint Research)
imoo Watch Shipments Market Share by Year (2018-2022)
| Year | Shipments Market Share |
| 2022 | 4% |
| 2021 | 4% |
| 2020 | 6% |
| 2019 | 6% |
| 2018 | 6% |
(Source: Counterpoint Research, Statista)
Imoo remained consistent from 2018 to 2020, with a 6% smartwatch market share in shipments. It fell in 2021 as they didn’t launch a new product. Nevertheless, imoo still dominates the kids’ smartwatches segment. (Source: Counterpoint Research)
Amazfit Watch Market Share by Shipments
Amazfit is the world’s fifth largest smartwatch manufacturer, accounting for 4% of global shipments in Q1 2022. (Source: Counterpoint Research)
Amazfit Watch Shipments Market Share (By Quarter)
| Quarter | Shipments Market Share |
| Q1 2022 | 4% |
| Q4 2021 | 5% |
| Q3 2021 | 6% |
| Q2 2021 | 5% |
| Q1 2021 | 4% |
| Q4 2020 | 4% |
(Source: Statista)
Amazfit’s smartwatch market share in shipments has fluctuated between 4%, 5%, and 6% over the last six quarters. It managed to maintain its smartwatch market share by ranking sixth, owing to the release of the GTR 3 and GTS 3 series in Q4 2021. (Source: Counterpoint Research)
Amazfit Watch Shipments Market Share by Year (2020-2022)
| Year | Shipments Market Share |
| 2022 | 4% |
| 2021 | 5% |
| 2020 | 4% |
(Source: Statista)
Amazfit expanded its market position in 2021, growing by more than 20% yearly over the previous two years. Its average selling price (ASP) increased by 11% as the proportion of the brand’s high-end models, the GTR and GTS, steadily grew. (Source: Counterpoint Research)
Garmin Watch Market Share by Shipments
Garmin’s smartwatch market share in shipments fell from 9.80% in Q2 2020 to 8.30% in Q2 2021. (Source: Statista)
Garmin Watch Shipments Market Share (By Quarter)
| Quarter | Shipments Market Share |
| Q2 2021 | 8.30% |
| Q2 2020 | 9.80% |
| Q1 2020 | 8% |
| Q1 2019 | 7% |
| Q4 2018 | 6.10% |
(Source: Statista)
Garmin has increased its smartwatch shipment market share by 3.7% in two years, rising from 6.10% in Q4 2018 to 9.80% in Q2 2020. However, it fell by 1.5% in Q2 2021.
Garmin Watch Shipments Market Share by Year (2018-2021)
| Year | Shipments Market Share |
| 2021 | 4.5% |
| 2020 | 9.80% |
| 2019 | 7% |
| 2018 | 6.10% |
(Source: Statista)
Garmin outperformed expectations in 2021, showing an increase of 35% year on year (YoY). The brand initially focused on introducing high-priced smartwatches for aviation and divers. However, it is gradually shifting its focus to bringing appealing consumer products in terms of price and design. (Source: Counterpoint Research)
Fitbit Watch Market Share by Shipments
Fitbit, compatible with Android smartphones and iPhones, generated an 11.30% smartwatch market share in shipments in Q3 2019. The company does not have a new smartwatch to offer as they are undertaking internal reorganization following the merger with Google. Also, the transition of its operating system to Wear OS has been postponed. (Source: Statista)
Fitbit Watch Shipments Market Share (By Quarter)
| Quarter | Shipments Market Share |
| Q3 2019 | 11.30% |
| Q2 2019 | 9.80% |
| Q4 2018 | 12.70% |
| Q3 2018 | 15% |
| Q2 2018 | 15.20% |
| Q4 2017 | 4.30% |
(Source: Statista)
Fitbit managed to achieve significant growth of 7% from Q4 2017 (4.30%) to Q3 2019 (11.30%) in smartwatch market share in shipments. The brand had the highest percentage in Q2 2018, with 15.20%.
Fitbit Watch Shipments Market Share by Year (2017-2019)
| Year | Shipments Market Share |
| 2019 | 11.30% |
| 2018 | 12.70% |
| 2017 | 4.30% |
(Source: Statista)
Fitbit’s market share of smartwatch shipments increased by 7% from 2017 to 2019. With 12.70%, the brand had the highest percentage in 2018.
