Global smartwatch shipments increase by 1.5% in 2020

The latest research on global smartwatch shipment tracking by market research agency Counterpoint Research shows that due to the impact of the coronavirus epidemic, global smartwatch shipments in the fourth quarter of 2020 have fallen slightly year-on-year. In 2020, global smartwatch shipments grow by only 1.5% year-on-year, and Apple still ranks first, with a market share growth of 6%, pushing up the proportion of the high-end market.

In the fourth quarter of 2020, due to the outstanding performance of Apple Watch Series 6 and SE, shipments reached 12.9 million units, and Apple’s market share increased to 40%. Samsung launched the Galaxy 3 smartwatch in the second half of the year, driving a 1% increase in market share year-on-year.

Image: counterpointresearch

The high-end market share expanded, with Apple, Samsung, and Garmin leading the high-end market. Counterpoint Senior Analyst Sujeong Lim commented, “Price band dynamics during Q4 2020 indicate ASPs (average selling prices) are on the rise. 2019’s biggest segment ($101-$200) shrank by 7%pts, while the more premium $300-plus segments grew by 8%pts, helped tremendously by Apple, which enjoyed a dominant market share of over 70% in this category.”

Lim added, “The smartwatch market is being driven by three premium brands – Apple, Samsung and Huawei. We believe the ASPs will continue to rise over the next two to three years as these companies’ flagship models continue to lead. On the other hand, Apple’s success with its Watch SE model will likely spur others like Samsung to release similar variants, moving closer to the mass market. Over a three to four years timeframe, we see budget players like OPPO and realme gaining a significant share, intensifying overall competition and bringing down the prices.”