With the big companies developing their own technology ecosystem, the smart watch market is also in a significant development. The growth experienced in the sector in 2022 was revealed with a report published by Counterpoint Research.
Apple dominates 60 percent of smartwatch market revenues
According to the published report, there has been an increase in the trend towards smart watches in the last year. The smartwatch world, which showed an increase of 12 percent compared to last year, continued its development despite concerns about the economic slowdown and inflation. Apple attracted attention in the industry.
Apple closed 2021 with a share of 32.6 percent. Increasing this rate last year, the company holds the leadership of the global smart watch market with a share of 34.1 percent in total sales. Additionally, Apple accounted for 60 percent of the revenue from the market.
It seems that Apple has achieved this leadership in the last 3 months. The company had a significant shipment success with the Apple Watch Series 8, Apple Watch Ultra and Apple Watch SE models, which were released in the autumn of last year.
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On the other hand, Samsung took the second place with a 12 percent increase in shipments and a 9.8 percent market share. Huawei, which has suffered from the US embargo for years, is in the third place with a market share of 6.7 percent. Names such as Noise and Fire Boltt also have an important share in the list.
The most active market of the smart watch industry was North America with 29 percent. On the other hand, India made a great leap forward to second place and pushed China to third place. Finally, products under $100 with 39 percent appeared in the market.