Apple Watch Series 8 took half of the smartwatch market in the third quarter of 2022

Apple Watch Series 8


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The global smartwatch market has grown in 2022, with roughly half of total shipments coming from Apple thanks to strong sales of the Apple Watch Series 8.

Counterpoint's latest analysis shows Apple posted 48% year-over-year growth thanks to strong sales of the Apple Watch Series 8, released in September. It accounted for approximately 56% of total smartwatch shipments.

In the third quarter of 2022, the company accounted for approximately half of the high-level operating system (HLOS) watch market. This is a watch that runs a high-level OS and is able to install third-party applications.

However, this is a slight decrease from the 54% seen in Q2 2022 due to the downturn in North America and Europe.

Smartwatch rankings

Samsung increased shipments by 62% qoq with the launch of the new Galaxy Watch 5 series, while its market share in the HLOS segment increased by 5% qoq.

Share of shipments of the world's top-selling smartwatch brands by device type, Q3 2022 Source: Counterpoint

Globally, Samsung was in second place, but with market share down 2.5% over last year.

Noise is up 218% year-over-year, reclaiming #1 in the Indian market and #3 in the global market. Fire-Boltt's market share was unchanged from the previous quarter and ranked second in India behind Noise.

Ranked fifth globally, Huawei grew 65% year-over-year, but posted zero shipments in India for the first time since 2018. Oat ranked sixth because it targeted the entry-level smartwatch market, as did Noise and Firebolt. During the quarter, shipments exceeded two million.

Finally, Garmin shipments are unchanged from 2021, but revenue is up 11% thanks to an average selling price of around $365.

Share of smartwatch shipments by region Q3 2022 vs Q3 2021 Source: Counterpoint

India is another example success as it became the world's largest smartwatch market in the third quarter, up 171% year on year.

However, it still ranks second in the world after North America, which remained the most prominent market from Q4 2020 to Q2 2022. Smartwatch shipments to this market are up 21% year-over-year.

Due to the ongoing “zero COVID” policy and subsequent economic downturn, China has fallen by 28% compared to last year. The market volume has been declining for the fourth quarter in a row.

The global smartwatch market grew 30% year-over-year, but that was driven by simple smartwatches, not HLOS devices like the Apple Watch.

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