KOMPAS.com – The worldwide smartwatch market is exhibiting constructive developments. In accordance with the most recent report from analysis agency Counterpoint, the worldwide smartwatch market within the third quarter of 2023 elevated 9 % in comparison with the identical quarter in 2022.
That progress was pushed by sturdy shipments in various markets, together with India and China. In India, the expansion within the variety of smartwatch shipments was led by the well-known Indian model, Fireplace-Bolt.
Of the overall share of world smartwatch shipments, 35 % are marketed in India. This determine makes India the most important contributor to the worldwide smartwatch marketplace for the final three consecutive quarters.
In the meantime in China, one of many drivers of the smartwatch market is the Huawei model which is beginning to rise within the smartwatch market.
In accordance with Counterpoint, Huawei is main the expansion in shipments of Excessive-level Working System (HLOS) smartwatches, particularly smartwatches which can be normally outfitted with excessive specs and costs.
Examples of good watches which can be categorized as HLOS are these operating Watch OS, Samsung OS or people who have the power to put in third-party purposes.
Huawei’s market share within the HLOS class continues to be low when in comparison with Apple and Samsung. Nonetheless, Huawei’s progress share within the third quarter of 2023 outperformed these two manufacturers.
The expansion development in international smartwatch shipments is kind of fascinating contemplating the unstable international financial situations. Other than that, this situation can be inversely proportional to the smartphone market which continues to be comparatively sluggish.
“Within the midst of the worldwide financial slowdown, most shopper system markets comparable to smartphones are nonetheless stagnant in comparison with final 12 months. Then again, the smartwatch market recorded progress for 2 consecutive quarters in each the premium and low-cost smartwatch segments,” mentioned Counterpoint analyst, Woojin Son, quoted by KompasTekno from the official Counterpoint web site, Monday (4/12/2023).
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Apple is the defending champion
Although international smartwatch progress within the third quarter of 2023 was pushed by Fireplace-Bolt and Huawei, normally Apple nonetheless leads the world smartwatch market. On this interval, Apple recorded a rise in shipments of seven % in comparison with the third quarter of 2022.
In accordance with Counterpoint, Apple’s progress was pushed by shipments of the second-generation Apple Watch SE. This smartwatch was launched by the corporate in September final 12 months together with the Watch Sequence 8 and Watch Sequence Extremely.
Counterpoint didn’t specify the share of Apple’s international market share. Nonetheless, if we hint it primarily based on the HLOS class, Apple’s market share within the third quarter of 2023 is 45 %.
Samsung trails Apple with a market share of 18 % within the HLOS class. The determine has decreased in comparison with the third quarter of 2022, particularly 24 %.
On the whole, Samsung smartwatch shipments additionally fell by 19 %. In accordance with Counterpoint, the trigger is the decline in shipments of older fashions of Samsung smartwatches.
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In the meantime, Huawei posted vital efficiency with a rise in shipments of as much as 56 % in comparison with the third quarter of 2022. Within the HLOS class, the rise was even as much as 122 %.
In accordance with Counterpoint, the driving issue is the discharge of recent fashions together with the Watch 4 and 4 Professional within the second quarter of 2023 and the Watch GT 4 within the third quarter of 2023. One other issue is the bundle gross sales mannequin bought in varied gross sales channels.
| Model | Q3 2022 | Q3 2023 |
| Apple | 45 % | 45 % |
| Samsung | 24 % | 18 % |
| Huawei | unlisted | 14 % |
| Others | 24 % (together with Huawei) | 23 % |
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