The Smartwatch industry has grown at an incremental pace in recent years. Most of this growth is spearheaded by the industry leader Apple. A new market analysis report has just landed confirming the continuous increase in the market. It looks like the industry maintained the trend in the first quarter of the year as coronavirus spread. According to the report, smartwatch shipments grew by 20 percent to cross the 14 million mark in Q1 2020. For context, the industry noted 11.4 million shipments back in Q1 2019. Let’s check out the smartwatch shipment report in detail here.
Smartwatch shipment details
According to Strategy Analytics, most of the industry continued to grow with the help of online retail channels. Users continued to make purchases to monitor their health during the coronavirus lockdown across the globe. The report also revealed the market share of different companies in the market. As per the report, Apple currently holds 55.5 percent market-share with Samsung holding a 13.9 percent share. Garmin holds about 8 percent while other brands noted a 22.6 percent share. Checking the market-share from Q1 2019, Samsung and other brands observed a decrease while Apple and Garmin increased.
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Further diving in the data, Apple stayed on the top with 7.6 million shipments and 22.6 percent growth. Samsung noted an 11.8 percent growth with 1.9 million shipments. However, Garmin saw the largest growth with 37.5 percent growth with 1.1 million units. The report indicated that improved models such as Venu and OLED touchscreens helped the company achieve this growth.
Other companies also noted an increase of about 14.8 percent with 3.1 million units. The report also noted that Apple Watch holds half of the smartwatch industry with a commanding lead. It also indicated a sharp decrease in the industry in Q2 2020. Sales across the globe have been hit by the coronavirus and strict lockdown measures.