According to new data from Counterpoint Research, Apple Watch Series 8 models accounted for about 56% of the overall shipments in the third quarter of 2022. The smartwatch market as a whole also experienced growth during Q3, 2022, with market shipments seeing a 30% year-over-year over.
Apple’s smartwatch market share continues to grow with the help of Apple Watch Series 8
As per research firm Counterpoint’s analysis, Apple experienced significant growth of 48% year-over-year thanks to its new Apple Watch Series 8 lineup which debuted in September. In addition, the lineup accounted for about 56% of the overall shipments.
In the last quarter, the Cupertino tech giant captured half of the market for high-level operating system (HLOS) watches. Apple did experience a slight decrease from its 54% market share in Q2, 2022, due to a decrease in shipments to Europe and North America.
Samsung increased its shipments by 62% quarter-over-quarter by launching the new Galaxy Watch 5 series, while its market share in the HLOS segment increased by 5% quarter-over-quarter.
As for Apple’s competition, Samsung came in second overall. The company increased its shipments by 62% quarter-over-quarter with its new Galaxy Watch 5 series. However, its overall market share was down 2.7% year-over-year.
A company called Noise grew a staggering 218% year-over-year, allowing it to rank third in the global market. Noise also ranked first in India. In the last quarter, Fire-Boltt was able to maintain its fourth place in the global market despite tight competition with Noise.
Coming in at number five, Huawei grew 65% year-over-year globally. Oat secured the sixth spot as it crossed two million shipments in the last quarter.
Lastly, Garmin experienced growth of 11% since its average selling price of around $365. However, the company’s shipments fell flat compared to 2021.
As for the overall market, India is now the biggest smartwatch market globally. The region experienced 171% growth year-over-year during the third quarter.
Despite India’s recent growth, the region still comes in at second place compared to North America which grew 21% year-over-year in the last quarter. This is because North America remained the largest market from Q4 2020 to Q2 2022.
During the third quarter, China’s shipments fell by 28% year-over-year. This is because the region has been struggling with COVID outbreaks as well as an unstable economy.