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Counterpoint: Apple Watch still dominates the smartwatch market worldwide

Although the shipments of smartwatches dropped compared to last year, shipment for Apple watches improved by 19 percent!
Counterpoint: Apple Watch still dominates the smartwatch market worldwide
File photo of Apple Watch SE

Apple, Samsung, and Huawei are predicted to lead by 2 to 3 years

The ongoing crisis due to the pandemic affected the global smartwatch market negatively, except for Apple. The Cupertino giant was the single largest smartwatch maker during the last quarter of 2019 since it has a 34 percent share in the market. For Q4 2020, it managed to control 40 percent of the share.

According to Counterpoint, Apple is the top-selling brand in the smartwatch industry, followed by Samsung with just a 10 percent share. This excellent performance of the company can be attributed to the successful launch of the Apple Watch SE as a mid-range wearable. 

A Counterpoint analyst named Sujeong Lim explains that Apple watches are improving their market share even though they are expensive. It means that smartwatches with higher Average Selling Prices are benefiting from higher demand. Lim added, 

The smartwatch market is being driven by three premium brands—Apple, Samsung, and Huawei. We believe the ASPs will continue to rise over the next two to three years as these companies' flagship models continue to lead. On the other hand, Apple's success with its Watch SE model will likely spur others like Samsung to release similar variants, moving closer to the mass market.

In February, the company reached 100 million Apple Watch shipments as its milestone. Counterpoint predicted the global smartwatch market is seeing a rise in average selling price from brands like Apple, Samsung, and Huawei. This trend will possibly continue this year.

What do you guys think?

Source: Counterpoint

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