Smartwatch Market Grows 24% YoY in 2021, Huawei ranked 3rd

According to the Counterpoint research, the global smartwatch market shipments hardly grew in 2020 due to COVID-19, but they recorded a healthy 24% YoY growth in 2021. The fourth quarter alone saw shipments of more than 40 million units.

Associate Director Sujeong Lim said, “The global smartwatch market’s good growth in 2021 is meaningful in itself, but it is more meaningful in that it makes us look forward to future growth. With their ability to monitor important health parameters like blood pressure, ECG and SPO2, these devices are becoming popular. Further, the attractiveness of smartwatches as independent wearable devices will increase if more of them start supporting cellular connectivity.”

1st: Apple ranked on the top with a 30% market share but fell 3% points YoY due to intensified competition.

2nd: Samsung was one of the most successful smartwatch OEMs in 2021. Its QoQ growth was more than 200% in the third quarter to record the brand’s best shipments ever.

3rd: Huawei launched high-end new models and kids’ smartwatches despite continued US sanctions, but inevitably its shipments would decline YoY.