India dominates the global smartwatch market
Smartwatches are a part of our life now, and it looks like India is the top country to have the best sellings.
Counterpoint, a well-known publication known for its research on the marketing side of technology, has released a new estimate on global shipments of smartwatches for the third quarter of 2022. According to the report, the global smartwatch market has grown by more than 30% annually since the year 2022 began. India has taken the top spot and is now the largest smartwatch market in the world, growing at a rate of over 171% annually.
India dominates the global smartwatch market
Apple is the market leader, boasting a market share of more than 50% and an increase of 48% year over year. The remaining brands are Samsung, Amazfit, Huawei, Garmin, and others. Samsung saw a 62% QoQ increase, largely due to its Galaxy Watch 5 series. However, due to a decrease in its market share in India of less than 3%, Samsung's shipments only increased by 6% year over year.
Noise leads the basic smartwatch market with a 25 percent share, followed by Fire-Boltt with 24 percent, BoAt with 16 percent, Xiaomi with 4.2 percent, and Huawei with 3.2 percent. After Apple and Samsung, Noise, a company founded in India, has moved up to third place in the world's smartwatch rankings.It has increased by a staggering 218 percent annually.
