Friday, Dec 02, 2022, 18:24 Apple Watch

The Success Of The Apple Watch Series 8 – Still Dominating The Smartwatch Market

The worldwide smartwatch market is still growing strong – despite high inflation rates, exploding energy costs, the war in Ukraine, and global crises. In the third quarter of 2022, sales numbers grew 30 percent in comparison to the previous year's. As was the case in the past, the Apple Watch remains the global bestseller. From July to September, Apple sold almost 50% more watches than during the same timeframe in 2021. However, Samsung's growth numbers surpassed even Apple's: The South Korean manufacturer registered a growth of 62% in sales – but, in second place with a 22.3% share of the market, the company still has a significant ways to go before catching up to Apple.

Apple Watch Series 8 – Global Bestseller
Apple's share of the smartwatch market is 50.6% according to the most recent analysis from Counterpoint Research. This figure represents a slight decrease of 4% in comparison to the second quarter of last year. The current economic situation in Europe and North America is to blame and the impact wasn't fully compensated for even with significant growth in other regions of the world, particularly in India. Apple primarily has the Apple Watch Series 8, released in September shortly before the end of the quarter, to thank for the increase in sales figures: 56% of all of Cupertino's smartwatch customers purchased an Apple Watch Series 8.



Smartwatch market shares for 2023's third quarter per Counterpoint

Amazfit & Huawei In Places 3 & 4
With a market share of 7.4%, Amazfit finds itself in place 3 of the rankings containing smartwatches with a "High Level Operating System" (HLOS). Counterpoint Research places all devices which support the installation of third-party apps in this category. 4th place is held by Huawei, with a global market share of 6.4% – followed by Garmin (4.5%). The latter, a US-American manufacturer, was the only company in the top 5 unable to exhibit any growth in sales numbers in comparison to the previous year. Garmin's total revenue, however, did increase by 11% according to the company – due to the higher average sales price of the devices.

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