This watch helped Apple continue its No. 1 position in global smartwatch market: Report

Apple continues to lead the worldwide smartwatch market. According to the latest data from research firm Counterpoint, the Cupertino giant mantains its dominance over the global smartwatch market both in volume and value. Apple captured a record half of the market in terms of revenue due to strong demand for Apple Watch Series 5 models. In terms of shipment volumes, Apple Watch grew 22% globally with Europe and North America being the fastest-growing markets in the first half of 2020, as per Counterpoint data.

Apple launched Apple Watch Series 5 in September 2019. The key features of the smartwatch are always-on Retina display, built-in compass and international emergency calling. Apple Watch Series 5 is available at Rs 36,900 onwards in India.

The research firm also said that unlike the smartphone and other markets, the smartwatch segment remains a popular consumer device segment. Close to 42 million smartwatches were shipped in the first half of 2020 as wearables continue to see greater demand with consumers becoming more health conscious.

Incidentally, smartwatch sales in India saw the biggest year-on-year growth of 57%. This is followed by Europe at 9% and the US at 5% year-on-year. The healthy growth in these geographies helped offset the decline smartwatch shipments in other markets.

As for competitive landscape, China's Huawei saw healthy volumes. The company jumped to the second spot globally in the first half of 2020. Huawei is said to have benefitted from significant demand for its smartwatches, especially the Watch GT2 series in its home market China and Asian markets, with shipment volumes growing 90% in both the regions.

Garmin, the second-largest brand in terms of revenue globally, continued to make strides cornering the sports enthusiast and athlete market. Europe and North America remain the key markets for the company. It saw healthy demand for its Forerunner and Fenix line, with the duo making up one of the broadest portfolios of smartwatches in the market.

Talking about fast-growing brands, Vice President Research Neil Shah said, "Amazfit (+51% YoY) and Xiaomi (+47% YoY) made healthy strides during the first half with expanding portfolios and better geographic reach. China, India and the rest of Asia remain central to these brands’ growth story. Samsung faced some headwinds during the first half, but the launch of Galaxy Watch 3 in the second half could drum up some demand for the Korean vendor. Fitbit, Ticwatch and Suunto faced some tough competition from Garmin and Apple during the first half and will thus look forward to ramping up initiatives to ignite the demand during the holiday season."