Apple Watch captured a 55% market share of the smartwatch market during the first quarter of 2020.
According to a new Strategy Analytics report , worldwide shipments of smartwatches in the first three months of this year have experienced incredible growth thanks to strong online sales, despite the impact of the global health crisis.
Shipments grew 20% year-on-year in the first quarter, reaching 13.7 million units , compared to 11.4 million units in the previous quarter. Apple Watch maintained first place with a 55 percent market share , followed by Samsung and Garmin.
In the first quarter of 2020, 7.6 million Apple Watches were shipped , a 23% increase over the 6.2 million shipped in the same quarter a year ago. Apple Watch’s market share has increased marginally from 54% to 55%.
Samsung shipped 1.9 million smartwatches, compared to 1.7 million last year, but its market share declined from 15% to 14% due to a combination of the South Korean health crisis and fierce competition from Garmin and others.
Garmin shipped 1.1 million units, up from 800,000 units a year ago. This is a 38 percent year-on-year increase and Garmin’s market share growth from 7 to 8 percent.
Strategy Analytics expects growth to slow in the second quarter of 2020 , with a recovery in the second half of the year, when retail stores reopen and consumers will buy smartwatches to monitor their health.
Steven Waltzer, Senior Analyst at Strategy Analytics, said:
“Global smartwatch shipments grew 20 percent annually from 11.4 million units in the first quarter of 2019 to 13.7 million in the first quarter of 2020. Despite the health crisis, global smartwatch demand has continued to grow. Smartwatches are selling well through online sales channels, while many consumers have used smartwatches to monitor their health and fitness during the lockdown. “
Apple will launch the Apple Watch Series 6 this fall with additional health-related features including blood oxygen level monitoring, sleep monitoring and a new fitness app.