Global Smartwatch Shipments Grew 20% in Q1 2020 [Report]

Global Smartwatch Shipments Grew 20% in Q1 2020 [Report]

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Global smartwatch shipments grew 20% year-over-year to 14 million units in the first quarter of 2020, according to Strategy Analytics. Apple took first place with 55% global marketshare, followed by Samsung in second, and Garmin in third.

Steven Waltzer, Senior Analyst at Strategy Analytics, said, “Global smartwatch shipments grew 20 percent annually from 11.4 million units in Q1 2019 to 13.7 million in Q1 2020. Despite considerable headwinds from the Covid-19 scare, global demand for smartwatches continued to grow. Smartwatches are selling well through online retail channels, while many consumers have been using smartwatches to monitor their health and fitness during virus lockdown.”

Neil Mawston, Executive Director at Strategy Analytics, added, “Apple Watch shipped 7.6 million units worldwide in Q1 2020, rising an above-average 23 percent from 6.2 million in Q1 2019. Apple’s global smartwatch marketshare has grown from 54 percent to 55 percent, its highest level for two years. Apple Watch continues to fend off strong competition from hungry rivals like Garmin and Samsung. Apple Watch owns half the worldwide smartwatch market and remains the clear industry leader.”

Woody Oh, Director at Strategy Analytics, added, “We expect global smartwatch shipments to slow sharply in the second quarter of 2020, due to the ongoing Covid-19 pandemic. Sales in Europe and the US have inevitably been hit by virus lockdown in recent months. However, the second half of this year and beyond will see a decent rebound, as consumers worldwide steadily regain confidence and more retail stores reopen. Smartwatches continue to have excellent long-term prospects, as younger and older people will become more health-conscious in a post-virus world. Smartwatches can monitor vital health signs, such as oxygen levels, and consumers may find comfort in having a virtual health assistant strapped to their wrist.”

More details in the full report linked below...

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Global Smartwatch Shipments Grew 20% in Q1 2020 [Report]