Technology has provided us with mind-blowing innovations, which people deemed ‘impossible’ some years back. Smartwatches are one of these creations, and in recent years the demand for them has increased. Because who wouldn’t want a gadget that gives them all the information on their wrist, quite literally!
According to recent statistics from Canalys, shipment of smartwatches has seen a significant increase. Meanwhile, the same number for smartbands has reduced. In the first quarter of 2022, companies shipped 41.7 million smart bands and watches worldwide.
Out of this number, 32 million were smartwatches, which depicts that the product saw a 15% hike as compared to Q1 of 2021. Meanwhile, bad news for smartband manufacturers as they experienced a 37% decrease in shipments, and the number could plummet further.
The demand for smartwatches has gone up, and multiple factors play into this. Due to their functionality and better ability to track activity and health, they have become an attraction for customers.
Smartbands shipment decreases
The decrease in smart band shipment comes as no surprise; the number has been dropping consecutively since 2020. When it comes to smartwatches, Apple tops the list as it shipped 9.2 million units in the first quarter.
Apple’s Watch Series remained in high demand, as the company earned 22.1% of global market shares, showing a 21% growth over last year.
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After the trillion-dollar company, Huawei ranks second, whose watches were also valued by consumers across the globe. The company shipped 4.6 million shipments worldwide with an 11% market share. While the number is impressive, it is 5% lesser than in 2021.
Despite experiencing a staggering 41% decrease, Xiaomi ranked third with a 10.1% market share and 4.2 million shipments. Samsung came next with 3.4 million shipments, which is the same as Q1 of 2021. On the other hand, Fitbit also saw a decrease in its growth; its shipment went from 3.1 million last year to 2.9 million in Q1 of 2022.