Global market of smartwatches has been thriving at unprecedented rate, thanks to the advanced and robust technology. Smartwatches packed with powerful as well as needy features, naturally fascinates customers. More demands for the watches laed to healthy competition among the renowned manufacturers and paved the way for new entrants in the sector. The latest report by the research firm Strategy Analytics (Via PhoneArena), made the detailed analysis of smartwatches market and presented the report with the recent trends in this segment. According to the report Apple is still the dominanting the market with it’s 51% of global market share in 2018.
Closer look at the report reveals that, with 22.5 million units sold Apple Watch has been the biggest player in the sector with more than half of the global share. As this report reveals, Fitbit is the second biggest player sidelining the Samsung. As Fitbit shipped 5.5 million units in 2018 which compelled the Samsung to grab third position with 5.3 million units sold out. Fitbit Versa gained wide popularity among the users due to its affordable prices with all inclusive features. Garmin shipped 3.2 million products and acquired 4th place in the row.
At the moment though things look good for the Apple, the fact is that Apple’s global market share has reduced to 51% compared to last year’s 67%. Obviously Apple Watch lost this marketshare to it’s rivals Fitbit and Samsung. Fitbit managed to reach the second position with almost 12.2 % market share in 2018.
However, with the launch of it’s premium Galaxy Watch Samsung has improved marketshare to 11.8% in 2018 and grabbed 3rd position. Fourth place in the list is secured by Garmin with it’s 7.1% marketshare.
This report makes it clear that these four companies have acquired larger space in the smartwatch market. The report contains in depth analysis from which it is clear that smartwatch market is growing rapidly. Let’s see what changes will be there in 2019 as many reputed manufacturers such as Huawei are in the arena.