India -- NOISE: A Rapid Growth Market of Smart Wearable
According to recent data released by Counterpoint, global smartwatch shipments exceeded 40 million units in the fourth quarter of 2021, creating the highest quarterly sales volume ever.
With the release of the fourth quarter data report, the global smartwatch performance in 2021 has also achieved a breakthrough with a year-on-year growth of 24%. Under the influence of the global epidemic, smart watches, as a sub-category of consumer electronics, have continued to grow for many years.
In terms of regional market performance, the Indian market once again showed rapid growth, from 3% in 2020 to nearly 10% share.
Looking at the market segment, the market demand for low-to-mid-end smartwatches under $100 is still strong.
And health management smartwatches with blood pressure, electrocardiogram, and blood oxygen saturation detection are still the focus of the consumer market.
In addition, smart watches that support independent cellular network connections and can be used as independent wear will also usher in new growth points.
Global TOP smartwatch brand performance
Apple: Apple still ranked first in terms of shipment share in the quarter, but its market share declined by nearly 3 percentage points year-on-year due to intensified market competition. Since Apple did not release an SE model in 2021, the average price of its products rose by 3%. Judging from the performance of shipments, Apple Watch still accounts for half of the total revenue of the global smartwatch market.
Samsung: Thanks to the launch of two models of the Galaxy Watch4 series, Samsung began to explode in the third quarter, becoming the most prominent brand manufacturer in sales in 2021. Among them, the sales volume in the third quarter increased by more than 200% month-on-month, and the good momentum has continued, and it still achieved good results in the fourth quarter.
Huawei: Despite the continuous sanctions imposed by the US government, although Huawei has launched several new flagship phones and smartwatches for children, shipments will inevitably decline year-on-year. However, Huawei's Watch GT3 released in the fourth quarter and Watch Fit Mini released in the European market helped its shipments more than double quarter-on-quarter.
Amazfit: Although Amazfit's market share did not increase significantly in the fourth quarter, its shipments have grown by more than 20% year-on-year in the past two years. In addition, the high-end flagship models GTS and GTR series have gradually increased in their own shipment ratios, and the average price of the products has quietly increased by 11%.
Garmin: Garmin's performance in 2021 is better than expected. In recent years, the product strategy has been adjusted, and the research and development and release of products that focus on design and cost-effectiveness have gradually increased, achieving a year-on-year growth of 35%, and the market share is also squeezed. 6th place in the world.
Fitbit: In contrast, Fitbit's sales performance has been weak. Possibly affected by the combined operations with Google, there have been no new product launches since the Sense and Versa 3 models were launched in the third quarter of 2020. Shipments in 2021 will drop by more than 15% year-on-year, which may change considering the release of Versa 4 in the second half of this year.
Xiaomi: Xiaomi performed strongly in the first half of 2021 with its Mi Watch Lite, and also released a new watch Redmi Watch 2 series in the fourth quarter, the Lite version of which is expected to continue the growth momentum through cost performance.
Noise: As the ace of Indian smartwatches, Noise is the fastest growing brand in 2021, leading the Indian smartwatch market. Relying on its strong local partnership resources and diversified products for the mid-to-low-end market, Noise has become the third largest brand manufacturer in the Asia-Pacific region by shipments excluding China.