According to new research, the worldwide Smartwatch industry will reach 127.5 million pieces in 2021, with 42.4 million units shipped in the fourth quarter. While Apple Watch 7 series launch has been pushed back to the fourth quarter, market research firm Counterpoint claims that Samsung has strengthened its market position in 2021 with the successful introduction of the Galaxy Watch 4 series.
“The smartwatch market still has room to grow, and shipments are yet centred around advanced markets such as North America and Europe,” the company said in a statement.
“The Indian smartwatch market was similar in size to MEA or LATAM in 2020, but recorded explosive growth of four times in 2021, achieving a share of close to 10 per cent,” it added.
With the success of the Apple Watch, Watch OS now accounts for over a third of the market. Samsung’s transition from Tizen to Wear OS will be the most significant change in wristwatch OS in 2021. As a result, Google’s Wear OS has grown its market share from 3% in 2020 to 10% in 2021. According to the survey, China is the largest market for children’s smartwatches, and as a result, it will rank second in regional markets in 2021, only behind North America.