Apple Watch garners 51% global market share, India sweet spot
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Packed with industry-leading health and fitness tools, Apple Watch has once again dominated one of the key wearable segment, leading the smartwatch category with a 51 per cent global share in 2020 and further cementing its position in the India market, according to latest reports this week.
Watches grew significantly as demand for wrist bands declined during the year, witnessing a 139.3 per cent (on-year) growth with 2.6-million unit shipments last year.
According to the IDC, smartwatches, which can run third-party applications on the device itself, accounted for a 24.5 per cent share in the watch category and Apple continues to lead the smartwatch category with a massive 51 per cent share in 2020.
"In India, mainly Watch 3 and Watch 6 led to the growth in 2020. Apple Watch has been well received by the Indian consumers," Navkendar Singh, Research Director, Client Devices & IPDS, IDC India, told IANS.
Price reductions on older Apple Watches and the promotional discounts offered by banks and e-tailer channels on Series 5 and Series 6 made the device a popular purchase among consumers in India.
According to Jaipal Singh, Associate Research Manager, Client Devices, IDC India, the high cost associated with wearable watches is not much of a challenge anymore.
"Also, the watch form factor is now seen as more appealing to the consumers, and vendors will leverage this shift by further expanding their watches portfolio in coming quarters," he added.
Counterpoint Research said that Apple Watch Series 6 and SE did well globally, shipping 12.9 million units and accounting for 40 per cent market share in Q4.
"In a year where annual growth inched forward at only 1.5 per cent, Apple maintained its solid number one position and increased its market share by 6 per cent, helping shift the overall market closer to the premium segment," it said.
Apple Watch users can view their cardio fitness levels in the Health app on iPhone, and receive a notification if it falls within the low range.
Apple Watch already estimates average and higher levels of VO2 max during vigorous outdoor walks, runs, or hikes, which many runners and other athletes monitor to improve performance.
Apple Watch also has several other health features like ECG, Fall Detection and more.
