A new report has found that Apple remains the smartwatch market leader, but suggests Xiaomi is rising.
Counterpoint Research’s latest report found that smartwatch shipments have grown significantly in recent years, and in the past year along, the smartwatch market recorded 13% more shipments, despite supply chain challenges and concerns over an economic downturn.
“We initially expected the war between Russia and Ukraine to have minimal impact on the market in Q1, but the prolongation of the conflict and the resulting logistical constraints have begun to affect the European region. The impact of the war will become more serious in Q2,” the company said.
One thing that’s particularly interesting to note about the latest data is that Apple’s no longer at the top spot when it comes to the premium segment – instead, Garmin has the highest share of the $500+ market, offering a premium experience and features like solar charging and rugged designs.
Another interesting tidbit is the rise of Xiaomi – it’s now in fourth place, and has enjoyed 69% year over year growth. On the other hand, Fitbit saw its market share fall for the first time, as it’s launched no new models since its Google acquisition.
Are you pleased to see Apple out on top? Let us know and check back soon for more!
