Smartwatch shipments grow to 10 million Units in Q3 2018

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Apple Watch and Fitbit lead global smartwatch market as shipments rocket

Global smartwatch shipments grew by well over half annually to reach 10 million units in the third quarter of 2018. Apple Watch maintained first position with 45% global smartwatch marketshare, while Fitbit jumped into second place, overtaking Samsung and Garmin, according to the latest research from Strategy Analytics.

Steven Waltzer, industry analyst at Strategy Analytics, said: “Global smartwatch shipments grew an impressive 67% annually from 6 million units in Q3 2017 to 10 million in Q3 2018. Smartwatch growth is soaring, as consumers increasingly seek to accessorise their smartphones.”

Apple shipped 4.5 million smartwatches worldwide in Q3 2018, rising 25% from 3.6 million units in Q3 2017.

Neil Mawston, executive director at Strategy Analytics, said: “While far ahead of the chasing pack, Apple’s global smartwatch marketshare slipped to 45% this quarter, down from 60% a year ago. Apple is facing growing competition from a revitalised Fitbit and Samsung, and the recent launch of Apple’s new Watch Series 4 model was a badly needed addition to its armoury.”

Fitbit shipped 1.5 million smartwatches worldwide and captured 15% of the global smartwatch marketshare in Q3 2018, rising strongly from zero marketshare a year ago. Commented Waltzer: “Fitbit is now the world’s second largest smartwatch brand. Its Versa portfolio is proving wildly popular across North America. Fitbit has further scope for growth next year by pushing deeper into Europe, Asia and Latin America.”

Samsung captured 11% of the global smartwatch marketshare in Q3 2018, lifting slightly from 10% in Q3 2017. This was Samsung’s first marketshare gain in the smartwatch segment for over a year.

Commented Mawston: “[Samsung’s] new Galaxy Watch range is selling fairly well, due to improved hardware design and aggressive marketing. Meanwhile, Garmin held fourth position and captured 8% worldwide smartwatch marketshare during Q3 2018, dipping from 10% a year ago. Rising competition from Fitbit, Samsung and others in the sports and music categories is making it harder for Garmin to make headway in smartwatches.”

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