01
The total sales volume was 31.58 million, a year-on-year increase of 17%
Based on market report, the total sales volume of smartwatches in Q2 in 2022 is 31.58 million, a year-on-year increase of 17% and a month-on-month increase of 7%. Overall, the Q2 smartwatch market in 2022 is on the rise, and it is expected that Q3 will exceed 40 million.
We believes that with the rising popularity of smart watches, the products will constantly update, content will be more, and the system will be more complete. Moreover, there will be more consumer interest in smartwatches as accessories and fitness trackers, so the market will further expand in near future.
02
Sales regional share: China and India’s market share continue to increase
In Q2 2022, global smartwatch shipments mainly come from four regions: China, India, Europe, and the United States. Among them, China ranked the first with a market share of 28%, India accounted for 21%, Europe and the United States accounted for 20% and 12% respectively.
Compared with Q1 in 2022, the market shares of China and India have been further improved. Among them, the demand growth in India is even more obvious, from 13% in Q1 to 21%, a month-on-month increase of 62%. In stark contrast, Europe & the United States and other regions have a decline in market share.
We can noted that the Indian smartwatch market is more active than expected. Thanks to the increased promotion of brands such as Noise, boAt and Fire-Boltt, one-third share of smartwatches in India are sold offline. The highest share ever in market
03
TOP10 Brand sales: Three major brands performance in India
In the Q2 quarter of 2022, the top sales of five brands are Apple, Huawei, Samsung, Noise and Little Genius. Among them, Apple accounts for 29% of the TOP10 brands, followed by Huawei with 17%.
|
TOP10 smart watch brand sales in Q2 in 2022 |
|||
|
Brand |
Ratio |
YoY |
|
|
1 |
Apple |
29% |
4% |
|
2 |
Huawei |
17% |
-6% |
|
3 |
Samsung |
12% |
40% |
|
4 |
Noise |
7% |
296% |
|
5 |
XTC |
7% |
17% |
|
6 |
Fire-Boltt |
7% |
1667% |
|
7 |
Garmin |
6% |
-17% |
|
8 |
Xiaomi |
5% |
-24% |
|
9 |
Amazfit |
5% |
-1% |
|
10 |
BoAt |
5% |
179% |
In this TOP10 list, the most outstanding performers are not Apple and Samsung, but three brands from India, Noise, Fire-Boltt and boAt. Among them, Fire-Boltt increased by 1667% year-on-year.
04
Feature highlights: GPS function accounts for 100%
We studied the most representative 10 best-selling models from the Q2 global smartwatch report in 2022, and conducts mainstream function analysis. So to find that all 10 models are equipped with GPS function. The NFC function is also popular, with this function models accounting for 80%.
In addition, in general, ECG is a common function of smartwatches, but from the analysis of TOP10 smartwatch brands, not all brand models have this function. Except for the children’s smartwatches on the list, there are only four models with ECG function.
In terms of communication function, only 50% of brand models have WiFi/4G functions. The main reason is that smart watches with WiFi/4G functions have low battery life. For example, AppleWatch Series 7 only lasts 18-25 hours once charged full.
05
Summary
The total sales volume of smartwatches in Q2 in 2022 is 31.58 million, a year-on-year increase of 17%. Overall, the smartwatch market will further grow in 2022.
In terms of sales regions ratio, the smartwatch markets in China and India have been further improved. Among them, the most obvious growth is in the Indian market, where the three major brands of Noise, Fire-Boltt and BoAt have performed quite well.
