The research firm attributed the expansion of the Indian market as one of the growth drivers. “The Indian smartwatch market accounted for only 3% of the global market in 2020, but it grew four times in 2021 to raise its global market share to close to 10%,” it said.
iPhone-maker Apple<\/a> maintained its no. 1 position in the market with a 30% market share, even though its share fell by 3% points year-on-year due to intensified competition.
Samsung<\/a>, in the second position, had a 10.2% market share. The Korean brand was “one of the most successful smartwatch OEMs (original equipment manufacturers) in 2021”, Counterpoint said.
Samsung<\/a> grew 200% quarter-on-quarter in Q3 2021. The research firm said the partnership with Google<\/a> for the Wear OS has “worked well” for the brand.
Huawei stood in the third position with a 7.7% share, followed by imoo (5.2%), Amazfit (5.1%), Garmin (4.6%), Fitbit (3.8%), Xiaomi (3.6%), and Noise<\/a> (2.6%).
“With their ability to monitor important health parameters like blood pressure, ECG and SPO2, these devices<\/a> are becoming popular. Further, the attractiveness of smartwatches as independent wearable devices<\/a> will increase if more of them start supporting cellular connectivity,” said Sujeong Lim, Associate Director, Counterpoint Research<\/a>.
Counterpoint Research’s Senior Research Analyst Anshika Jain summarized that Noise<\/a> is the no. 1 Indian smartwatch brand and leads the growth of the local market.
Jain noted Noise’s diverse product portfolio targeting the budget and mid segments, as well as strong partnerships with e-commerce players, financial institutions, and celebrities along with community building and shifting towards the lower price side helped the brand rank third in terms of shipments after Apple<\/a> and Samsung in the APAC region except China in 2021.
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