According to the latest research from Strategy Analytics, global smartwatch shipments grew an impressive 67 percent annually to reach 10 million units in the third quarter of 2018.
Apple Watch maintained first position with 45 percent global smartwatch marketshare, while Fitbit jumped into second place, overtaking Samsung and Garmin.
Steven Waltzer, Industry Analyst at Strategy Analytics, said, “Global smartwatch shipments grew an impressive 67 percent annually from 6.0 million units in Q3 2017 to 10.0 million in Q3 2018. Smartwatch growth is soaring, as consumers increasingly seek to accessorize their smartphones.”
Neil Mawston, Executive Director at Strategy Analytics, added, “Apple shipped 4.5 million smartwatches worldwide in Q3 2018, rising 25 percent from 3.6 million units in Q3 2017. While far ahead of the chasing pack, Apple’s global smartwatch marketshare slipped to 45 percent this quarter, down from 60 percent a year ago. Apple is facing growing competition from a revitalized Fitbit and Samsung, and the recent launch of Apple’s new Watch Series 4 model was a badly needed addition to its armory.”
Steven Waltzer, Industry Analyst at Strategy Analytics, added, “Fitbit shipped 1.5 million smartwatches worldwide and captured 15 percent global smartwatch marketshare in Q3 2018, rising strongly from zero marketshare a year ago. 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.”
Neil Mawston, Executive Director at Strategy Analytics, added, “Samsung captured 11 percent global smartwatch marketshare in Q3 2018, lifting slightly from 10 percent in Q3 2017. This was Samsung’s first marketshare gain in the smartwatch segment for over a year. Its new Galaxy Watch range is selling fairly well, due to improved hardware design and aggressive marketing. Meanwhile, Garmin held fourth position and captured 8 percent worldwide smartwatch marketshare during Q3 2018, dipping from 10 percent 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.”
Exhibit 1: Global Smartwatch Vendor Shipments and Marketshare in Q3 20181
|
Global Smartwatch Vendor Shipments (Millions of Units) |
Q3 ’17 | Q3 ’18 | ||||
| Apple | 3.6 | 4.5 | ||||
| Fitbit | 0.0 | 1.5 | ||||
| Samsung | 0.6 | 1.1 | ||||
| Garmin | 0.6 | 0.8 | ||||
| Others | 1.2 | 2.1 | ||||
| Total | 6.0 | 10.0 | ||||
| Global Smartwatch Vendor Marketshare (% of Total) | Q3 ’17 | Q3 ’18 | ||||
| Apple | 60.0% | 45.0% | ||||
| Fitbit | 0.0% | 15.0% | ||||
| Samsung | 10.0% | 11.0% | ||||
| Garmin | 10.0% | 8.0% | ||||
| Others | 20.0% | 21.0% | ||||
| Total | 100.0% | 100.0% | ||||
| Total Growth YoY (%) | 22.4% | 66.7% | ||||
| Source: Strategy Analytics | ||||||
The full report, Global Smartwatch Vendor Market Share by Region: Q3 2018, is published by the Strategy Analytics Wearable Device Ecosystems (WDE) service, details of which can be found here: https://tinyurl.com/ycd6mb4n.
About Strategy Analytics
Strategy Analytics is a global, independent research and consulting firm. The company is headquartered in Boston, USA, with offices in the UK, France, Germany, Japan, South Korea, Taiwan, India and China. Visit www.strategyanalytics.com for more information.
1Numbers are rounded.
