When in 2014 Tim Cook introduced the Apple Watch, many doubted its success. It was a 500 Euro digital watch that was of little use if you didn't have an iPhone in your pocket. "This is going to be a failure for Apple," more than one predicted.
Next month it will be six years since that keynote, and Apple will launch the sixth series of its Apple Watch. It has gained a lot of new features since then, its screen never turns off anymore and now it flies free without having to carry the iPhone too. And on top of that, it is the undisputed leader in smartwatch sales this difficult year.
The global smartwatch market has posted healthy growth in total sales revenue of 20% despite the COVID-19 pandemic, according to the latest research. published by Counterpoint Research. The top three brands, led by Apple, contributed more than 69% of total market revenue in the first half of 2020.
The Apple Watch continues to dominate the smartwatch market both in volume of units sold and in turnover. Apple has managed to get half of the market in terms of revenue due to the strong demand for the models of the Apple Watch Series 5.
In terms of units sold, the Apple Watch grew a 22% globally, with Europe and North America being the fastest growing markets in the first half of 2020. The two best-selling smartwatch models globally during this time period were the Apple Watch Series 5 and Apple Watch Series 3 .
“The smartwatch niche market remains a popular segment of consumer devices, compared to the slowdown seen in demand for smartphones and many other segments in the first six months of 2020 due to the devastation caused by the COVID-19says Sujeong Lim, a senior analyst at Counterpoint.
He adds in the article that consumers today are much more concerned about their health. Areas like the India, Europe and United States, the regions hardest hit by the virus, recorded very strong growth in smartwatch shipments that offset the decline in other markets.