Apple leads global smartwatch market in H1 2020; followed by Garmin, Huawei

While Apple benefitted from strong demand for the Watch S5 models, Huawei saw healthy demand for the Watch GT2 series and Garmin for its Forerunner and Fenix line.

Apple continues to enjoy the lion's share of the global smartwatch market revenue with 51.4 percent share in the first half of 2020, despite COVID-19 induced economic disruptions.

According to the latest data from Counterpoint Research, the global smartwatch market posted 20% revenue growth in H1 2020 with Apple, Garmin, and Huawei contributing more than 69 percent of the total market revenue.

In terms of revenue, Apple captured a record half of the global market (51.4%), followed by Garmin and Huawei with 9.4% and 8.3% share, respectively. While Apple benefitted from strong demand for the Watch Series 5 models, Huawei saw healthy demand for the Watch GT2 series and Garmin for its Forerunner and Fenix line.

Notably, Europe and North America were the fastest-growing markets for both Apple and Garmin while Huawei benefitted from home market China and Asian markets. In terms of shipment volumes, these were the best selling models by shipment volumes in H1 2020:

1. Apple Watch Series 5
2. Apple Watch Series 3
3. Huawei Watch GT2
4. Galaxy Watch Active 2
5. Imoo G3 4G

As for the fast-growing brands, Amazfit and Xiaomi posted health growth, 51% and 41% respectively, due to their expanding portfolios and better geographic reach. On the other hand, South Korean company Samsung faced some headwinds in H1 2020, as per the report.

Smartwatch features that are and will become more popular in future models include heart rate monitoring, cellular-capability, fall detection, and SPO2. One in four smartwatches shipped during the first half has cellular-capability while 60% of the smartwatches feature heart rate monitoring. Further, square form-factor which accounts for almost two-thirds of the smartwatches globally is also gaining momentum as it allows manufacturers to integrate additional sensors and maximize battery capacity.

For more insights on the global smartwatch market, read Counterpoint Research's full report here.