Smartwatch market to grow by 20% in Q1

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According to the latest report from the Strategy Analyticsthe smartwatch market to grow by 20% in the 1st quarter compared to the same period in the previous year, with an estimated 14 million units sold. Apple was once again the most important brands in the segment, with its more than 7.6 million shipments and a 55% share of the market. It comes in a distant second was Samsung with 1.9 million shipments, closely followed by Garmin with the 1.1 million saw a 38% increase in shipments compared to the previous year.

Apple, Samsung, Garmin, Fossil has already managed to boost their bottom line during the period in question. Samsung’s market share, however, declined from 14.9 to 13.9%, due in large by the COVID-19 to lock in its domestic market of South Korea. In spite of the strong performance in the quarter, analysts expect shipments to fall in the short term in a (Q2), but is back up and running in the second half of the year.

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