New research from Counterpoint Research has shown that Apple remained at the forefront of the market for smartwatches in all aspects during the fourth quarter of 2022 and last year as a whole.
According to the data, the Apple Watch was responsible for 34,1% of all smartwatch sales in 2022 — and 60% of the global revenue of the entire sector, thanks to the model Ultrawhich raised the value of devices in the category.
Despite strong growth in the first three quarters of 2022, the fourth quarter saw smartwatch sales drop 3% year-on-year. According to analysts at the firm, the decline occurred “amid inflationary pressures and slow growth in India”.
There was also an unexpected division in the market, with sales of intermediate smartwatches falling, while entry-level and top-of-the-line ones increased. More precisely, sales of devices costing less than US$100 increased 34% year over year, and those sold for more than US$400 increased 129% year over year.
Apple has strongly driven the average selling price (ASP) increase in the global smartwatch market in 2022, especially in the $400+ price range. There are two main reasons for this rise in the ASP — a diverse lineup of Apple smartwatches and an increase in the exchange rate.
—Woojin Sonresearch analyst at Counterpoint Research
Regionally, North America regained its position as the largest smartwatch market in Q4 2022, which also allowed it to remain #1 for the full year again. However, North America’s share declined slightly as India emerged as another major region in 2022.
Among Apple’s rivals in the sector, the highlight was due to the Indian manufacturers Noise e Fire-Boltt, which showed excellent growth in the global market. The two brands surpassed 5% of the global market share, ranking fourth and fifth respectively.
While growth in the Indian market slowed in the fourth quarter, analysts are weighing its ability to threaten the position of giants such as Samsung and Huawei in the coming year.
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via AppleInsider