In the first quarter of 2020, there has been a 20% increase in smartwatch orders worldwide compared to the same period of last year. Apple ranks first in the market. Despite the COVID-19 outbreak, the increase in smartwatch demand is remarkable.
Due to the COVID-19 outbreak, national economies around the world are rolling into a major crisis, while technology giants continue to grow in some areas. According to the data published by Strategy Analytics, smart watch orders increased by 20% in the first quarter of 2020 compared to the same period of the previous year.
While the number of smartwatch orders in the first quarter of 2019 was 11.4 million, this number increased to 13.7 million in the first quarter of 2020. The company that dominated the smartwatch market was Apple, by 55%. Apple, which received 7.6 million smartwatch orders globally in the first quarter of 2020, reached 6.2 million in the same period last year.
Despite the COVID-19 outbreak, demand has increased:
Having achieved 23% growth compared to last year, Apple’s market share increased from 54% to 55%. Apple with 13.9% market share, Samsung with 1.9 million orders (market share was 14.9% in the same period last year), and Garmin with 8% market share, 1.1 million orders (market share in the same period last year Was 7). The remaining companies have a market share of 22.6% and a total order amount of 3.1 million.
Steven Waltzer, a senior analyst at Strategy Analytics, noted that demand is growing in the smartwatch market despite the worldwide effects of the coronavirus outbreak. Emphasizing that smart watches reach the user through online retail channels, Waltzer stated that they need smart watches to follow the health and forms of the users during the quarantine measures taken as part of the outbreak measures.
However, Strategy Analytics Director Woody Oh noted that they expect a drop in orders due to the COVID-19 outbreak in the second quarter of 2020. Pointing out that sales in Europe and the USA have inevitably been hit in recent months, Oh added, however, that in the second half of 2020, a reasonable recovery will be experienced with the steady re-confidence and re-opening of retail stores worldwide.
Strategy Analytics manager; he thinks that smartwatches have great potential in the long run, as both young and old users become more conscious about their health in the post-virus world.