Canalys: Global smartwatch shipments rise in Q1 but smart bands plummet
A total of 41.7 million smartbands and smartwatches were shipped globally in Q1 2022 based on data from Canalys. 32 million of those were smartwatches with the product category experiencing a 15% growth compared to the same period last year. On the other side of the table, smart bands saw a 37% drop in shipments for the quarter which marks the sixth consecutive fall since Q4 2020.
Apple shipped the most smartwatches in Q1 2022 with a total of 9.2 million units. Cupertino also earned 22.1% of the global market share thanks to strong demand for the Apple Watch Series 7. Huawei saw 4.6 million shipments and an 11% market share while Xiaomi managed 4.2 million shipments and a 10.1% market share. Samsung secured the fourth spot with 3.4 million shipments and an 8.1% market share while Fitbit saw 2.9 million shipments and a 7% share of the market.
|Worldwide wearbale band and smartwatch shipments and annual growth|
|Vendor||Q1 2022 shipments (million)||Q1 2022 market share||Q1 2021 shipments (million)||Q1 2021 market share||Annual growth|
|Notes: percentages may not add up to 100% due to rounding
Source: Canalys Wearables Band Analysis (sell-in shipments), May 2022
Rising inflation levels are expected to decrease consumer spending though demand for smartwatches is said to have growth potential due to their health and activity tracking benefits for consumers. Canalys analysts predict further drops in demand for smartbands with Xiaomi and Fitbit being severely affected.