Wearables Continued to Grow in Q2

According to the latest report from Canalys, global wearable band shipments increased by 2.0 percent to 41.7 million units in the second quarter of 2022. Basic watches and smartwatches, categorized under wristwatches, grew 46.6 percent and 9.3 percent, respectively, offsetting the 35.5 percent year-on-year decline in baseband shipments.

Apple continued to dominate the global wristwatch market with 8.4 million shipments and a 26 percent market share in the second quarter. Samsung (2.8 million) and Huawei (2.6 million) followed Apple with 8.9 percent and 8.3 percent, respectively. In the second quarter, Samsung overtook Huawei with 58 percent growth before the Galaxy Watch 5 series launches in the third quarter of 2022.

In terms of markets, India's share of the global wearable band market reached 15 percent for the first time in the second quarter, with 6.3 million shipments, the vast majority of which are essential watches, despite lagging behind China and the US. Other shares of the market are 28 percent and 20 percent, respectively.

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Key Statistics on Wearables

According to the newly compiled Canalys report, the global smart wearables market saw a 2% increase in shipments in Q2 2022 compared to Q1. Total global shipments of smart wearables (basebands and smartwatches) reached 41.7 million units. Of these, basic watches saw a massive 46.6% increase in shipments, while smartwatches (those with apps) saw a 9.3% increase.

Still, basic smartbands saw a 35.5% drop in sales. The shipped Apple took the lion's share with 8.4 million hours shipped, or 26.4% of the market. Samsung is ahead of Huawei in second place with 2.8 million units shipped, while Huawei has sold 2.6 million units.

India's domestic sales figures achieved a massive 382% increase in shipments totaling 1.8 million. Noise, Fire-Boltt and boAT enjoyed repeated success with approximately 1 million shipments per quarterThis increase in sales helped India record its highest market share ever and become the world's largest market in the second quarter with 15%.