Despite the worldwide impact of the COVID-19 pandemic, global smartwatch shipments continued to grow during the first three months of the year, driven by online sales, says a new report by research firm Strategy Analytics.
Shipments grew 20% annually to reach 13.7 million units in the first quarter of 2020, up from 11.4 million units in the previous quarter. Apple Watch stayed in the top position, with 55% global market share, followed in second place by Samsung. Garmin rose to third place.
“Smartwatches are selling well through online retail channels, while many consumers have been using smartwatches to monitor their health and fitness during virus lockdown,” wrote Strategy Analytics senior analyst Steven Waltzer.
In the first quarter of 2020, 7.6 million Apple Watches shipped, a 23% increase from the 6.2 million shipped during the same period one year ago. Apple Watch’s market share grew from 54% to 55%.
Samsung shipped 1.9 million smartwatches, compared to 1.7 million last year, while its market share went down from 15% to 14%. Waltzer writes that Samsung’s smartwatch growth was slowed by the coronavirus lockdown in South Korea and new competition from rivals like Garmin.
Garmin took the number three position for the first time in two years, shipping 1.1 million smartwatches in the first quarter, a 38% increase from 800,000 a year ago. This grew Garmin’s share of the global smartwatch market from 7% to 8%, thanks to new models like the Venu with OLED color touchscreen.
Strategy Analytics expects global smartwatch shipments to slow in the second quarter of 2020 because of the pandemic, but recover during the second half of the year, as stores reopen and some consumers turn to smartwatches to help them monitor their health.
“Smartwatches continue to have excellent long-term prospects, as younger and older people will become more health-conscious in a post-virus world,” wrote analyst Woody Oh. “Smartwatches can monitor vital health signs, such as oxygen levels, and consumers may find comfort in having a virtual health assistant strapped to their wrist.”