The smartwatch industry is now 27 percent bigger than it was a year ago

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In brief: The smartwatch market is now 27 percent larger than it was a year ago, mostly thanks to strong demand for sub-$100 models. Apple, meanwhile, has crossed the 100 million milestone, but its leadership is eroding as brands like Samsung, Garmin, and Chinese companies making budget smartwatches are slowly gaining ground.

The latest report from Counterpoint Research is in, painting what has now become a familiar picture of the smartwatch market where the Apple Watch leads the pack, along with a few signs of positive change in the Wear OS land.

Global smartwatch shipments for the second quarter of this year showed a healthy 27 percent year-over-year increase, showing that appetite for wearables has improved as Covid-19-related restrictions eased. The Apple Watch accounted for a slightly smaller (28 percent) share of the total shipments volume when compared to the same quarter of last year, but at the same time its user base has grown to more than 100 million.

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