Apple remains the global market leader in smartwatches , with a 34.1% share of total shipments by volume . In monetary terms, Apple accounts for 60% of the industry's revenues . Analysts attribute Apple's increased share to strong demand for the Apple Watch Series 8 , Apple Watch Ultra and Apple Watch SE, which were released in the fall of 2022 .
Indian smartwatch brands on the rise
South Korean Samsung ranks second with a 12% increase in shipments and a 9.8% market share . Chinese Huawei, on the other hand, completes the top three with a market share of 6.7 percent . Indian smartwatch manufacturers Noise and Fire Boltt have moved up to fourth and fifth places respectively in the global market thanks to the rapid growth in the domestic market . Garmin , Amazfit and boAt hold around 4 percent. Brands such as Fitbit and Xiaomi , respectively,ranked tenth and eleventh .
More than a third (35%) of smartwatches sold last year were budget models priced at $100 or less . With an increase of 129% compared to the previous year, smart watches in the $ 400 and above price range showed the biggest increase in shipments . Most of the growth was reportedly due to the launch of the Apple Watch Series 8 and Watch Ultra .
