Report says Apple is ‘clear market leader’ among smartwatches
Revenue from U.S. sales rose to $5B in 2018
A new report on the smartwatch industry says the market for the devices in the United States continues to grow, adding to Apple’s recent statements that it has seen record revenue gains from its line of Apple Watches.
According to retail research firm NPD Group, sales of smartwatches in the U.S. reached $5 billion for the 12 months that ended in November 2018, a 51 percent increase from the prior year, while unit sales climbed 61 percent over the same period.
NPD did not break out unit sales figures for individual companies, but called Apple “the clear market leader” and said that the “top three brands” — Apple, Samsung and FitBit — accounted for 88 percent of smartwatch sales during the 12-month period. NPD added that more traditional watch makers, such as Fossil, and other brands focusing on fitness applications, like Garmin, are making some inroads in the overall smartwatch market.
“Over the last 18 months, smartwatch sales gained strong momentum, proving the naysayers, who didn’t think the category could achieve mainstream acceptance, had potentially judged too soon,” said NPD research analyst Weston Henderek, in a statement.
For its part, Apple doesn’t publicly disclose Apple Watch unit sales. But on Jan. 29, the company said that during its fiscal first-quarter, it reported $7.3 billion in sales of “wearables, home and accessories,” a 19 percent year-over-year gain.
NPD also said that 16 percent of American adults now own a smartwatch, up from 12 percent in December 2017, and that the 18-to-34 demographic is leading the industry’s growth, as 23 percent of individuals in that age group currently own a smartwatch.