New Delhi, Mar 4 (IANS): The global smartwatch market reached 127.5 million units in 2021, with shipments of 42.4 million in the fourth quarter, says a new report.

According to market research firm Counterpoint, while Apple's Watch 7 series launch had been delayed to the fourth quarter, Samsung has boosted its market position in 2021 with the successful launch of the Galaxy Watch 4 series.

"The smartwatch market still has room to grow and shipments are yet centered around advanced markets such as North America and Europe," the company said in a statement.

"The Indian smartwatch market was similar in size to MEA or LATAM in 2020, but recorded explosive growth of four times in 2021, achieving a share of close to 10 per cent," it added.

With the popularity of the Apple Watch, Watch OS holds almost a third of the market.

The biggest change in 2021 in terms of smartwatch OS is Samsung's move from Tizen to Wear OS. As a result, Google's Wear OS has increased its share from 3 per cent in 2020 to 10 per cent in 2021.

The report said that China is the largest market for kids' smartwatches, and this has helped it rank second in regional markets just behind North America in 2021.