Bottom line: While features like heart rate sensors, GPS, pedometers and NFC are hot commodities in smartwatches, limited battery life remains a pain point according to Counterpoint Research Analyst, Satyajit Sinha. If manufacturers can figure out how to squeeze even more life out of their watches, sales will likely continue to climb.

Global smartwatch shipments climbed 48 percent year-over-year in the first quarter of 2019 with Apple leading the way by a wide margin.

The Cupertino-based tech titan may be experiencing depressed demand for its iPhones but the Apple Watch isn't encountering similar struggles. According to Counterpoint's Global Smartwatch Tracker, global shipments of Apple's wearable grew 49 percent year-over-year in the most recent quarter.

One in three smartwatches shipped during the quarter was an Apple Watch, the firm said.

Senior Analyst Sujeong Lim, speaking on Samsung's performance, said its success was due to the latest Galaxy watch series that came with a traditional round clockface and better battery life. The Galaxy also provides LTE connectivity, giving it a leg-up on some other devices targeting Android users.

Huawei also got some traction with its Huawei Watch GT thanks to a striking design and affordability. Counterpoint said Huawei is also leveraging its growing brand mindshare which is presumably more favorable in other parts of the world than it is in the US.