15 November 2018
The global wearables market is booming right and according to a report have crossed 10 million units in shipments in the third quarter. Apple Watch Series 4 which was released in September, as well as wearables like the Fitbit Versa and Samsung Galaxy Watch, have been driving the wearable market.
Wearables are now being promoted as a fitness gadget and are aimed to help people in monitoring severe health conditions like heart arrhythmias. Apple’s latest Apple Watch Series 4 wearable has been designed for people with health problems, as well as the elderly who are at risk of falls. The device has a fall detection feature.
Strategy Analytics' Wearables tracker reveals that smartwatch shipments rose in Q3 2018 to 10 million units, with Apple Watch leading the market, followed by Fitbit in the second place. In Q3 2018, Apple shipped 4.5 million Apple Watch units, while it shipped 3.6 million units in Q3 2017. However, the company’s market share slide to 45%, compared to a 60% market share in Q3, 2017. Fitbit gained 15% market share in the quarter, compared to zero percent a year ago.
Neil Mawston, Executive Director at Strategy Analytics, added, “Apple shipped 4.5 million smartwatches worldwide in Q3 2018, rising 25 percent from 3.6 million units in Q3 2017. While far ahead of the chasing pack, Apple’s global smartwatch market share slipped to 45 percent this quarter, down from 60 percent a year ago. Apple is facing growing competition from a revitalized Fitbit and Samsung, and the recent launch of Apple’s new Watch Series 4 model was a badly needed addition to its armory.”
Steven Waltzer, Industry Analyst at Strategy Analytics, added, “Fitbit shipped 1.5 million smartwatches worldwide and captured 15 percent global smartwatch market share in Q3 2018, rising strongly from zero market share a year ago. Fitbit is now the world’s second largest smartwatch brand. Its Versa portfolio is proving wildly popular across North America. Fitbit has further scope for growth next year by pushing deeper into Europe, Asia and Latin America.”
Neil Mawston, Executive Director at Strategy Analytics, added, “Samsung captured 11 percent global smartwatch market share in Q3 2018, lifting slightly from 10 percent in Q3 2017. This was Samsung’s first market share gain in the smartwatch segment for over a year. Its new Galaxy Watch range is selling fairly well, due to improved hardware design and aggressive marketing. Meanwhile, Garmin held fourth position and captured 8 percent worldwide smartwatch market share during Q3 2018, dipping from 10 percent a year ago. Rising competition from Fitbit, Samsung and others in the sports and music categories is making it harder for Garmin to make headway in smartwatches.