31 May 2019
Global wearable shipments reached 32.0 million units in Q3, 2018, up 21.7% from the previous year according to the latest report from market tracker International Data Corporation (IDC).
According to the company’s Worldwide Quarterly Wearable Device Tracker, new products from Fitbit, Garmin, and Huawei have helped the basic wearables category return to growth during the third quarter. There has been an increasing demand in markets like Asia/Pacific (excluding Japan), which accounted for more than half of all shipments and grew 21.4% over the previous year.
The United States, which is the second biggest market, saw its year-over-year growth decline 0.4% as the market matured and saw fewer people replace devices and get upgrades.
Xiaomi emerged on the top position with 21.5% market share in the global wearable segment in Q3, 2018, while Apple came second with 13.1% market share. China accounted for 61% of Xiaomi’s market, as the company continued to grow its presence in other markets like India, Europe, Middle East and Africa. Fitbit was in the third position, with Huawei grabbing the fourth spot and Samsung came in the fifth position.
“This has helped satiate consumer demand for more capable devices while also maintaining average selling prices in a market that faces plenty of downward pressure from low-cost vendors and declining smartwatch pricing,” said Jitesh Ubrani, Senior Research Analyst for IDC Mobile Device Trackers.
“As more features get added and as the price differential between basic trackers and smartwatches narrows, brands could potentially move consumers upstream to smartwatches,” he added.
“The smartwatch market also evolved during the quarter as the two largest smartwatch brands, Apple and Fitbit, continued to delve deeper into the healthcare market,” said Ubrani.