According to the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker, the Global shipments of wearable devices growth reach in the double figure in year 2018. According to IDC the wearable market is 32.0 million units in the third quarter of 2018. It means wearable market rises up to 21.7% from the previous year according to data from.
The reports suggest that the launching of new products and low prices makes the shoppers to purchase huge number of wearable in the world. Among these new products, the companies like Xiaomi, Apple and Fitbit becomes the top the wearable’s brands in the world.
Well the reports suggest that, the new wearable gadgets from Fitbit, Garmin, and Huawei helped the basic wearable’s category makes it growth. Besides that it also has a grown demand in Asia/Pacific (excluding Japan). This growing market accounted for more than half of all shipments and grew 21.4% over the previous year. On the other hand, the United States a second market experience decline in growth. As it transitions from a market driven by new users to one that relies on replacement devices and upgrades.
All this results in the market evolution of the smartwatch, as the two largest smartwatch brands, Apple and Fitbit, continued to making its mark in healthcare field. According to the experts of market, the healthcare market is quickly becoming the next frontier for wearable’s brands to overcome. With heavy regulation and greater scrutiny, this segment will likely be the one that staves off value brands, allowing the market leaders to further strengthen their lead.
Top 3 Brands
Xiaomi with its Mi Band 3 and significant expansion beyond its home country of China makes it the top leader. The shipments goes over 80% of Xiaomi’s shipment volume, this quarter that share fell to 61% as the company managed to grow its presence in other markets such as India, Europe, and Middle East & Africa.
Apple with its Series 4 Watch, its first watch approved for medical use, towards the end of the quarter. The new design and sizes along with the latest version of Watch OS were welcome changes though the latest series only accounted for less than 20% of all Apple Watch shipments. The reduced price on the still affable Series 3 accounted for the majority of Apple’s shipments during the quarter.
Fitbit’s latest devices, the Versa, Charge 3, and the Ace, helped the company slow its decline compared to previous quarters. On the other hand, the success of the Versa has allowed the company to once again become the second largest smartwatch vendor and IDC expects this to continue in the near term.