Picture by rawpixel.com on FreepikWorldwide shipments of wearable gadgets grew 2.6% 12 months over 12 months through the third quarter of 2023 (3Q23) and reached an all-time excessive for the third quarter of 148.4 million models, in keeping with new knowledge from the Worldwide Information Company (IDC) Worldwide Quarterly Wearable Gadget Tracker. Complete quantity even surpassed shipments in 3Q21 (142.1 million) and 3Q22 (144.6 million) when gross sales had been pushed by pandemic-related spending. The expansion is essentially attributed to the rise of smaller manufacturers and rising classes.
“It’s been a decade because the wearables market obtained off the bottom and whereas there was some consolidation, the market nonetheless has loads of range when it comes to manufacturers and kind elements,” stated Jitesh Ubrani, a analysis supervisor, mobility and client machine trackers at IDC. “Well being and health monitoring has come a good distance because the unique Fitbits and Pebble watches however the best driver of wearables has been the emergence of smaller and sleeker designs. Good rings from newer manufacturers akin to Oura, Noise, BoAT, Round and others are anticipated to jumpstart the brand new kind issue within the coming quarters whereas additionally placing stress on the incumbent manufacturers to innovate on well being monitoring.”
“Smartwatches and earwear nonetheless maintain pleasure of place within the wearables market,” stated Ramon Llamas, a analysis director, cell gadgets and AR/VR. “These nonetheless resonate with shoppers and proceed to search out their solution to first-time customers, particularly among the many most cautious and value delicate. That is the place we are able to nonetheless see rising distributors ship volumes excessive sufficient to rank among the many main manufacturers. Mixed with sturdy refresh cycles – together with those that bought a wearable as not too long ago as 2020 – the wearables market has arrange a robust fly wheel to maintain volumes rising.”
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High 5 Wearable Gadget Corporations by Cargo Quantity, Market Share, and 12 months-Over-12 months Progress, Q3 2023 (shipments in hundreds of thousands) |
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Firm |
3Q23 Shipments |
3Q23 Market Share |
3Q22 Shipments |
3Q22 Market Share |
12 months-Over- 12 months Progress |
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|
1. Apple |
29.9 |
20.2 |
% |
40.8 |
28.2 |
% |
-26.7 |
% |
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|
2. Think about Advertising |
14.3 |
|
9.6 |
% |
11.9 |
|
8.3 |
% |
19.4 |
% |
|
3. Xiaomi |
11.6 |
|
7.8 |
% |
8.5 |
|
5.9 |
% |
36.0 |
% |
|
4. Samsung |
10.7 |
|
7.2 |
% |
11.8 |
|
8.2 |
% |
-9.1 |
% |
|
5. Huawei |
8.5 |
|
5.7 |
% |
8.9 |
|
6.2 |
% |
-4.4 |
% |
|
Others |
73.4 |
|
49.4 |
% |
62.6 |
|
43.3 |
% |
17.1 |
% |
|
Complete |
148.4 |
|
100.0 |
% |
144.6 |
|
100.0 |
% |
2.6 |
% |
|
Supply: IDC Worldwide Quarterly Wearable Gadget Tracker, December 4, 2023 |
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A graphic illustrating year-over-year development for every of the most important wearable machine classes: earwear, smartwatch, wrist band, and different, over the earlier 5 quarters is on the market by viewing this press launch on IDC.com.
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