The volume of wearable technology supplied surmounted to 23 million in the first quarter of 2016. Amongst all, Apple smart watch was highly demanded in the global scale, out running Fitbit and Samsung.
In 2017, the demand for wearable technology increased by 23% compared to previous year. As mentioned in Strategy Analytics, “Wearable Smart Products are next generation of technology; they will occupy their rightful place within a short span of time”. Today, wearable technology has transcended the boundaries of western countries and acclaimed new audiences in other parts of the globe including North America, Asia, and Africa.
In the first quarter of 2017, Apple shipped more than 3.7 million smart watches. The annual growth of sale is assumed to be more than 60%. Apple occupies more than 16% share in the global supply of wearable technology. Though the innovation of Samsung and other smart device manufacturing companies is appealing, Apple still sits at the pinnacle when it comes to wearable technology.
A new innovation in Apple’s list of products is the New Apple Smartwatch 2. This new product bears a close resemblance to its predecessors, but with a twist. This new Apple product has integrated GPS, two days battery life, and water resistance feature. The product is highly demanded in the US and UK marketplaces.
A close competitor to Apple is Xaiomi a Chinese brand, the brand shipped more than 3.2 million smart wearable products in the first quarter of 2017. With Asia as its core market, the brand is seamlessly achieving new heights, and if makes it to European and American market, chances are, Xaiomi will be a strong competitor for well-established IT giants like Apple and Samsung.
Like the sale of iPhone and iPad, Apple never revealed the actual sales figure of their smart watches. But in a recent seminar, Apple CEO Tim Cook stated that Apple’s wearable products which include Beats Headphones, earpads, and smart watches are nearly the size of Fortune 500 Company. This indirectly means the demand for Apple’s wearable technology is taking hype. The number of Apple smartwatches have doubled or even tripled in its top markets.
Like Apple Smartwatches more smart products will hit the market soon, we just have to be ready to see what is on our way.