Undoubtedly, Apple and Xiaomi were at the epitome of wearables vendors in the Q1 of 2017, defeating their long-time rival Fitbit. The hierarchy was determined by analyzing the sales figure showcased by IDC.
The analyst firm conveyed that amongst three companies Apple was the enterprise to ensure maximum progress in wearable shipment. Apple’s number increased from 2.2 million to 3.6 million, which is a significant growth rate in one year period.
But when it came to market share Xiaomi outpaced Apple, with 14.7% market share compared to 14.6%. Close isn’t it! But both companies were on 3.6 million and IDC was unable to define the actual winner. On the other hand side, Fitbit dropped its sales chart to 3 million compared to 4.9 million in 2016. This obliged the game changer to stay behind the competitions.
Samsung is also scuffing the surface to make their presence among the top wearable manufacturers. But with just 1.4 million product shipment, the top three positions still seems a far cry for the brand.
In the Q1 of 2016, the total volume of IoT wearable shipment reached 20.9m with an intense 18.1% year over year growth rate.
Previously, consumers preferred fitness bands and Fitbit was the only brand to produce such wearables. But over the years, Apple and Xiaomi were able to draw the attention of users towards a more advanced product – Smartwatch. These products could perform every task as Fitbit fitness bands, but also offered a plethora of other convenient functions. However, Fitbit is still able to maintain its value in the market. And, IDC mentioned that by no means Fitbit should be removed from the list.
According to Jitesh Urbani, senior research analyst at IDC, “The market is arguably still in the first phase of development, where companies are focused on seeding wearables into the market, it’s all about getting people accustomed to the idea of wearing a device. And the opportunity remains very enticing for traditional and fashion watch brands as the scale of the consumer electronics market far surpasses their world.”
As wearables tech are swiftly making their presence, it’s certain that the sales chart of such manufacturers will increase by leaps and bounds. While experts still believe that 2016 was a tough year for smart wearables, the figure of shipped products defined something else.
ABI research mentioned that the revenue for wearable devices will amount to $55 billion by 2022. IDC predicts that the future of wearable tech is glorious, and the companies willing to invest in this technology will prosper shortly.