Q2 2017 saw strong growth for Smartwatches. The global wearable market saw shipment reach 26 million in that period alone. This is up from the previous year by a whopping 10%. With most of that growth coming from Smartwatches alone.
Basic wearables (devices with no ability to run 3rd party apps) in the same period actually fell by 0.9%, making it the first time there has been a decline. But this is unlikely to be a one time fluke as rudimentary fitness trackers take a back seat, we are likely to see a bigger decline in the periods ahead.
As the demand for more functionality in wearables has grown and the need for basic trackers starts to slow. There is now a transition to more fully featured devices.
Most of that increase in Smartwatch sales is due to models aimed at different market segments. For instance the fashion-conscious and outdoor enthusiasts in addition to the technophile crowd, lower price points also added to that growth. As consumers become more comfortable with dawning a wearable instead of an analog time piece, those numbers are forecasted to take a huge leap.
Also to note is the growing interest for product manufacturers to create more medically friendly devices and the ability to be a stand alone product unchained from a mobile device.
Here’s a quick breakdown of how the market is doing.
|Top 5 Worldwide Wearable Device Companies, Shipments, Market Share, and Year-Over-Year Growth, Q2 2017 (shipments in millions)|
|Company||2Q17 Shipment Volumes||2Q17 Market Share||2Q16 Shipment Volumes||2Q16 Market Share||Year Over Year Change|
|Source: IDC Worldwide Quarterly Wearable Device Tracker, August 31, 2017|