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
1. Xiaomi 3.5 13.4% 3.1 13.0% 13.7%
2. Apple 3.4 13.0% 2.3 9.6% 49.7%
3. Fitbit 3.4 12.9% 5.7 24.1% -40.9%
4. Garmin 1.4 5.4% 1.5 6.4% -6.6%
5. Fossil 1.0 4.0% 0.3 1.4% 217.9%
Others 13.5 51.3% 10.8 45.5% 24.3%
Total 26.3 100.0% 23.8 100.0% 10.3%
Source: IDC Worldwide Quarterly Wearable Device Tracker, August 31, 2017


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