If you also think that the wearable market has gained more attention than it does about two years ago, then you may just be right with your assumption
The global wearable market, during the course of last year, has taken another dimension, and apart from the fact that there is an increment in the rate of adoption- most brands are beginning to make a wave. Now wearable is more of a lifestyle than custom. People now wear smartwatches not because of there job description but because they feel like wearing it as part of their dress. Prior to now, a lot of people believe that smartwatches are meant to be worn by tech savvies, or probably people who believe in smart fitness- thanks to the likes of fitbits and oraimo, however, there seems to be a change in narrative, as all classes of people now think a smartwatch can be worn by any and everyone.
That been said, one cannot jump to a conclusion that the wearable market has seen more traction without backing it up with a fact or analysis to be more precise. Despite the fact that the industry has faced a lot of ups and downs, the wearables which are now smarter, faster and more powerful than ever before have recently seen more traction according to a survey carried out by the International Data Corporation (IDC) who informs that the industry grew by a whopping 31.4 percent during Q4 2018, having shipped over 59.3 million units during the holiday season.
When expanded to cover the entire year, the growth percentage drops to 27.5 percent, while unit shipments increase to 172.2 million. To make the analysis more explanatory, the agency came up with a pictogram as seen below.
While the IDC didn’t specify full-year numbers for other wearable devices, such as ear-worn gadgets and fitness wristbands, the organization says such products respectively accounted for 21.9 and 30 percent of the market during Q4 2018. So, which companies were the dominant forces in the wearable industry last year? Apparently, Apple takes the cake with a year-long market share of 26.8 percent; courtesy of 46.2 million device shipments.
Funny enough, Samsung which won the award of the best smartwatch at the just concluded Mobile World Congress came 5th in the ranking as seen in the image above. The Korean giant packed a not very whopping share of 6.2 percent and 10.7 million unit shipments. “Other” companies took over 38.8 percent of the market collectively, with around 66.8 million wearables shipped. With the major traction in the space of 16 months, it is believed that there is a possibility for more increment in the nearest future with more brands like Nubia who teased of a flexible-screened smartwatch coming on board.