Market research firm Strategy Analytics have just released their numbers for the global wearable market in the first quarter of 2017. Unsurprisingly, Apple remains the clear leader in the global wearable market, commanding a whopping 53% of all sales in the first quarter.
Samsung, on the other hand, managed to garner a global market share of 12.8% in the January-March period. While it may be way behind Apple currently, it did manage to overtake Fitbit, which was once the world’s largest wearables vendor. Strategy Analytics in its report claims Fitbit lost market share in the last quarter due to slowing demand for fitness bands and the company’s late entry into the smartwatch segment didn’t help matters much either. Samsung saw its market share rise due to its Gear S3 smartwatch receiving a good response from consumers around the world, thanks to Samsung Pay support, built-in GPS, and improved battery life when compared to the previous model.
When it comes to the number of units shipped, Apple was the top wearables vendor in Q1 2017 with 3.5 million units shipped, translating to a market share of 15.9%. At the No.2 spot was Xiaomi, with 3.4 million units shipped and 15.5% market share. Fitbit held the third spot in terms of shipments as well, with a share of 13.2%.
With the watchOS 4 arriving this fall and all-new Apple Watch Series 3 models expected to be launched sometime later this year, Apple’s dominance in the global wearables market is likely to continue, at least in terms of sales. As far as shipments go, Xiaomi definitely has the potential to overtake Apple, especially if it introduces a few new wearables this year.
Another market research firm, IDC expects the wearables market to double by 2021, mainly driven by sales of smartwatches and smart clothing.
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