Fitbit Leads The Charge As Wearables Market Posts 200% Growth In Q1
Vendors shipped a total of 11.4 million wearables in the first quarter, a 200 per cent increase from the 3.8 million wearables shipped in last year’s corresponding quarter, according to the IDC Worldwide Quarterly Wearable Device Tracker.
Ramon Llamas, IDC research manager, wearables, noted that “bucking the post-holiday decline normally associated with the first quarter” represents a strong sign for the market.
“It demonstrates growing end-user interest and the vendors’ ability to deliver a diversity of devices and experiences,” Llamas commented. “In addition, demand from emerging markets is on the rise and vendors are eager to meet these new opportunities.”
Llamas added that it remains to be seen how Apple’s arrival will change the landscape.
“The Apple Watch will likely become the device that other wearables will be measured against, fairly or not,” he stated. “This will force the competition to up their game in order to stay on the leading edge of the market.”
Jitesh Ubrani, IDC senior research analyst, worldwide mobile device trackers, noted that price erosion has been “quite drastic” in the young market, with over 40 per cent of the devices priced under US$100.
Ubrani added that this is a reason why the top five vendors have been able to grow their market dominance from two thirds to three quarters of the market year-on-year.
“Despite this price erosion, Apple’s entrance with a product priced at the high end of the spectrum will test consumers’ willingness to pay a premium for a brand or product that is the centre of attention,” Ubrani commented.
Fitbit is a clear leader in the market, capturing a 34.2 per cent share, with its shipments growing from 1.7 to 3.9 million year-on-year. The IDC noted Fitbit’s first quarter shipments were driven by the release of three new devices in the Charge, Charge HR, and the Surge, along with continued demand for its older Flex wristband and One and Zip clip-on models.
Xiaomi, meanwhile, took out second place, securing 24.6 per cent of the market in shipping 2.8 million devices. Xiaomi’s Mi Band was delivered primarily within its home country of China, with the IDC noting recent announcements point to more global aspirations for the company.
Garmin came in at third position, shipping 0.7 million devices and capturing a 6.1 per cent market share, while, rounding out the top five were Samsung and Jawbone, respectively – Samsung secured a 5.3 per cent market share, shipping 0.6 million devices, and Jawbone a 4.4 per cent market share, shipping 0.5 million devices.