At the end of the second quarter of 2018, it looks like Apple is still holding on to the top spot for the best-selling smartwatches across the world. A worldwide quarterly device tracker released by IDC lists the top 5 wearable companies. The list was created based on market share, shipment volume, and year-on-year growth. The trillion-dollar company, Apple holds 17% of the market share, thanks to the demand of the LTE-enabled watches in the first two quarters. With 15% market share, Xiaomi claims the second spot while a relative newcomer in the market Fitbit gets the third spot with a market share of 9.5%. The remaining two spots are taken up by Huawei (6.5%) and Garmin (5.3%).
The Korean tech giant, Samsung didn’t make it to the list of the top 5, probably because it just released the Galaxy Watch. On a global level, shipments of wearables have increased to 27.9 million, which is nearly 5.5% higher than the previous year. The sale of smartwatches continues to increase in Japan, Western Europe and North America, although it was nearly 6.3% less compared to the sale same time last year. Though the demand for basic models decreased globally, it seems to have increased in emerging markets of Middle East, Africa, Latin America, Central and Eastern Europe. While commenting on the demand for more sophisticated wearables in North America and Europe, the research director for IDC’s wearables team, Ramon T. Llamas said, “Two key forces were at work during the quarter: stronger demand for smart wearables, and slower declines in the basic wearables market.
Users have come to want more from their wearable devices, and smart watches have met that demand. Additionally, relative newcomers to the smartwatch market like Fitbit and several Chinese vendors have seen steady growth.” The market looks good for wearables as IDC’s data shows that more people around the world are buying smartwatches, basic or sophisticated. With Apple looking to release its new smartwatch on 12 September, Fitbit just having released the Ionic smartwatch and the Versa smartwatch, and Casio and Fossil planning to launch smartwatches with Google operating systems, it looks like customers have a wide selection. We can expect to see increased demand for basic wearables with lower price tags as the market continues to expand.