Shashwat Pradhan Shashwat Pradhan

Q1 2016 Wearable Market growing 67%: Wearables living upto the growth expectations

IDC’s report for wearables in Q1 2016 is just in, wearable shipment are up 67%! It is a really interesting quarter for wearables with the Apple Watch expanding worldwide. The total shipments this quarter are at 19.7 million from 11.8 million in Q1 last year. In summary, it looks like Fitbit is still winning the fitness tracker market whereas Apple is dominating the smartwatch market. Xiaomi is still on no. 2 with its cheap fitness trackers.

Wearable Shipment Graph Q1 2016 vs Q1 2015

 

It is great to see wearables making a place in people’s lifestyle on their wrists, with wearables maturing with function and fashion. BBK (Manufactures One Plus & Oppo phones) that sells smartwatches for kids in China is tied with Samsung on number four! It is interesting to see how Apple & BBK have eaten into Fitbit’s & Xiaomi’s market share, but they are still showing some great growth! Also with so many Android Wear smartwatches out there, they have a small market share in the others part of the pie.

 

Q1 2016 Wearable Market Graph
Q1 2016 Wearable Market Graph

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When it comes to smartwatches, Apple holds 46% of the market with Samsung second at about 21% of it. It is followed by Motorola at 10.9% and then Huawei at 4.7%. It looks like smartwatches are still a small fraction of the wearable market, with fitness trackers being more battery efficient and cost friendly. IDC did mention that smaller companies in this market downsized or shut down. It is looking like a tough market to compete in with all the big players having their product in the market.

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