Apple remains on top of the global wearable band market
Global shipping of basic watches showed growth during the second quarter of 2023
Noise, a wearable firm based in India, was next with 3.5 million units shipped. The company offers a wide range of Bluetooth smartwatches and had the largest annual gain of the manufacturers on the list with a year-over-year hike of 93%. The company’s market share doubled from the 4% it had during the second quarter last year to 8% this year. That left another Indian wearable brand, Fire Boltt, to finish fifth. Fire Boltt had 3 million units shipped, up a hefty 86% on an annual basis. It left the company with a market share of 7%, up 75% from 4% during the same quarter in 2022.
Apple continues to show the way when it comes to pricing on the global wearable band market
Canalys Research Manager Cynthia Chen said, “In light of current economic challenges, wearables maintain significant long-term prospects. Though short-term economic factors push consumers to value-driven wearables, their enduring appeal lies in consistent quality and long-term data benefits. Canalys forecasts the wearables market is poised for sustained growth at a CAGR (compounded annual growth rate) of 4.1% through to 2027, underpinned by shifting consumer needs.”
Source: Phone Arena