What They Say
IDC said that the global wearables market declined on an annual basis for the first time in Q1 2022, down 3% on 2021 to 105.3 million units as consumers looked for other things to spend money on. Hearables had a big boost in the pandemic from work from home and learn from home grew, but that peak is over.
Wristbands, the pioneers of the wearables category, declined 40.5% as supply shortages and weaker demand combined to hamper growth. On the bright side, watches grew 9.1% during the period and grabbed 28% share of the overall market. Market leader Apple managed to grow slightly, but #2 supplier, Samsung fell back. Xiaomi, Huawei and Imagine round out the top 5.
What We Think
I’m looking to upgrade some technology that I have, with devices getting older, but I still haven’t fallen for the lure of the smartwatch. Maybe one day… (BR)
|
Top 5 Wearable Device Companies by Shipment Volume, Market Share, and Year-Over-Year Growth, Q1 2022 (shipments in millions) |
|||||
|
Company |
1Q22 Shipments |
1Q22 Market Share |
1Q21 Shipments |
1Q21 Market Share |
Year-Over-Year Growth |
|
1. Apple |
32.1 |
30.5% |
30.1 |
27.7% |
6.6% |
|
2. Samsung |
10.9 |
10.3% |
12.1 |
11.1% |
-9.9% |
|
3. Xiaomi |
9.8 |
9.3% |
12.9 |
11.9% |
-23.8% |
|
4. Huawei |
7.7 |
7.3% |
8.6 |
7.9% |
-10.8% |
|
5. Imagine Marketing |
3.2 |
3.0% |
3.0 |
2.8% |
5.2% |
|
Others |
41.7 |
39.6% |
41.9 |
38.6% |
-0.5% |
|
Total |
105.3 |
100.0% |
108.6 |
100.0% |
-3.0% |
|
Source: IDC Worldwide Quarterly Wearable Device Tracker, June 7, 2022. |
|||||
