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Global wearables market grows by 35 per cent YoY in QE March 2018, says Canalys report

May 25, 2018

According to a report by Canalys, the global wearables market grew up by 35 per cent year-on-year in the first quarter of 2018. This growth can be primarily attributed to strong demand for health-centric devices where Apple and Xiaomi maintained the lead.

A total of 20.5 million units were shipped in the quarter. Apple became the top vendor by shipping 3.8 million Apple Watches followed by Xiaomi which shipped 3.7 million units. Fitbit, Garmin and Huawei also made it to the top five.

Smartwatches accounted for 80 per cent of wearable band revenue which rose from 74 per cent in the first quarter. In addition, smartwatches accounted for 43 per cent of total shipments during the quarter.

As per the report, key to Apple’s success with its latest Apple Watch Series 3 is the number of long term evolution (LTE)-enabled watches it has been able to push. Operators welcome the additional revenue from device sales and the added subscription revenue for data on the Apple Watch, and the list of operators that sell the LTE Apple Watch worldwide is increasing each month.

 

Garmin is the second largest smartwatch vendor with 1 million smartwatches shipped in the last quarter. Garmin focuses its GPS expertise on catering to endurance athletes and outdoor enthusiasts. Smartwatches accounted for 24 per cent of Fitbit’s wearable band shipments.

 
 

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