According to a report by Canalys, Apple Smartwatches & Wearables Lead The Tech Industry. With full dominion in the wearable band market, Apple gadgets and devices have boosted up sales by a considerable margin in the current fiscal year.
The tech market grew around 6% over the last year. SMartwatches have remained the public’s favourite gadget, and sales of smartwatches of almost all major brands have gone up. Almost all companies are now focusing on launching and introducing newer models of smartwatches with updated features due to an increase in global demand. In this entire race of companies competing with each other to be at the forefront, Apple smartwatches are leading the way.
Previously, people were buying more fitness and sports bands, this paradigm later shifted to purchasing smartwatches in the year 2020. Smartwatch sales amount to 62% of all wearable band shipments. Apple has a share of 31.1% of the smartwatch market, and 19.3% of the wearable band market.
Another tech-giant known for its superior quality smartwatches is Samsung. Samsung has also managed to increase its shipments by 114% over the last year. Its recent item, the Galaxy Watch 4, has been a globally popular device now powered by Wear OS 3. Fitbit, well known for its fitness trackers, has also seen a notable boost in its sales since last year.
Xiaomi, with its cheaper bands and smartwatches models, is leading the way when it comes to the basic bands sector. A slightly ahead of Apple in this regard, Xiaomi Mi Smart Band 5 and 6 are doing really well in the market.
Overall, consumers around the world have placed their first preference on health and wellness. Their priority is purchasing a well-known gadget that would offer them sound health-related features like measurement of heart rate, SpO2, sleep and stress monitoring etc.