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Apple Overtakes Fitbit in the Global Wearable Market

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Apple’s wearable shipments

According to the IDC, global shipments of wearable devices in the third quarter rose 21.7% year-over-year to 32 million units. The wearable market growth was driven by the launch of new products from Garmin (GRMN), Fitbit (FIT), and China’s (FXI) Huawei.

The demand from emerging markets in the Asia-Pacific region rose over 21%. The region accounted for 50% of the total shipments. The shipments from the US, which is the global wearable leader, fell 0.4%. The fall indicates the need for user upgrades and replacement devices.

Apple (AAPL) outpaced the wearable market and saw shipments rise 54% YoY to 4.2 million units. The Apple Watch Series 4 was launched towards the end of the third quarter and accounted for less than 20% of Apple’s total shipments.

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Xiaomi leads the wearable market

Xiaomi led the global wearable market with a share of 21.5%. The shipments rose 90.9% to 6.9 million units. Samsung (SSNLF) was the other major player that beat the market growth. Samsung’s shipments rose 91% to 1.8 million units, which indicates a share of 5.6%. The other top players were Fitbit and Huawei with shares of 10.9% and 5.9%, respectively.

Jitesh Urbani, a senior IDC analyst, said, “The healthcare market is quickly becoming the next frontier for wearables brands to conquer. With heavy regulation and greater scrutiny, this segment will likely be the one that staves off value brands, allowing the market leaders to further cement their lead.”

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