Wearing a fitbit or Apple watch, which one you pregfer. In my opinion, Apple watch, or 2nd option may be Android watch, or a smart band.
But, the fact is , Fitbit been the market leader 22.2 % , loosing market share sharply, market share dropped from 32.8 % in 3Q 2014. Apple and Xiaomi took the major share from the fastest growing market with 2nd and 3rd place scoring 18.6 % and 17.4 %.
The fact to consider is that Apple watch and Xiaomi accessories were launched this majorly this year. Specially Apple which launched Smartphone 3 months ago only.
Smart wearables also witnessed a growth of 196 % y-o-y. Q3 2014 sales volume of wearables was 7.1 mn as against 21.0 mn in Q3 2015.
Talking of Smartwatch market, Average Prices vary from 100 $ for basic to 400 $ for a premium watch. Apple managed to grab the mojority of share in the Top Segment, while Chinese manufacturers like Xiaomi and XTC landed up grabbing the low end market.
This quarter the major looser was Samsung which lost the spot in Top 5 vendors.
Let’s have a close look at all the Vendors performance :
1. Fitbit : Fitbit has managed to retain the Top slots for couple of years. But it’s loosing market share very sharply to Apple and Xiaomi, though Fitbit witnessed over 100 % growth in Volume, from 2.3 mn units 3Q 2014 to 4.7 mn Units in 3Q 2015.
2. Apple : This is the Brand which witnessed high growth rate since it’s launch. The key attraction for users is the Sports Line by Apple, which is on the cheaper side, as compared to Gold.
3. Xiaomi : Xiaomi as always maintained the reputation of cheapest Brand with maximum features. But, in case of Xiaomi, We have to mention one point, limitation of Market penetration. Xiaomi is strongly relying on Asian Markets, specially China and India.
4. Garmin : Garmin major focus is sports, that is, Athletes, wimming, Golf, hiking and water sports. Garmin is trying to lead the sports segment specially with Vivo Brand.
5. BBK : BBK owned brand, XTC has come up very fast, though the volumes are not very big, but still good enough to place XTC in top five.
Upcoming brands to watch for in 2016 :
1. Yu : Yu Band is one of the fastest selling Band in India, but is limited by the supply. Hope Yu can manage to overcome this issue.
2. Samsung : 2016 will be a tough year for 2016, if it can place its Gear in a ver competitive price range.
3. Fossil : Fossil has come with Designer Smart watches in a very cheap range, Hope if it can promote the watches in a effective way, it has the potential to come in Top 5 vendors.
Source : IDC