Apple Inc., the renowned tech giant based out of Cupertino C.A., in contention for the title of the most valuable business on planet Earth, might just have to put a little more effort to cement its top position in the world.
Apple came third in the race
As per a newly released report by Canalys, the wearable technology market grew by a meager 8% year on year at the end of the second quarter of 2017.
This growth in numbers was led by Chinese organization Xiaomi (electronics company primarily into Smartphones, mobile application, and laptops also into the wearables) with 3.5 million units shipped, followed by Fitbit (an American Company into activity trackers, wireless wearable technology gadgets in fitness arena) which shipped 3.3 million units. Apple, on the other hand, came in third with just 2.7 million watch units shipped globally.
Fan following on a decline
The hype and fanfare that wearables had arrived with are dying out slowly. The companies in business in this sphere now have to put forward a very strong case to grow and stimulate demand.
Xiaomi and 360 have released watches running on the 4G LTE network, enabling the parents to keep tabs on their children and monitor them remotely.
Qualcomm has also released newer more wearables focused chips, which it hopes will motivate the wearables manufacturers to innovate and release better products.
The roadmap ahead
Canalys, however, reports that the premium LTE enabled wearables, specifically smart watches, will pick up speed and grow at a rapid pace in China, as vendors have already started developing new features well above the basic calling and tracking abilities.
The vendors will have to adjust their positioning in the market though and change their existing strategies to be in line with the newer emerging technologies.
Apple being the industry leader at the moment in the overall devices market, has a stronger base to leverage its position with its strong relationship with existing operators. This will be the critical tipping point as sales of wearables, smart watches and related services are at the moment predominantly dependent on such existing operators.
It, additionally, has huge infrastructure on its side with its iStores being equipped to provide real time experiences to the potential customers. Apple's offline vendors though will have to pull up their socks real quick and adapt to showcase the emerging technologies and their benefits as soon as the products are made available in the market.
Apple's competitors are, however, poised to gain better traction with the release of the cellular feature enabled wearables if they manage their research and development appropriately in a progressive way.
Fitbit, if it manages to avoid the general pitfalls associated with the wearables such as low battery life and bulky design, will emerge a stronger player in the field, thus strengthening it's foothold in the domain.