The International Data Corporation or IDC published a report on the future outlook of the wearable’s market and has quite a few positive points in it. The wearable’s market worldwide grew by a healthy 10 percent year on year in shipments. The second quarter of Q2, 2017 read 26.3 million units shipped.
Jitesh Urbani senior research analyst at IDC Mobile Device Trackers lays special emphasis on the transitioning being witnessed with the move towards intelligent and feature filled wearable devices.
As per Jitesh, the rudimentary fitness bands have since long hoodwinking as smart watches. We have now reached a point where brands as well as the consumers are gradually shifting to even more worldly-wise devices. Features such as GPS and health tracking capability which were long considered to be niche are now becoming a standard mainstay in the wearable devices. Users expect digital assistance with wider connectivity, at house or at office.
The wearable market is stepping into a contemporary stage and now it has come to giving the right user experience (looks and the functionality of the smart device). The industry experts predict many folds growth of the wearable market in near future.
World is swinging towards better yet intelligent wearable day by day. Consumers are attracted towards powerful and robust devices and sophisticated gadgets. Statistics show that a year ago embedded GPS featured just on 24.5 percent of the wearable’s market, which has now inched up quite a few slots year on year to touch 41.7 percent.
Jitesh also points out other features such as algorithms tracking workouts and health insights as equally important to be worked and added upon. The medical industry is also getting on the wearable’s bandwagon with a lot of interest being generated in real time tracking. Consumer expectations are also in the rise.
Firms such as Fitbit and Apple are in the pilot seat to capture this new shift in momentum and maintain their respective leads due to the added financial firepower they hold in the form of investments. The winner would be the one who is most accurately able to diagnose the diseases.
Xiaomi has managed to hold onto its market share in the year's second quarter with the firm’s uncanny expertise in driving low-cost devices. The Mi band has remained the most popular device but Apple's growth has been outpacing the market with the series 1 and 2 now being mature product offerings with concise fitness purpose serving. Leaks and early official announcements of the Fitbit Iconic will play a role in cementing the firm's position in the market.
On the whole, the market is strongly positive and Garmin's 6.6 percent year on year decline should be considered as a one off incident as the firm's revenue is still growing. Fossil has also entered the top 5 for the first in the backs of the Misfit acquisition.