Total wearable device shipments reached 19.7 million units in the first quarter of 2016, an increase of 67.2% from the 11.8 million units shipped in Q1 2015, according to IDC.
During the period, we saw a number of new fitness trackers and smartwatches introduced, price reductions, and greater participation within emerging wearables categories, particularly clothing and footwear. Conversely, several start-ups announced headcount reduction or shut down entirely, underscoring how competitive the wearables market has become.
“The good news is that the wearables market continues to mature and expand,” Ramon Llamas, research manager for IDC’s Wearables team, said in a statement. “The wearables that we see today are several steps ahead of what we saw when this market began, increasingly taking their cues from form, function, and fashion. That keeps them relevant. The downside is that it is becoming a crowded market, and not everyone is guaranteed success.”
Still, there are two areas where the market shows continued growth: smart watches and basic wearables, and they are not in competition, according to Jitesh Ubrani senior research analyst for IDC’s Mobile Device Trackers.
“Right now, we see both as essential to expand the overall market,” he said. “The unique feature sets combined with substantial differences in price and performance sets each category apart, and leaves plenty of room for both to grow over the next few years.”
Fitbit is the top vendor and is followed by Xiaomi, Apple, Garmin, Samsung and BBK. You can see how all this comes together from a chart below.