The smartwatch market is growing, dominated by the Apple Watch

13. 2. 2019

Apple has already boasted several times in the past about the success achieved by its Wearables category. It includes, among others, the Apple Watch, which manages to bite off an increasingly large share of the relevant market. During the twelve-month period ending last November, the share of the number of smartwatches sold increased by 61%.

The market for smart watches and similar wearable electronics is dominated by three names – Apple, Samsung, and Fitbit. This trio has a total of 88% of the market, with the unequivocal leader being Apple with its Apple Watch. According to NPD data, 16% of US adults own a smartwatch, up from 2017% in December 12. In the group of people aged 18-34, the share of smartwatch owners is 23%, and in the future NPD estimates that the popularity of these devices will grow even among older users.

Functions related to health and fitness are especially popular with smart watches, but according to NPD, interest is also growing in functions related to automation and IoT. 15% of smart watch owners state that they use their device, among other things, in connection with controlling elements of a smart home. Along with the increasing versatility of smartwatches, NPD also predicts an increase in their popularity and expansion of the user base.

In announcing its Q1 2019 financial results, Apple said revenue from its wearables segment grew 50% during the quarter. The Wearables category includes, for example, AirPods in addition to Apple, and the income from it is close to the value of the Fortune 200 company. Tim Cook said that the Wearables, Home and Accessories categories saw a total increase of 33%, and the Apple Watch and AirPods have the biggest share in the success of the Wearables category.

Source: NPD

Topics: Fitbit, automation, smart home, financial results, household, AirPods, Samsung, Tim Cook, Apple Watch, function

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