The wearable tech products market share has hit its first ever dip ever since the category took off. However, Apple Watch has managed to stay at the top position in this quarter leaving Xiaomi, Fitbit and other leading fitness band brands behind.Apple has reportedly shipped 3.8 million units of Apple Watch in Q1 2017 subsequently recording a 77 percent growth. The latest report by Canalys suggests that users are switching to smartwatches for ‘greater functionality’ which has led to the decline in sales of fitness bands. Apple Watch leads the market for smartwatches and the category currently accounts for 40 percent of the total market share of wearable products. Also Read - Apple Watch can soon measure blood pressure, blood glucose and alcohol level: ReportAlso Read - iOS 14.5 update: How to unlock your Apple iPhone with the face mask on
Jason Low, Canalys Analyst says water resistance, Bluetooth music streaming, and built-in GPS are becoming more relevant as runners and other fitness enthusiasts forgo the bulk of a smartphone.” He further adds, just as we continue to see feature phone users upgrading to smartphones, basic band users find smartwatches to be a justifiable upgrade, because of their additional use cases. What sets the Apple Watch apart is a renewed focus on fitness, its co-branding with Nike helping to support this move. In addition, the availability of a wide range of accessories means the Apple Watch appeals to tech-savvy consumers with an eye for fashion. ALSO READ: Apple acquires Beddit, a popular Apple Watch and iOS sleep tracking platform Also Read - Molife Sense 500 smartwatch review: Don't have the money for an Apple Watch? Try this instead
A pioneer in the category, Fitbit noted a 30 percent sales decline of its wearable product. The company managed to ship 2.9 million units globally in Q1 2017. Despite the launch of AltaHR, Fitbit hit low in terms of sale as anticipation grows for the beefed-up successor to its Blaze smartwatch. Relatively a newbie in the category, Xiaomi with its entry-level fitness band priced low also could not make a significant mark in this quarter.
Per reports, market share for smartwatches seems to continue growing as better sensors and improved battery life draw customers attraction. Also, user interface and rapidly increasing ecosystem of apps for smartwatches are said to favor the growth in this category of wearable products.