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Wearable technology market continues to grow rapidly

14.12.2019
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In the third quarter of 2019, the wearable bracelet market grew by 65 percent globally. Most of the sales of 45.5 million units belong to Xiaomi.

Wearable technology market continues to grow rapidly

Wearable technologies have become the new favorite of companies. It is not surprising that the numbers are rising rapidly, considering that wireless headphones are also included in this category. Thanks to AirPods’ popularity, Apple is the leader in the wearable technology market. However, the wearable bracelet survey conducted by Canalys aims to shed light on the sales of smart watches and smart bracelets. Therefore, the leader is changing hands.

Average growth of 65 percent

When we look at the growth in smart bracelet and smart watch market by regions, we see the leadership of Asia Pacific. Europe and the Middle East market is followed by 64 percent, followed by 130 percent growth. When we look at the average, we see that the worldwide market has grown by 65 percent.

Leading Xiaomi in terms of quantity

The Mi Band series, which is highly acclaimed worldwide, especially in our country, has strengthened Xiaomi’s hand in wearable technology. In this respect, it is not surprising that in the third quarter of 2019, it has a 27% market share in terms of numbers. In fact, the Mi Band bracelets are becoming more interesting for iOS users, even in the price sensitive areas. Xiaomi is followed by Apple with 15 percent. At this point, however, most of Apple’s sales come from the newly introduced Apple Watch Series 5. Therefore, in terms of profitability, Apple is by far the leader can be estimated.

The third is Huawei, which has grown 243 percent compared to the previous year, especially with the help of sales in China. Huawei is followed by Fitbit, which is in a downtrend, and Samsung, which maintains its line.

We see Xiaomi growing rapidly, especially in Europe and the Middle East. The right steps in these areas have contributed to the company’s wearable technology sales. As you can imagine, the Chinese market, which grew by 60 percent, has Xiaomi and Huawei leadership. However, Appleā€™s share in China managed to increase said.

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