The global wearable shipments rose to 125 million devices, which was a 35 percent jump in the third quarter of 2020, according to research firm International Data Corporation (IDC). This was also the first time that an Indian company, BoAt made it to the top five in the list of wearable vendors. BoAt primarily focuses on audio devices.
IDC notes that this surge in sales of wearable devices was “driven by seasonality, new product launches, and the global pandemic.” Keep in mind that IDC’s report includes smartwatches, wristbands, audio wearables in its calculations. The quarter also saw the launch of new products from Apple, Samsung, etc and consumers also increased spending on electronics, given other activities such as travel, dining out, took a hit.
“Many countries began easing restrictions and opening up their economies during the third quarter, which helped bolster outdoor activity as well as demand for wearable. Meanwhile, a broader range of price points from numerous vendors meant that there was something for everyone,” Jitesh Ubrani, research manager for IDC Mobile Device Trackers said in a press statement.
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“The double-digit growth not only indicates strong demand, but also suggests that many people got a wearable device for the first time in both emerging and developed markets. Consider what this means: a larger installed base of wearable device users going forward and a larger opportunity for device replacements in the years to come. And, as some wearers own multiple devices – like earwear and wristwear – the wearables market will enjoy sustained demand,” Ramon T Llamas, research director, Mobile Devices and AR/VR said.
Apple remains the market leader in the wearables segment with a massive 33.1 percent share as both AirPods and Apple Watches remain a popular choice. Plus the launch of the Apple Watch SE at a more affordable price ensured more wearables at different price points.
Xiaomi followed in second place with 17 million units shipped, 12.8 million of which were basic wristbands. Huawei ranked third with unit shipments totaling 13.7 million. Despite facing US sanctions, the company was able to drive growth across multiple markets although its shipments were concentrated in China.
Samsung was number four in the list as its hearable shipments reached 8.4 million during quarter along with 2.6 million smartwatches.
Indian company BoAt managed to grab the top five spot along with Fitbit. Both had a 2.6 percent share of the market. Commenting on BoAt, IDC said that post the lockdown in India, the company has benefitted from to a strong marketing campaign and tie-ins with local cricket teams. But IDC also pointed out that unlike many of its competitors, BoAt lacks the global presence and supply chain, which could make it difficult to sustain this kind of momentum.
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