We are seeing growth in the wearable market worldwide in the past few years. However, there is a significant growth worldwide in 2020, as per a report by IDC. According to International Data Corporation (IDC), the major contributor to the growing wearable market is Apple. Furthermore, it tops the list in terms of market share and shipment.
Apple outranked several traditional Swiss-watchmakers to become the world’s numero uno wearable brand. Moreover, it is keeping its place at the top till now. According to the report, the worldwide shipments of wearable devices reached 153.5 million in the fourth quarter of 2020. On the other hand, Xiaomi in the second position and Samsung at the third spot in the wearable market. Here’s a look at all the numbers we have with us.
Wearables Markets Saw Growth in 2020
The report suggests that the wearables market grew by 28.4% globally. It is leading to a total of 444.7 million units shipped in the year. Additionally, there is also a year-on-year (YoY) growth of 27.2% with 153.5 million shipped units in Q4 2021.
Apple leads the pack with a 36.2% market share in Q4 2020. This is all thanks to the Apple Watch (Series 6, Watch SE, Series 3) and the AirPods. The Cupertino tech major shipped around 55.6 million units in the last quarter of 2020.
Whereas, on the 2nd position is – Xiaomi with an 8.8% market share of the wearable market and 13.5 million shipped units. It stands there due to the increase in its audio segment. However, Samsung is in 3rd position with an 8.5% market share (majorly due to the affordable wristbands) and 13 million shipped units.
Emerging player BoAt saw the biggest jump of a 470% increase in shipments. It should be noted the company exclusively sells only earphones and operates only in the Indian market.
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