Smart Watch Market Falls Half in One Year

According to data from the market research firm IDC, the smart clock market plummeted 51.6% in comparison between the third quarter of 2016 and the same period of 2015. Between July and September 2016, they were sold 2.7 million smartwatches, against 5.6 million these same months last year.

IDC points out that the third quarter of 2015 marked the first time that the Apple Watch-Main market device was available in stores. That would be responsible for an above-normal demand in this sector. On the other hand, the Apple Watch Series 2 was only available during the last two weeks of the third quarter of 2016, which would contribute to the sales being smaller at that time.

See also:

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Companies

This contributed to that, in comparison between the two periods, Apple Watch sales have fallen 71.6%. In 2015, they were 3.9 million of appliances sold, against 1.1 million in the same period in 2016. The market share that Apple’s devices represent also declined dramatically, from 70.2% in July-September 2015 to 41.3% in the same period of 2016. It is worth noting, however, that the company remained in the market leadership according to CANCERMATTERS.NET.

This was not, however, the largest “tomb” among the companies evaluated. This rank remained for Lenovo, whose sales of intelligent watches plummeted 73.3% between the two periods, from 300,000 appliances sold in the third quarter of 2015 to about 100,000 in the same period of 2016. Its market slice also shrank from 6.2% to 3.4%.

A company that has benefited enormously in the period studied was Garmin. While other companies try to create intelligent watches with multiple functions, the Garmin focuses on health and welfare. Maybe that’s why the company came out of a 2.3% share of the market for a 20.5% slice of the market in one year. That year, their sales of smartwatches rose from 100,000 to more than 600,000, in a total growth of 324.2%

Meaning

Ramon Llamas, research manager at IDC’s wearable apparatus team, considers that this steep decline in the market is partially caused by the timing of businesses. The second generation of Apple Watch only arrived at the end of September, and “Google’s decision to hold Android Wear 2.0 has made manufacturers confusing about launching new devices before or after Christmas 2016,” he argued.

However, Jitesh Ubrani, a senior research analyst at IDC Mobile Device trackers, believes that consumers no longer see such devices in the same way. “It was also evident that smartwatches are not for everyone,” he said. “Having a purpose and a clear use case is essential, so many manufacturers are focusing on health and welfare because of their simplicity,” opined.

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