The latest report from market research firm IDC showed that the global wearable device market experienced 35.1 percent year-on-year growth during the third quarter of 2020.
According to the report, the total shipments in the market reached 125 million units, and the increase was driven by the launch of new products and the global epidemic. And helped new products from companies, such as: Apple, Samsung and others to renew interest in common categories, such as: smart watches and headphones.
Meanwhile, consumer spending on electronics has also increased in recent months, as spending on travel, dining and other leisure activities has decreased. This shift in spending was another catalyst for the wearables market.
“Many countries began easing restrictions and opening their economies during the third quarter, which helped boost outdoor activities as well as the demand for wearables,” said Jetsch Obrani, Director of Research at IDC.
“The double-digit growth not only indicates strong demand, it also indicates that many people have bought for the first time a wearable device in both emerging and developed markets,” said Ramon Lamas, research director in the division of mobile devices, virtual reality and augmented reality. .
Lamas added that this growth will positively affect the wearable devices market in the future, as people who purchase these devices for the first time may upgrade their devices in the future.
According to the IDC report, Apple led the market with a share of 33.1 percent during the third quarter of 2020. AirPods with Apple Watch were very popular due to the demand caused by the epidemic. After the launch of the Apple Watch SE, the Apple Watch has become available at different prices.
After Apple, Xiaomi came in second place after shipping 17 million units. Smart bracelets accounted for about 12.8 million units. Lower prices, combined with global expansion, pushed the company forward with an annualized growth rate of 26.4 percent.
Huawei ranked third, with total shipments of 13.7 million units, even with the US sanctions. Samsung continues its strategy to expand the market for headphones with multiple brands. The company came in fourth place, and its shipments of headphones amounted to about 8.4 million units during the quarter, in addition to 2.6 million smart watches.