14 DAY TRIAL // A forecast released by market research firm IDC indicates that watches are going to dominate the wearable industry in 2019, with one particular model to set itself apart from the rest of the pack.
This is obviously the Apple Watch, which IDC says would help the overall watch market to reach a market share of no less than 45.6 percent in terms of wearables shipments.
The wearable category defined by IDC also includes clothing, earwear, wristbands, and watches, with this last section also grouping hybrid watches and models built for children with GPS tracking.
Apple Watch, the king
In 2018, watches accounted for no less than 44.2 percent of all wearables sales, and this figure is likely to improve even more in 2019, according to the same forecast. The growing trend will be maintained in the coming years, so by 2023, it should represent no less than 47.1 percent of the entire market.
“Smartwatches from Apple will undoubtedly lead the way and despite increasing competition from watches running forked versions of Android as well as Wear OS, WatchOS will account for 27.5% of all watches in 2023. Other than smartwatches, hybrid watches and simpler kids' watches will also continue to grow albeit at a much slower pace,” IDC says.
At the same time, the research firm estimates that earwear, a category that’s getting the attention of Apple, Samsung, and other companies, “will be the second largest category of wearables in 2023 with 31 percent.”
The main catalyst of the growing sales will be the new technology being added to earphones, like smart assistants and biometric sensors.
As for wristbands, Huawei and Xiaomi will remain the dominant brands in this market, but this category is only projected to experience a flat growth, especially as the attention seems to switch to smartwatches.