While the overall smartwatch market is experiencing steady growth, Apple’s hold on share continues to slip according to ABI Research. The Apple Watch 4 is an advanced device, offering the usual notifications, fitness and heart rate tracking, as well as an LTE option, Siri, and extra features such as a fall sensor and ECG readings in the United States.
While few devices offer similar options, particularly the latter two, a large number of other smartwatches are available from companies such as Fitbit, Huawei, and Samsung, many at a cheaper price with longer battery life and improved smartphone compatibility, albeit with fewer features. Consumers are increasingly weighing up the benefits and costs between the extra features and the longer battery life/cheaper price.
- Smartwatches will see shipments increase from 40 million in 2018 to over 99 million in 2023.
- Apple’s share of the market in 2Q and 3Q 2018 will drop to 43.35%, its lowest point since the same time last year.
- Fitbit, Huawei, and Samsung following behind at roughly 8% each, with the ‘others’ market seeing an increase in the share.
Stephanie Tomsett, Research Analyst at ABI Research