Apple’s Smartwatch Market Share Predicted to Remain Unchallenged for Nearly Half a Decade
Apple is currently the smartwatch market share leader and according to IDC, that dominance isn’t going anywhere for the next five years at least. The company detailed its findings in its quarterly report, where it also laid down its predictions for the wearables market. It looks like the wearable market is set to grow even further guess who’s going to be leading the pack? None other than Apple.
IDC predicts wearable shipments to go from 222.9 million units in 2013 to 302.3 million units in 2023, with smartwatches going from 91.8 million units this year to 131.6 million units in 2023. As is apparent from the shipments, much of the growth in the wearables market will be driven by watches. Currently, smartwatches account for 41.2 percent of this product category, and towards the end of 2023, its share in the category is expected to be around 43.5 percent.
IDC also says that Apple’s smartwatch market share will continue to remain unrivaled primary because of the increasing demand for its products, which means, that brand image is largely at play here. By the end of 2023, the Cupertino giant is expected to account for 25.9 percent of the sales in the smartwatch category.
The rest of the market will be shared by Android, which is mostly taken up Chinese manufacturers, and watches running other operating systems such as Samsung’s Tizen. It goes without saying that Apple is expected to lead with a wide margin, even in the coming years.
Apart from smartwatches, earwear such as AirPods are also expected to boost growth in the wearables category. Watches and ear-worn accessories combined will account for 70 percent of all wearable sales by 2023, according to IDC. Wristbands, on the other hand, will only go up in popularity 0.3 percent from 2019 to 2023 and are expected to make up 18.2 percent of the market.
The expected increase in the global shipments of earwears and smartwatches can be attributed to the fact they have increasingly become multi-functional devices, offering a host of features such as health tools, smart assistant, and cellular connectivity.
News Source: IDC
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