According to a new report from IDC, market share in wearable device shipments for Q2 2016 saw fairly significant shifts relative to previous quarters. Most notably, the Apple Watch saw its number of shipments drop more than 50% year-over-year. Garmin also continues their strong growth, effectively grabbing the number three spot in the rankings. Total shipment volume for the quarter came to 22.5 million units, up 26.1% from the 17.8 million units shipped in Q2 2015. The table below breaks down the details of the shipments and ranks the leaders by market share.
Fitbit Remains At The Top
Fitbit ended the quarter the same way it began it: as the undisputed worldwide leader of wearable devices. In Q2 2016, the global leader was able to hold their top ranking with market share in line with Q2 2015 (~25%). The latest Charge 2 and Flex 2 devices indicate that the company is maturing by giving form and function equal importance. Fitbit's recent acquisition of the wearable payment assets of Coin also indicate the company is looking to expand features that will help improve retention.
Xiaomi Continues To Focus In Asia And On Cost
Xiaomi delivered approximately the same number of units year-over-year (3.1 million), resulting in a small drop in market share from 17.2% in Q2 2015 to 14.0% in Q2 2016. Despite this drop, Apple’s significant drop in units allowed Xiaomi to move to the second spot in the rankings. The Xiaomi Mi Bands remain extremely popular in China, and in every technology market, Xiaomi continues to focus on the value conscious consumers. The challenge for Xiaomi, however, is growing beyond China's borders and onto the global stage.
As the only one of the market leaders to see a drop in units shipped (and a big one), Apple likely suffered from not having launched a new device since it debuted the Apple Watch. The good news for the company is that it launched the new Apple Watch at their event last week.
Garmin = Growth
By quadrupling the growth of the entire market, Garmin is becoming a force to be reckoned with, especially in the Americas and Europe. It continues to launch a number of devices for all types of users, which should bode well for their shipment growth.
The rise of numerous devices with no single brand comprising the majority of the market share creates a challenge for employers. This challenge is why Wellable encourages the implementation of a bring your own device (BYOD) strategy for wellness. A BYOD strategy for wellness allows employers to embrace all forms of wellness technologies, including devices and apps that are not Fitbit, Apple Watch, or Xiaomi. It will enable consumer choice and result in lower costs for your program. Download our free white paper for more information on BYOD for wellness.