In the past few years, Apple has managed to set a large wearable portfolio and it’s safe to say that Apple’s smartwatches – Apple Watch and Apple’s true wireless earbuds – AirPods have set an industry standard because of its popularity. According to a report by International Data Corporation (IDC), the wearables market is on a decline however Cupertino’s tech giant has shown a rising figure when it comes to its smartwatches – Apple Watch.
Is the wearable market declining?
There is a decline in buyers of wearables in the market, as the IDC report says. IDC adds that there could be multiple factors supporting this decline: rising inflation, fears surrounding recession and more. The wearable market hasn’t been declining since ages – it saw a hyper growth in the last two years which was always going to be “tough to sustain,” said IDC. The report further claims that the shipments declined 6.9% year over year to 107.4 million units.
Rising inflation and less demand for the product could be one of the factors behind the data, however, the growth will return in 2023 as demand for watches and earphones is expected to climb again, according to IDC.
Apple Watch makes it to number one
According to IDC, Apple has grown 6.6% year over year, primarily because of the performance. Apple is said to have shipped over 2 million units of Apple Watch SE, as per IDC. IDC says that it’s a great thing for a device which is more than one and half years old. International Data Corp wasn’t vocal about the number for AirPods but did mention that the shipments of AirPods were flat during the quarter as the company faced more competition from low-cost products.
Furthermore, IDC adds that Apple remains the top firm in the market as it had over 30.5% market share with 32.1 million shipments in the second quarter of 2022. Apple remains the number one, followed by Samsung, Xiaomi, Huawei and Imagine Market.
