Fitbit doubles sales year-on-year but increased competition sees marketshare fall
11.4 million wearables wearables were sold globally in Q1 2015, three times as many as a year previously (Q1 2014: 3.8 million).
IDC says that Fitbit remained the market leader, doubling its sales to 3.9 million (1.7 million) giving it a 34.2 per cent of the market.
However, Fitbit’s share of the market fell year-on-year from 44.7 per cent to its current levels, thanks to increased competition in the sector.
The past year has seen smartwatch launches from Motorola, Sony, Samsung, LG, Huawei and fitness trackers from a huge amount of companies.
Second placed Xiaomi, a new entrant to the market in 2014, gained a 24.6 per cent share with sales of 2.8 million.
More than 40 per cent of wearables sold cost under £65 ($100), according to the analyst firm.
“Bucking the post-holiday decline normally associated with the first quarter is a strong sign for the wearables market,” said IDC wearables research manager Ramon Llamas. “It demonstrates growing end-user interest and the vendors’ ability to deliver a diversity of devices and experiences. In addition, demand from emerging markets is on the rise and vendors are eager to meet these new opportunities.”
Llamas added that the Apple Watch, which was released in the current quarter, will become the device that other wearables are tested against, further intensifying competition.
Third placed Garmin more than doubled its sales to 700,000 units (300,000) but still saw its marketshare slide from 7.9 per cent to 6.1 per cent.
Samsung also increased its shipments to 600,000 in the quarter (300,000) with a 5.3 per cent share of the market (7.9 per cent).
Jawbone, the only other specialist wearables manufacturer in the top five, increased its sales from 200,000 units to 500,000. However, its marketshare fell again from 5.3 per cent to 4.4 per cent.
2.9 million devices from other manufacturers including Sony, Pebble, LG and Motorola, were sold in the quarter, giving this group a share of 25.4 per cent.