4Q22: Wearable Band Market Down by Double-digit

- Advertisement -
  • The wearable band market leader Apple dropped 17% from its stronger quarter in 2021 as it returned to its regular launch schedule
  • In the whole of 2022, basic and smartwatches rose mildly, but basic bands fell 39%, taking the whole wearable band market down by 5%

The global wearable band market witnessed an 18% shipment decline and reached 50 million units in Q4 2022, as per the latest report by Canalys. It further pointed out that it is the first double-digit decline for the market in a typically seasonally strong Q4 quarter. While the smartwatch category faced a double-digit decline of 17%, basic bands saw their ninth consecutive decline of 43%. On a mildly topside, the market for basic watches grew by 3% in this quarter.

(Credit: Canalys)

According to the estimates, a majority of vendors felt the impact of the challenging macroeconomic environment in this quarter. The wearable band market leader Apple dropped 17% from its stronger quarter in 2021 as it returned to its regular launch schedule. Google attained the next position with 16% smartwatch growth with the release of its Pixel Watch. Canalys noted that Xiaomi, Huawei and Samsung all experienced big declines.

(Credit: Canalys)

Canalys expects that with an 8% growth, smartwatches will fare better than the market for basic watches, which is expected to see a 6% growth. It further said that the development will centre on smartwatch OS, with more chances of connectivity and tracking features supported by pragmatic use-cases to debut on smartwatches, backed by consumers’ rising interest in advanced watches.

- Advertisement -

“The wearable band market is expected to grow at a modest 2% in 2023,” commented Canalys Analyst Cynthia Chen. “While we expect basic bands to continue declining, basic watches and smartwatches will grow, but growth will be capped below 10%. Vendors remain vigilant and will emphasize quality rather than quantity is given some recovery in consumer spending.”

Canalys is an independent analyst company which delivers smart market insights to IT, channel and service provider professionals around the world.


 

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

AI Startup Funding Drops 10% YoY In 2023

0
With total investment falling by 10%, 2023 recorded AI startup backing of $42.5 billion, a decline after hitting the peak in 2021 as per...

Electric 2-Wheelers May Cost Less Than ICE Models in 4-5 Years: Report

0
In a scenario where a subsidy of ₹15,000 per kWh is provided, it is anticipated that the upfront cost parity for short- and mid-range...

Thoughtworks And AWS Unveil SDV Pulse For Industry Megatrend Navigation

0
Global technology consultancy and Amazon Web Services have released their first annual report, designed to assist automakers in quickly maximizing the potential of software-defined...

Buzz

Bharat Electronics Secures Export Worth $2.3 Billion For Fy25

0
Defence Public Sector Unit (DPSU) Bharat Electronics Limited (BEL), a leading aerospace and defence electronics company, announced on Friday that it has secured an...

Systrome Technologies Opens Electronics Manufacturing Facility in Thiruvananthapuram

0
To leverage quality telecom equipment production and local employment, Systrome Technologies recently inaugurated a new factory in the state capital of Kerala. A new manufacturing...

Hybrids Struggle For Incentives In Uttar Pradesh; Only FAME II-Certified Vehicles Eligible

0
Senior industry executives noted that Uttar Pradesh is looking to align hybrid and electric vehicle (EV) incentives with the central government's FAME II guidelines....

Important Sectors

Bharat Electronics Secures Export Worth $2.3 Billion For Fy25

0
Defence Public Sector Unit (DPSU) Bharat Electronics Limited (BEL), a leading aerospace and defence electronics company, announced on Friday that it has secured an...

Systrome Technologies Opens Electronics Manufacturing Facility in Thiruvananthapuram

0
To leverage quality telecom equipment production and local employment, Systrome Technologies recently inaugurated a new factory in the state capital of Kerala. A new manufacturing...

Hybrids Struggle For Incentives In Uttar Pradesh; Only FAME II-Certified Vehicles Eligible

0
Senior industry executives noted that Uttar Pradesh is looking to align hybrid and electric vehicle (EV) incentives with the central government's FAME II guidelines....

Hindustan Zinc Partners With Serentica for RE Solutions

0
Aiming for sustainability, Hindustan Zinc is integrating 450 MW of renewable energy into its operations across Rajasthan through a partnership with RE firm Serentica. Hindustan...

Cyient Announces Establishment Of Semiconductor Subsidiary

0
A new subsidiary acquires Cyient's semiconductor technology business, focusing on designing and selling specialised analogue mixed-signal chips using a fabless model amid India's semiconductor...

Manufacturing

India, Russia Partners To Boost India’s Defence Capabilities

0
Backed by Russia, HAL aims to produce and export Sukhoi Su-30 fighter jets in Nashik to enhance India's aerospace prowess and export potential. India's state-owned...

Zapp And Bounce Infinity Partner On Scooter Production at Bhiwadi Plant

0
The partnership will facilitate the manufacturing and distribution of Zapp's i300 electric urban motorcycles across India. Zapp Electric Vehicles Group Limited has unveiled a strategic...

Empowering Innovation: The Role of MSMEs in India’s Defence Sector

0
If large industries are the “face” of the Indian economy as they provide the most visible aspect, then the MSMEs are surely the “firm...

Quality Control With AI-Driven Optical Inspection

0
This collaboration combines optical inspection technology with high-performance Edge AI hardware, significantly improving printed circuit board assembly efficiency, reducing waste, and enhancing overall process...

River Mobility To Invest INR 1,000 cr In New EV Plant

0
River Mobility is gearing up to invest in the automotive industry with a new INR 1,000 crore plant in Telangana, strategic expansions, and robust...