Market for wearable bracelets grew 6% last year; Apple led

2023-09-19 12:23:59

New estimates of Canalys show that they were sold 44 million of bracelets for wearables across the world in the second quarter of 2023 — which represents annual growth of 6%.

As this market niche accompanies the smartwatch segment itself, it is not a surprise that the Apple led it in the last quarter, with around 8.1 million of bracelets sold — one snapped up market share of 18%, a drop of 3% compared to the same period last year. She was followed by Xiaomi (11%), Huawei (10%), Noise (8%) e Fire-Boltt (7%), respectively.

According to Canalys, the segment’s growth was due to the availability of affordable options and consumers’ cautious attitudes towards higher-priced alternatives. Additionally, vendors introduced a number of new wearables in the second quarter to strengthen their presence in the market.

The market for wearables is coming back to life, driven by growing consumer demand in various aspects of daily life. Demand across different segments is recovering, pushing suppliers to meet consumers’ specific needs.

Jack Leathemresearch analyst at Canalys.

The prospects for the market are also positive, according to Cynthia Chen, research manager at Canalys. She said that while short-term economic factors may be a drag, the “lasting appeal” is in the long-term quality and benefits. Therefore, the firm predicts that the market for wearables is poised for 4.1% growth by 2027, supported by “changing consumer needs.”

It is worth noting that Apple launched new straps for Apple Watches with the announcement of the new models last week.

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