As personalized data of consumer wellness becomes an expected dynamic available for frequent referral, wearable devices mapping activity are thriving. Shipments of wearable products such as Fitbits and smartwatches increased dramatically in the second quarter, according to International Data Corporation‘s, or IDC’s, worldwide wearable device tracker. Nearly 23 million units were ordered in the second quarter alone, rising 26 percent compared to the same period last year.
However not all wearables are created equal. Basic versions (devices that do not support third-party applications such as a Fitbit) amounted to approximately 83 percent of the shipments in the quarter, according to the research.
In lieu of the release of the next Apple Watch model, smart wearables (devices that support third-party applications) declined 27 percent compared to last year. Of the brands reviewed, Apple was the only company that suffered a slip in shipments. Fitbit topped the list of market share at approximately 25 percent, followed by Chinese supplier Xiaomi at 14 percent.
There’s still opportunity to join the market, but think outside of the box when approaching product development. Consumers’ expectations are only rising when it comes to customization and accessibility for personal data. Ramon Llamas, research manager of wearable and mobile phones at IDC said, “As the market becomes increasingly crowded, it is important for companies — both tech and fitness — to differentiate themselves further from the copycat and me-too products and experiences.”
What’s a brand to do with when developing a new wearable product? “Leverage descriptive data against big data to reveal new insights and provide actionable advice [to] further attention and adoption,” said Llamas.
The IDC quarterly wearable device tracker reviews vendors, technology, market opportunity and trend analysis in the wearable device space. The tracker categorizes the products into two types — basic and smart — in order to develop deep research for comprehensive deliverables. The tracker conducts independent market analysis in order to facilitate informed forecasts in relation to past and future trends.