Global Wearables Vendor Market Share: Q1 2023
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The race for the top wearables spot continues as Apple, Huawei, and Samsung battle it out. Global wearables shipments declined for the second consecutive quarter in Q1 2023 amid continued economic weakness and geopolitical uncertainty, causing a lengthening replacement cycle and limiting consumer spending. The rate of decline, however, has significantly slowed and we expect a return to growth during H2 and for full year 2023 as new models from top brands like Apple, Huawei, and Samsung enter the market and the macro environment improves. Smartwatches still lead the wearables space by device type, while growth in feature watches, particularly in India from brands like BoAt, Noise, and Fire-Boltt, stood out during the quarter. Google (Pixel Watch) and Honor have been added to the tracker from Q1 2023. Our report tracks global wearable shipments and market share by hardware vendor by quarter. Total wearables, for this report, include smartwatches, fitness bands, smartglasses, untethered virtual reality headsets, feature watches, hearables, jewelry/apparel/shoes, and others. Our report can be used by device makers, component suppliers, operators, software developers, content suppliers and other stakeholders to determine the size of the total global wearables market.
