The Chinese market for wearable devices reached 27.15 million units shipped in the third quarter of 2019,up 45.2%from 20.97 million units in the same time period last year,according to areportfrom market research firm International Data Corporation(IDC).The report predicts the market to reach 200 million units in 2023.
The IDC report predicts wearable devices shipments to reach 200 million in 2023. (Image credit:TechNode/Eliza Gkritsi)
Why it matters:The report highlights the fast growth of China’s wearable devices market,and the fact that Chinese companies are the biggest players in this field.
Xiaomi remains the market leader in wearable devices,accounting for a quarter of total shipments. (Image credit:TechNode/Eliza Gkritsi)
Details:Xiaomi is leading the market,with a quarter of all shipments,but Huawei saw the biggest increase in shipments.The Shenzhen-based telecoms giant saw its shipments almost double in the last year,doubling its market share from 10.7%in the third quarter of 2018 to 20.7%in the third quarter of 2019.
The market saw some consolidation in the time period, as the total share of the top five companies grew from 59.8%to 70.2%in that time period.
BBK Electronics,the parent company of Oppo,is the only company in the top five that saw its market share decrease,from 9.8%to 7.7%.
Context:XiaomiovertookApple as China’s largest seller of wearable devices in 2018.