Smartwatch sales are on the decline.
Samsung Gear S2
The Smartwatch market saw a 32 percent decline year-over-year while sales of the Apple Watch, specifically, have plummeted 55 percent.
Despite its dismal sales, Apple Watch is still at the top of the Smartwatch heap.
“Consumers have held off on smartwatch purchases since early 2016 in anticipation of a hardware refresh, and improvements in WatchOS are not expected until later this year, effectively stalling existing Apple Watch sales,” IDC senior research analyst Jitesh Ubrani said in a press release. “Apple still maintains a significant lead in the market and unfortunately a decline for Apple leads to a decline in the entire market. Every vendor faces similar challenges related to fashion and functionality, and though we expect improvements next year, growth in the remainder of 2016 will likely be muted.”
One problem, according to IDC Wearable team research manager Ramon T. Llamas, is the absence of traditional watchmakers in the Smartwatch market.
“To date, only a small handful of traditional watchmaker brands have entered the Smartwatch market, trailing far behind their technology brand counterparts,” Llamas said. “This seems to be changing, albeit slowly, as key vendors like Casio, Fossil, and Tag Heuer have launched their own models to the market. Still, participation from traditional watchmaker brands is imperative to deliver some of the most important qualities of a Smartwatch sought after by end-users, namely design, fit, and functionality. Combine these with the brand recognition and distribution these brands already have, and it’s reasonable to expect the Smartwatch market to grow from here.”
Here is how the top Smartwatch makers stack up:
Jennifer Cowan is the Managing Editor for SiteProNews.
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