Juniper Research: Smartwatch Shipments to Reach 166 Million by 2023, As Big 4 Smartwatch Vendors Set to Lose Market Share

It claimed that an intensified focus on healthcare integration will also contribute to the increase of smartwatch shipments over the next few years.

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Tuesday, February 19, 2019
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Tags: 
Technology, Consumer electronics, Hardware, Health, Fitness & Nutrition, Mobile, Wireless, Professional services, Consulting, Technology, Wearable devices, Computing, Human–computer interaction, Wearable computers, Ubiquitous computing, Personal digital assistants, Smartwatch, Withings, Garmin, Fitbit, Juniper
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United Kingdom, Europe
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Summary
Key Points: 
  • It claimed that an intensified focus on healthcare integration will also contribute to the increase of smartwatch shipments over the next few years.
  • Juniper forecasts that Apple and Withings will lead the way in terms of healthcare integration, followed by Fitbit and Garmin.
  • The rise of smaller players is linked to the rapid expansion of the Chinese market offering lower-priced smartwatches.
  • Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.


A new study by Juniper
Research has found that the 4 biggest smartwatch vendors, Apple,
Fossil, Fitbit and Samsung, will have their market share for
connected watch shipments fall to 47% by 2023, down from an estimated
58% in 2018. The decline is linked to the growth of smaller players,
including Garmin, Huami and Huawei amongst others.

While Apple will remain the largest single vendor in terms of shipments
over the next 4 years, Huawei will enjoy the fastest growth, with a CAGR
of 20%.

Juniper’s new research, Smartwatches:
Digital & Hybrid Vendor Strategies & Forecasts 2019-2023,
found that smaller players will thrive thanks to strategies tailored for
niche markets, use cases or price points; while others are releasing
premium smartwatches combining the best of fitness, outdoor activity and
health features.

It claimed that an intensified focus on healthcare integration will also
contribute to the increase of smartwatch shipments over the next few
years. Juniper forecasts that Apple and Withings will lead
the way in terms of healthcare integration, followed by Fitbit
and Garmin.

For more insights, download our free whitepaper, Healthcare
~ The Future of Smartwatches.

China to Become the Biggest Smartwatch Market

The rise of smaller players is linked to the rapid expansion of the
Chinese market offering lower-priced smartwatches. Far East & China has
now overtaken North America as the most dominant market, with over 24
million smartwatches shipped in 2018 against 19.5 million for North
America.

The gap between these two markets will deepen further by 2023, with Far
East & China trebling its shipments by that time.

A Slower Hybrid Market

The adoption of hybrid smartwatches will be slower than expected; hybrid
smartwatches represented an estimated 22% of all smartwatches in 2018.
This slower growth is linked to smaller players focusing on digital
smartwatches offering more possibilities in terms of apps, connectivity
and sensors than hybrid watches, which remain limited in their
functionality.

Juniper Research provides research and analytical services to the global
hi-tech communications sector; providing consultancy, analyst reports
and industry commentary.

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