Apple’s New Series 4 Is Reshaping the Wearable’s Market as We Know It
No doubt wearables have become the ‘it’ thing in the IT market. As a matter of fact, the shipment in worldwide wearables grew by an impressive annual of 5.5 percent, to hit a mammoth of 27.9 million in the second quarter of this fiscal year.
This is according to data released by research firm IDC. Additionally, the increase of demand on pricier watches made a contribution towards the segment’s dollar value, enabling it to rise by 8.3 percent to an impressive $4.8 billion.
Additionally, Apple (NASDAQ: AAPL) managed to maintain its position at the apex, all due to its consumers having an insatiable demand for its LTE-enabled Apple Watch. According to IDC, this can be greatly contributed to the recent infusion of the watchOS 5 to the market. Plus the highly anticipated launch of the Apple Watch 4 could only serve to increase this lead much further!
Current Market Standings
That being said, Xiaomi (NASDAQOTH: XIACY) (NASDAQOTH:XIACF)(SEHK: 1810)has maintained its domination of the lower-tier of the market, especially due to the popularity of its Mi Band devices which cost a mere $30. Additionally, the company also widened its portfolio by introducing smart devices for children’s shoes and watches.
On the other hand, Fitbit (NYSE:FIT) which hasn’t had it so easy thanks to Apple, and has continued to incur massive losses in its share market. This is due to the fact that there is an increasing reduction in the demand for midrange to basic fitness trackers.
Additionally, Fitbit was the only leader in the market to record a massive drop in its year over year shipments.
That being said, IDC has indeed confirmed that Fitbit’s Vera Smartwatch was still the world’s second largest brand in the smartwatch fraternity, having over 1.1 million units in terms of shipment.
However, IDC experts strongly believe that there is still room for the aforementioned companies to experience growth in terms of wearable shipments. As a matter of fact, they predict that shipments will record a rise from 124.9 million this year to roughly 200 million units by 2022.
As a matter of fact, these trends showcase the preference that individuals, especially millennials, are having towards wearable technology. Here are some of the reasons why wearable technology is so popular today.
It Improves One’s Personal Safety
The likes of Wearsafe have enabled individuals to relay important information regarding their speed of travel, their location, and their audio to their phone or to their network. In the event that they are in serious trouble, perhaps stuck between a rock and a hard place, or have even been kidnapped, they can transmit this information to enable individuals to know about their whereabouts.
Is Great for Tracking Health and Fitness
Thanks to wearable technology, you don’t have to always go to the doctor to determine your blood pressure, your temperature, and other body vitals, especially when you exercise. With the help of your wearable smartwatch, you can determine all these factors plus so much more.
You can also do other activities such as sleep monitoring. In fact, there is even an earphone that is used to monitor one’s heart rate in real time!
Makes Connectivity so Much Easier
Thanks to wearables having features such as a smart ring, you can easily be alerted when there’s both an outgoing and an incoming email and SMS. Moreover, the technology can also assist you to find your phone in the event that it is missing. That being said, it is wort that ring technology has been there for quite a while. One can trace it back to the Qing Dynasty era. So can you imagine that it first came before the watch and even the calculator? In ancient times, the ring contained the abacus, and it was the smartest ring of that century.
That being said, the wearable technology spectrum provides individuals with plenty of opportunities to invest in. Though the likes of Apple and Fitbit are currently dominating the industry, who’s to say that no new investors can give it a short? What’s clear for now is that the Apples Series 4 is currently the talk of the town. With only a couple of more days to go, it’s release is highly anticipated by Apple and tech fans alike.
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