Categories Earnings, Technology, U.S. Markets News
One in four smartwatches in 2023 will be produced by Apple: Report
Apple will establish leadership in the smartwatch segment in the next 4 years, a recent study reveals. The IDC Worldwide Quarterly Wearable Device Tracker predicts that the iPhone maker will capture 25.9% of smartwatch market share by 2023.
Other brands, which run on operating systems such as Android, Tizen and WearOS will make up the rest of the market share, the report says.
Overall sales of smartwatches are predicted to grow to 131.6 million units from 91.8 million units between 2019 and 2023 at a compound annual growth rate (CAGR) of 9.4%.
Research manager at IDC Jitesh Ubrani said, “Among all watches, close to half will have the ability to connect to a cellular network by 2023 as consumers along with enterprises and healthcare look to free the watch from the phone and as telcos push forward subsidies or financing options for watches with cellular service.”
Watches, earwear to drive wearables
According to IDC, the global shipment of wearable devices will grow at a CAGR of 7.9%. Global shipments are expected to grow to 302.3 million units by 2023, from 222.9 million units expected by the end of this year.
Over 70% of these shipments will be constituted by earwear devices and smartwatches. Ear-worn devices are projected to grow to 105.3 million in 2023 from 72 million units expected this year.
“Ear-worn devices, while still centered on providing audio, will nudge into other areas like language translation, smart assistant deployment, and coaching,” said IDC research director Ramon T. Llamas.
Most Popular
StubHub Holdings set to enter public markets. Here’s what to expect
After a modest start to the year, the IPO market is witnessing an increase in activity led by technology and healthcare companies. StubHub Holdings, a leading online ticket marketplace for
Can Beyond Meat (BYND) overcome its persistent challenges?
Shares of Beyond Meat, Inc. (NASDAQ: BYND) stayed red on Tuesday. The stock has dropped 19% over the past three months. The plant-based meat company continues to struggle in terms
CarMax (KMX) likely to report strong earnings growth for Q4 2025
After reporting robust earnings growth for the third quarter, CarMax, Inc. (NYSE: KMX) is preparing to publish Q4 results next week. Over the years, the company has fostered customer loyalty
Comments