The wearable tech space seems to be figuring itself out as of recent. In spite of some hiccups in the market from different reports, the latest data from IDC shows that the bump up is around 7.3% year-on-year which is quite good. What is more interesting is the fact that these numbers show an increasing amount of attention going into the space, with consumers moving from low-end devices to those that are at the top of the tech spectrum and well as the financial one.
One of the main players in the market continues to be Fitbit. Their recent decision to move further into the smartwatch section has been quite a positive one for the company. They have had several high-profile acquisitions that have led them to have a higher regard than prior. It is a mixed bag though, with releases helping to boost sales only in the past couple of months as opposed to when they came out with the actual announcements. The fortunes from Fitbit appear to be a little skewed as well, but they have caught back up thanks to the Chinese hardware company known as Xiaomi.
This company has helped to produce quality hardware as cheaper prices which has helped to proliferate the popularity of these devices as the pricing goes down. What was once the leader in the space, Fitbit has gone down in shipments by around 33% year on year. This may seem like a negative for those looking to get into the market, but it is quite the opposite. This shows that the competition in the market has grown by a substantial amount. With increased competition, it is only a matter of time before this industry takes off even more than it has now.