Shipments of smartwatches will overtake activity trackers by 2020, ABI Research predicted, as an increasing number of vendors pounce on growing popularity of the devices.
ABI Research forecast smartwatch shipments will increase from 40 million in 2018 to more than 108 million in 2023. During the same period, activity tracker shipments will grow from 52 million this year to 67 million.
Stephanie Lawrence, research analyst at ABI Research, said activity tracking and a range of other features are being added to smartwatches, “which is increasing their desirability and popularity by consumers and enterprises”.
“Users do not want multiple devices that can do the same thing. It’s natural that they will opt for the smartwatch which has more functionality and as the number of different smartwatches available continues to grow, an increasing number of customers are opting for devices other than the Apple Watch.”
Indeed, ABI Researach added Apple’s share of the smartwatch market dropped 14 per cent between Q4 2017 and Q1 2018, allowing other vendors to gain a bigger presence.
The company this week launched the Apple Watch Series 4, touting new health capabilities as a premium selling point.
However, ABI Research said customers are opting for a wider range of devices rather than just the Apple Watch, with vendors including Samsung, Motorola and LG Electronics increasing market share between Q4 2017 and Q1 2018.
Activity trackers are also included in devices including Apple Watch, Samsung Gear S3 and LG Watch.
Fitbit, a pioneer of activity trackers, is also increasing its share in the smartwatch market following the launch of its latest devices in this segment, which also indicates a market shift.Subscribe to our daily newsletter Back