Wearables shipments worldwide market share 2014-2023, by vendor

Apple is establishing a solid hold on wearable device unit shipments with 20.2 percent in the third quarter of 2023, dominating the market.

Competition

With a strong presence in the health and fitness wearable market, Fitbit had been a leader in the wearable industry since early 2014, when the company held about 45 percent of the market share. In 2021, it was acquired by Google. Xiaomi, a Chinese electronics company, has gained market share in 2015 and now is the third biggest wearable vendor in the world, with 7.8 percent of the market share in the most recent quarter.

Apple - market leader

In 2022, Apple was the leading wearable vendor, thanks to the successful introduction of the Apple Watch to the smartwatch market. The smartwatch market is a promising segment within the wearable industry, as the global smartwatch shipments increased in the last years. Apple shipped nearly 30 million units in the third quarter of 2023. Yet, Apple faces tough competition from many vendors entering the market, especially from China. In the latest quarter, over 49 percent of the market share was held by many companies categorized as others.