The global wearables market grew 35.1% year over year during the third quarter of 2020 (3Q20) with total shipments reaching 125 million units according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker. Apple led the market.
IDC says the surge was driven by seasonality, new product launches, and the global pandemic. New products from Apple, Samsung, and others helped renew interest in popular categories such as smartwatches and hearables, according to the research group. Meanwhile, consumer spend on electronics also increased during recent months as spending on travel, dining out, and other leisure activities decreased. This shift in spending was another catalyst for the wearables market.
Apple led the market with 33.1% share during the quarter. IDC says that AirPods along with Apple Watches were hugely popular due to pandemic driven demand. Apple’s expanding Watch lineup also ensured that devices were available at multiple price points including new mid-level products such as the Watch SE.
“The double-digit growth not only indicates strong demand, but also suggests that many people got a wearable device for the first time in both emerging and developed markets,” says Ramon T. Llamas, research director, Mobile Devices and AR/VR. “Consider what this means: a larger installed base of wearable device users going forward and a larger opportunity for device replacements in the years to come. And, as some wearers own multiple devices – like earwear and wristwear – the wearables market will enjoy sustained demand.”
