Exploring the Top 5 Largest Wearable Technology Companies in the Market
Wearable technology is one of the most exciting and rapidly evolving areas in the tech industry. From smartwatches and fitness trackers to augmented reality glasses and virtual reality headsets, wearable devices are becoming more ubiquitous and innovative every year. In this article, we’ll take a closer look at the top 5 largest wearable technology companies in the market today.
1. Apple
With the success of the Apple Watch, it’s no surprise that Apple is the largest wearable technology company in the world. The company sold over 33.9 million smartwatches in 2019 alone, capturing 31.7% of the market share. One of the most significant advantages of the Apple watch is its integration with the iOS ecosystem, making it easier to use for iPhone users. In addition to health and fitness tracking, the Apple watch can also send and receive messages, make calls, and control smart home devices.
2. Samsung
As one of the largest and most dominant players in smartphones, it’s no surprise that Samsung is also a top player in the wearable technology market. The company released its first smartwatch in 2013, and since then, it has continued to innovate with features such as a rotating bezel for navigation and built-in LTE connectivity. Samsung sold an estimated 8.5 million smartwatches in 2019, giving them a 7.9% market share.
3. Xiaomi
Xiaomi is a Chinese technology company that has quickly become one of the largest wearable technology companies in the market. In 2019, Xiaomi sold 7.9 million smartwatches, capturing 7.4% of the market share. One of the company’s most popular products is the Mi Band, a fitness tracker that offers a wide range of features for an affordable price. Xiaomi is known for its value-oriented products and has been able to capture a large portion of the market share by offering high-quality products at a lower price point.
4. Huawei
Huawei is another Chinese technology company that has quickly risen up the ranks in the wearable technology market. In 2018, the company released the Huawei Watch GT, a smartwatch that boasts a long battery life and impressive fitness tracking features. Huawei sold an estimated 6.7 million smartwatches in 2019, giving them a 6.3% market share. While the company has struggled with controversy and geopolitical issues in recent years, it has continued to innovate and release new products.
5. Fitbit
Fitbit was one of the pioneers of the fitness tracking industry, and the company has continued to evolve with the market. While Fitbit has struggled in recent years with declining sales, the company still sold an estimated 6.2 million smartwatches in 2019, giving them a 5.8% market share. Fitbit is known for its accurate fitness tracking and robust app, which includes features such as sleep tracking, heart rate monitoring, and guided workouts.
Final Thoughts
The wearable technology market is continually evolving, with new products and companies entering the market all the time. While Apple remains the dominant player in the industry, other companies such as Samsung, Xiaomi, Huawei, and Fitbit are also significant players. As wearable technology becomes more sophisticated and affordable, we can expect to see even more growth in this exciting industry.
