Drop in shipments of wearable devices in the second quarter of 2022. | ICT Business | TechBuzz

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The wearables market faced another challenging period in the second quarter of this year as global shipments fell 6.9 percent year-over-year to 107.4 million units, according to IDC. Demand has been slowed by rising inflation, fears of a recession, increased spending on other non-tech categories and the hyper-growth the wearables market has experienced over the past two years.

Although the list of the top 5 companies did not change (Apple, Samsung, Xiaomi, Huawei and Imagine Marketing), four of the top 5 experienced a decline compared to the previous year during the second quarter. Smaller brands continue to target lower price points, putting downward pressure on average selling prices (ASPs) for existing brands.

“It’s unfortunate that companies like Apple, Samsung and Google are launching more high-end smartwatches at a time when appetite for high-end products remains questionable,” said Jitesh Ubrani, head of research for IDC Mobility and Consumer Device Trackers.

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“And although the prices of some new products have remained the same as the previous generation, the strength of the US dollar makes it difficult to buy in local currencies around the world,” Ubrani claims.

Rising prices and demand for cooling have also reduced the overall outlook for wearables as IDC now forecasts full-year 2022 shipments to be flat at 535.5 million units. However, growth will return in 2023 as demand for watches and headphones is expected to return due to new buyers in emerging markets and replacements in mature markets.

“While the wearables market was down in the second quarter and is likely to remain flat this year, it certainly hasn’t panned out,” Ramon T. Llamas, research director for mobile and AR/VR at IDC.

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“As the wearables market takes slow steps toward maturity, it will eventually ebb and flow between the record volumes we saw during the pandemic and what we’re seeing today. But overall, the trend continues upward, just at a slower pace as consumers look for replacements and the number of new users starts to decrease”, concludes Llamas.



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