Federica Laricchia
Research expert covering the global consumer technology industry
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The wearable industry has been growing at a fast pace in the last few years. Around 113 million wearables were shipped worldwide in first quarter of 2024 alone, representing an increase compared to the previous years. Around 492 million wearable units – smartwatches, fitness monitors, smart wearables, head-mounted displays and many other devices were sold in 2022 alone.
Fitbit was overtaken by Apple and Xiaomi in 2017 and was acquired by Google in 2021. Apple is currently the biggest wearable vendor, accounting for 29.7 percent of the market share in 2022. Thanks to the introduction of the Apple Watch to the consumer market in April 2015, the technology company quickly grew its market share in the smartwatch market, previously led by Samsung. Apple shipped about 146.3 million units in 2022.
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