What you need to know
- Canalys reports an 18% drop in shipments in the wearable band market.
- Google moved up to second place in the fourth quarter with the launch of the Pixel Watch, which shipped 880,000 units in the final quarter.
- Samsung has had to deal with a massive 35% drop in wearable band shipments.
The latest shipments report sees Samsung gaining ground in its market rankings while Google sees an uptick in positioning.
Known for industry analysis, Canalys has released its latest forecast for the wearable band market and disappointing results for Q4 2022. Wearable band shipments fell 18% in the fourth quarter, according to research from Canalys. Smartwatches also posted his double-digit decline of about 17% in the same final quarter.
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In wearable bands, the launch of the Pixel Watch helped Google rise to second place (just behind Apple) thanks to a 16% market growth in Q4. But things got a lot worse for the company as Fitbit’s slowing shipments cut annual growth by 25%.
Google also shipped only 4 million units in Q4, as opposed to the same period in 2021, when it shipped 5.3 wearable band units. This has also resulted in a slight decrease in market share, which remains strong at 8%.
Canalys reports that Samsung also slipped to fifth place after shipments plummeted by 35% in the fourth quarter. Declining Wear OS transitions, along with “recurring updates” to the Galaxy Watch 5 series, are believed to have contributed to this decline for Korean OEMs.In the fourth quarter, Samsung shipped only 2.9 million units. It contributed 5.9% of the market share, compared to 4.5 million units shipped and a 7.4% market share in Q4 2021.
However, the analytics firm attributes the overall wearable band market’s bad luck to a “challenging macroeconomic environment” in Q4 2022, similar to its forecast for the smartphone market in Q4 2022.
Looking at overall wearable band shipments in 2022, Google is estimated to have shipped 880,000 Pixel Watches, which is still a dismal 22% drop from last year. Samsung may have grown smartwatch shipments throughout the year, but when it comes to wearable band shipments, he faces a 4% decline compared to 2021.
The wearable band market could shine in 2023, speculating Canalys analyst Cynthia Chen: It will grow, but growth will remain below 10% for him.Vendors remain vigilant and focus on quality over quantity given consumer spending has recovered somewhat. Let’s go.”
The Pixel Watch is one of the most beautiful smartwatches you can buy. Not only that, but thanks to Wear OS, you can access many Google apps directly from your wrist. Fitbit integration makes it perfect for fitness enthusiasts.
