Apple Wearables Market Seeing Growth
Wearables are the Future of Tech
Love them or hate them, Apple is revolutionizing the tech industry. Recent reports are showing that the company is bringing in a lot of revenue from their wearable markets, and the rumors are pointing to creating new wearable technology that will likely take over those particular sectors as well.
What’s that look like? For the consumer it means more technology, better technology, and better products. For Apple it means they can focus on improvements.
Apple Wearables are Like a Fortune 300 Company
Fortune creates a list of the biggest companies in the world (based on revenue). So if a company is in the Fortune 1000, they’re in the top 1000 companies; if they’re in the Fortune 500, they’re in the top 500 companies; and so on, and so forth. Based on how much revenue the Apple wearables market is generating, they are like a Fortune 300 company.
Those revenues are led largely by the sales of Apple Watches (boosted by AirPods and Beats). The Apple Watch, which sold over 8 million units in the fourth quarter of 2017, has taken the lead on selling the most wearables in any given quarter. Fitbit had that record from back in 2015 when they did 6.1 million units.
Those 8 million units brought the total Apple Watch sales up to 18 million during 2017. That’s a 54% increase over 2016. But despite these numbers, they’re still barely in first place by number of units. Fitbit still captures 20% of the market; a Chinese company called Xiaomi produces an inexpensive watch capturing 21%; Apple Watch claims the lead with 23%.
The Future of Wearables
Apple will likely maintain their lead in the wearables market, especially if rumors of Apple Glasses are true. These glasses are supposed to hit the market in the year 2020. While excitement was building as rumors of Apple’s investment with EMagin abounded (EMagin makes AR displays), those have proven to be just rumors without any truth to them.
But that doesn’t mean Apple won’t be entering the glasses market soon. Tech companies are known for their extreme secrecy so nobody can “rip off” their ideas.
iDoctor Loves Technology
Think back to the progression of phones. Remember the clunky car phones? The big cell phones? The little phones, then flip phones, then smart phones? Tech changes rapidly, and we are quickly moving to wearable technology that will serve all of our functions without the need to even carry around a phone in your pocket. Soon we may be wearing Apple Glasses that can take pictures and automatically send them to our cloud, make phone calls, search for directions, and much more.
What wearable technology are you looking forward to? What do you have now? Hop on over to our Facebook page and let us know what parts of tech you love!