Annual Shipments of Wearables Fall for the First Time
During 2022, just 492 million units were sold, 7.7% less than between January and December 2021.
Annual shipments of wearable devices fell for the first time in 2022. Between January and December, 492.1 million units were shipped worldwide. This is 7.7% less than in 2021.
This is certified by the consulting firm IDC, which justifies this drop by “challenging macroeconomic conditions” and “difficult comparisons with the solid results of 2021”.
During the fourth quarter, for example, shipments contracted by 18.9% to 138.7 million wearables.
By device type, hearables, which bring to life the broadest category of such devices, fell nearly 10%.
Meanwhile, smartwatches managed to improve by 9.4 % to 148.6 million units with Apple, Huawei, Samsung, Nexxbase, and Fire-Boltt in the top five sellers. Watches are making it difficult for wristbands, the third largest category in terms of wearables, which like hearables reduced their presence during 2022.
Almost all regions except Asia-Pacific (excluding Japan and China) and the Middle East plus Africa completed a poor fiscal year.
“Given the difficult economic environment, it is understandable that consumer demand has slowed,” explains Jitesh Ubrani, research director at IDC.
“Having lower-cost options available in their portfolio is one-way vendors can help stimulate demand over the next few quarters,” Ubrani determines.
“Beyond that,” he says, “trade-in offerings, financing options, and subscription services will also play a key role in maintaining profitability while providing value to consumers.”