Apple has reclaimed leadership of the wearable band market after the release of the Apple Watch Series 3, as revealed by the most recent industry figures from Canalys.
High demand for the LTE-enabled Apple Watch Series 3 has erased the service providers’ fears that the cellular smart watch may not gain widespread acceptance or popularity among customers, according to a statement issued by Jason Low, Canalys analyst. He also mentioned that in the third quarter of 2017, Apple sold eight hundred thousand cellular-enabled watch units.
That said, the launch of LTE-enabled Apple Watch Series 3 met some supply hitches, with the supply of the digital watch running out in some major markets. The demand for the watch significantly exceeded the supply in these markets, and the digital wristwatch could not meet its full potential in the third quarter.
Additionally, according to Low, customers with high expectations in China are unable to purchase the digital wristwatch given the service disruption in the country. Apart from boosting their stock, Apple is working hard to improve on the remote service feature to take care of the anticipated higher demand within this fourth quarter of 2017 and first quarter of 2018 and beyond.
While reviewing the market trends of the smart watch, Mo Jia, Canalys Research Analyst, mentioned that although health features of the wrist watch is the major driving force behind the massive demand, sellers are making efforts to boost the worth of smart watches by boosting the design and placing emphasis on major features.
Apple and Samsung are making effort to boost customer retention and brand loyalty by taking on an ecosystem strategy, which incorporates wearables and audio accessories. Smart watch sellers must re-estimate their relevant smart watch policies to offer users additional value apart from just seeking for the development of smart watch.
With innovative smart watches that feature improved health-tracking technology, longer battery life, improved and trimmer designs, sellers are looking towards a better performance within this last quarter of 2017 and the first quarter of 2018.
A Tractica report on Wearable Device Market Forecasts projected that the yearly wearable device deliveries will rise from 118 million units in 2016 to 430 million units in 2022 which would amount to a CAGR of 24.1 percent. According to the report, before the end of 2022, smart watches will be the broadest wearable device market, the next wearable technology after that would be fitness trackers and body sensors.